Lundi 9 Mai Fintech is a disrupting force and a decentralising movement in the financial services sector. Digital ecosystems are fundamental to the success of both Fintech and traditional banks. Each segment relies on its own set of digital technologies. Digital Payments Digital Payments are services offered through a smartphone, POS device, or web-based tool allowing consumers to make payments online or mobile point-of-sale , exchange currencies and trade funds foreign exchange, international funds transfer and cryptocurrency trading and payment in a purely digital platform.
Digital payment methods are low cost, instant, and global. New EFTPOS and online charging solutions will permit more credit card payments to merchants at a reduced cost of receiving payments. From , digital payments will have steady revenue growth with the segment forecasted to be worth AUD1.
Apple Pay and Google Pay will evolutionise this market. Smartphone prevalence facilitates a high adoption rate for a more convenient and secure form of paying compared to physical cards or cash," added Saranga.
Near Field Communication NFC enables consumers to pay with their mobile phones instantly, with any payment company, for any purpose. NFC payments integration into Apple Pay and Google Pay will challenge established and existing payments players in the digital payments segment, who will ultimately have to pay a fee to have their credit and charge cards carried on these platforms.
Smartphones allow the possibility of completely digital banks to operate internationally without any physical branches. Mobile applications are developed to be the sole platform for mobile banking and investment tools. The value of one Bitcoin grew Whilst opportunities will present for security and hardware services for companies involving merchant payments, it is anticipated that business acquisition opportunities will exist largely in companies offering bitcoin payments.
