The rapid rise of FinTech has altered traditional payment methods, moving financial transactions toward decentralized platforms. To understand how fintech-driven changes transform traditional payment systems, this study reviews the current literature to provide a comprehensive overview. It is noted that the available studies are fragmented across many areas, including technology, behavior, regulation, and regional domains. Around 1384 studies were reviewed, and after systematic selection, 72 peer-reviewed articles were analyzed using SLR methodology. Technological innovations in Fintech payments, behavioral factors and technology adoption, regulatory and institutional dimensions, financial inclusion, and socioeconomic impact were the themes that stood out prominently in the SLR. The study is very relevant in current times, as it helps one understand the evolving landscape of Fintech and the issues faced by different stakeholders. This study also lays the groundwork for future research on how Fintech changes payment systems.