People had high expectations that the economy would rebound in the year 2020 but with COVID-19, it has become a year that will be dreaded by generations to come. The pandemic was declared in March 2020 and began hitting economies and businesses worldwide. COVID-19 has had a massive impact on FinTech Startups and companies and affected the Digital Payments space. Here is a roundup of shortand long-term impacts.
Like every other industry sector, the financial landscape is changing remarkably. With constantly evolving technologies, new global regulations, and increased investment, the industry is growing faster than ever. Of all the trends, the introduction of FinTech remains the most prominent, redefining and disrupting financial services and products in the last decade. However, since it is new, there are bound to be little or no understanding of how actually FinTech works and serves the changing market needs.