FinTech in India: Potential and Issues

FinTech, or financial technology, is the term used to describe any technology that delivers financial services through software, such as online banking, mobile payment apps or even crypto currency.

FinTech is a broad category that encompasses many different technologies, but the primary objectives are to change the way consumers and businesses access their finances and compete with traditional financial services.

Issues with FinTech in India

Payment

  • Largely Bank-Centric: The payment ecosystem in India is largely bank-centric. Only bank-led Payment Service Providers (PSPs) have direct access to payment systems, while non-bank PSPs have to depend on member banks. The Real Time ....
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