Original Content- Business Upside
Market capitalization recently has been following much smaller fintech companies in terms of how financial transactions are being carried out at present. Two companies, in particular, stand out in this aspect. One of them started as a spin-off of eBay, and their basic claim to fame was that they were the primary payment providers for eBay. This company was called PayPal. The other just started as a company that provided very small businesses, mom-and-pop operations, small retailers, and the kind with a platform where they could accept credit card payments for goods and services without incurring massive fees to install card readers other devices. This company was called Square. Both of the companies served different purposes, but both of them have converged into being much more than what their core started to be. A detailed comparison of both these fintech companies would help make the viewpoint more lucid.
Every ten to twenty years, there is a banking crisis because of the fractional reserve system, which is messy in all reality. There are a lot of flaws with the traditional banking system-its expensive, risky, and involves a ton of regulation to make sure that it does not fall apart. Fintech gives consumers a way to rethink the entire banking system.
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