Even in a global tech wave, payment fintechs should think local

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There is no doubt the payments industry is evolving at a very fast pace, and giants are beginning to appear from every corner of the world.

However, varying speeds of adoption of digital and the resistance of local payment methods show that global giants still need to contend with local preferences and strive to understand local markets and newer technologies.

The payment landscape is still very fragmented with local solutions holding their own against global giants and new technologies such as AI and blockchain keeping the payments market very enterprising.

Mobile payment methods are set to revolutionize the landscape even further. With mobile banking set to replace online banking by 2023, paying with a smartphone will become common practice.

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