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Month: February 2021

Financial Inclusion through Fintech

Financial Inclusion through Fintech

Fintech companies are uniquely qualified to drive financial inclusion through payments, which act as a gateway to various services such as savings, credit, and insurance. Payments services can be called transaction accounts which are operated by regulators. This can be used by regulators to enable users to meets financial obligations through payments and store the rest. Fintech can improve the design of payments and accounts by making them accessible, enhance the user experience, and provide assistance. As Fintech companies move…

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Influence of Fintech startups on Payments industry

Influence of Fintech startups on Payments industry

In the past, transactions between merchants and customers used to take place in the form of gold, silver, cattle, and other physical commodities. Post-1971, the traditional transactions ended when the US and other world fiat systems detached from the gold standard and embraced the floating exchange rates. However, over the past 50 years, financial systems realized the payment systems built are obsolete with the entities embracing fintech disruptions like virtual currencies, distributed ledgers, and decentralized protocols. Fintech startups are led…

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Credit Line

Credit Line

The credit line, also known as the┬áLine of Credit (LOC) is a type of standing loan, which entitles an individual entity, organization, or business to borrow money and thereafter repay it. Once the borrower repays the outstanding amount, they can continue borrowing money without applying for a new loan whatsoever. Credit line does a huge favor to those experiencing monetary deficit and makes it possible for them to continue their business, or complete a project, or fulfill their personal needs….

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