FINTECH SERVICE BUSINESS IN INDIA TREND AND PRACTICE -A THEORETICAL OUTLOOK

EPRA International Journal of Multidisciplinary Research (IJMR) Pub Date : 2024-05-14 DOI:10.36713/epra16797

Dr. P. Rekha, Mr. Anish K. S

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Abstract

Fintech (Financial Technology) an advance payment-based technology is a growing service in India. With the introduction of number of innovative payment platforms that are alternative to cash transactions, people are motivated to choose best of best payment options. Fintech technology adoption rate in India is noticed as 87 per cent compared to 64 per cent of the world average. Growth of fintech services is influenced by number of factors like: nation having huge underserved financially excluded population, rising youth population, educated and rapid urbanisation, easily available of workforce, supportive Government policies and scope for raising capital for investments. Digital payments and fintech service market is expected to grow multi-fold in the near future, with active support from the user, Government and financial institution. The financial market is found be less matured and large number of people are still uncovered by various financial service, through enhancing their knowledge on easy and safe mode of payment either for physical or online shopping or for money transfer with support the fintech services to growth in India. KEY WORDS: Fintech Services, Digital Payment, Financial Literacy of Fintech Service

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印度金融科技服务业的趋势与实践--理论展望

金融科技（Fintech）是一种基于支付的先进技术，在印度是一项不断发展的服务。随着一些可替代现金交易的创新支付平台的推出，人们开始选择最好的支付方式。印度的金融技术采用率高达 87%，而世界平均采用率为 64%。金融科技服务的增长受到多种因素的影响，例如：印度拥有大量未得到充分服务的被金融排斥的人口、不断增长的青年人口、受教育程度高且快速的城市化进程、易于获得的劳动力、支持性的政府政策以及为投资筹集资金的空间。在用户、政府和金融机构的积极支持下，数字支付和金融科技服务市场有望在不久的将来成倍增长。印度的金融市场还不够成熟，许多人还没有接触过各种金融服务，通过提高他们对便捷安全的支付方式的认识，无论是实体支付还是网上购物或转账，都能支持金融科技服务在印度的发展。关键词：金融科技服务、数字支付、金融科技服务的金融扫盲

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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EPRA International Journal of Multidisciplinary Research (IJMR)

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