From the course: Introduction to Fintech

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Online payments and digital wallets

Online payments and digital wallets

From the course: Introduction to Fintech

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Online payments and digital wallets

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- [Instructor] Next, let's look at a more comprehensive view of the current FinTech landscape by breaking it down into different categories. First, let's focus on online payments and digital wallets. The use of mobile devices and digital wallets for making payments, transferring money, and managing finances. Now, payment processing and money transfers in FinTech are technologies and services that allow for electronic transactions and the transfer of funds. Payment processing involves accepting, verifying, and authorizing electronic payment made through methods such as credit cards, digital wallets, and mobile payments. Money transfers involve moving funds from one individual or entity to another, either domestically or internationally through digital platforms such as mobile apps, online portals, and ATMs, and FinTech companies such as PayPal, Stripe, and Square are looking to disrupt the traditional banking industry by offering faster, more secure and convenient ways of payment…

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