Fintech Landscape

The term fintech is derived from combination of two terms, i.e. financial and technology. Seeing is believing has been a proverbial phrase for ages, and today as India leads the world in the Unified Payments Interface (UPI), the so-called Jan Dhan-Aadhaar-Mobile (JAM) integration gave rise to a different world where exchange of money from a fiat currency to a digital currency through bank accounts has made transfer of funds more stress-free and less usage of paper. India spearheads the payment revolution with its integration of bank accounts, Aadhaar and Mobile smartphone. The word payments means different to different people as per their convenience an organisation will use the same to its benefit a central bank is the core to its transfer and a watchdog for its smooth and without any hindrances caused to anyone. The study covers the wearables market and the IOT-based devices which take fintech to a next level whether it is payment for utility bills or buying your stocks and securities. The governor of RBI Shaktikanta Das expressed a dream of having an approach of buying a financial instrument in same manner as consumer buying products on marketplace like Amazon or Flipkart.