The innovation in the fintech industry has taken the world by a gust, becoming a universal phenomenon, as not confined by any region alone. The financial foundations are undergoing an intense transformation in the digital age - from their roles and responsibilities, service offerings, products to the distribution channels.
The global fintech sector has witnessed H1 2018 investments surpassing 2017 total to reach USD57.9 billion. Over the last two decades, the use of technology has helped consumers and conglomerates and their businesses to become a major part of digital India. The government initiatives and regulators for digital India, aided by the growing internet and smart-phone penetration, has led to the adoption of digital technologies.
The Digital India campaign launched by the government has been a key asset in empowering the country on the digital front. The empowerment on the digital front has widened the range for fintech companies to reach to a larger audience. Payworld is continuously working with the new technologies to make the services simplified for the rural and semi-urban population.