Impact of Covid-19 on Fintech

The Fin-tech sector would experience a dual impact on the ongoing spread of COVID-19. The economic slowdown in the countries, difficulty to access external funding for the early-stage ventures and new Fintech firm, dwindled digital payment volume in the allied industries such as airline, tourism, etc. and short-term plummet in the businesses activity and reduced revenue for both large and small companies, etc., are some of the factor restraining the Fintech sector. On the other side, the crisis also benefited the industry by stimulating the rush to digitization due to surge in remote work and social distancing. Via this, the businesses would switch to more towards digital solutions hence, the fin-tech companies would witness more demand for digital payment in the near future. To know more precise impact on the industry, please fill the required information and we would be happy to assist you.