Digital Payments and Fintech

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Digital Payments and Fintech

Digital payment is a transaction that takes place via digital or online modes, with no physical exchange of money involved. This means that both parties, the payer and the payee, use electronic mediums to exchange money. Please note that digital payments can take place on the internet as well as on physical premises.

A digital payment, sometimes called an electronic payment, is the transfer of value from one payment account to another using a digital device such as a mobile phone, POS (Point of Sales) or computer, a digital channel communications such as mobile wireless data or SWIFT.

Examples of FinTech

  • Digital Lending and Credit. FinTech giant Kabbage directly funds small business loans and is powered by transactional data to help make incredibly quick lending decisions.
  • Mobile Banking. 
  • Mobile Payments. 
  • Cryptocurrency & Blockchain. 
  • Insurance. 
  • Trading. 
  • Global FinTech Solutions. 
  • Envestnet | Yodlee & FinTech.

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