The Booming Fintech Industry
The Rise of the Fintech Industry: A Revolution in the Making Have you noticed the explosive growth of the global fintech industry? Revenue has skyrocketed from $10 billion in 2020 to $79.38 billion in 2023, with projections of reaching to $141.18 billion by 2028. What’s driving this surge? Is it the surge in digital payments, the rise of cryptocurrencies, or the innovative banking solutions that are reshaping our financial landscape? I was reading a newspaper article last week saying that more than 45% of real time global transactions are done in India that caught my attention. I asked Google Gemini that also confirmed this fact. In 2023 , there were 266 billion real-time payment transactions globally—a staggering 42% increase from the previous year. Did you know that India accounts for almost half of these transactions, with its Unified Payments Interface (UPI) processing over 117 billion transactions —t...