Tag: banking

Payment systems are being impacted by the technology transformation now taking place in the modern world. FinTech, short for "financial technology," is a term that refers to the ways in which new developments in this field are modernising outdated methods. The demands for digital banking, financial, and payment services have been pushed by the COVID-19 epidemic, just as digital technology has been and will continue to reshape payments, lending, insurance, banking, and more. The transition from brick-and-mortar banks to internet banking has had far-reaching effects on the ways in which consumers make purchases. This shift is being fueled by reasons including cheaper transaction processing, better security, and easier access to information via online banking and mobile apps. Payment alt...