Seizing this opportunity, digital fintech platforms have leveraged their delivery mechanisms to meet consumer needs during this challenging time
The covid-19 crisis has transformed the fintech sector in the last three months and proved to be a silver lining, according to financial payments companies at the virtual Global Fintech Fest 2020.
“…Adoption of digital technologies accelerated in smaller cities with a surge in online payments and consumers opting for contactless payments. Small and medium businesses also focused on online tools and increasing their presence digitally and this gave opportunities to fintech and lending companies,” said Anish Achuthan, co-founder & CEO, Open Financial Technologies, in a panel discussion moderated by K.T. Prasad, managing director and RVP, India and Saarc, Zendesk.
Seizing this opportunity, digital fintech platforms have leveraged their delivery mechanisms to meet consumer needs during this challenging time. For instance, as demand for groceries and essential items has increased, companies like PhonePe have enabled virtual stores on their mobile app to enable local businesses to sell products online.
Source: livemint
