infrastructure of the payment solution without having to worry about the currency or country I am in, the amount in my payment instrument, the service provider, the recipient, the time zone, the language, the nature of the transaction, or the payment amount. The consensus among experts is that this factor plays a significant role in the market’s growth over both the short and long term. Incorporating the category of payments made through mobile devices.
Abstract – A few years back, I had a fascinating discussion about Fintech. Today every 3rd if not 4th profile on LinkedIn is about FinTech Expert. Few days ago someone asked me a million dollar question “What is FinTech?” I was intrigued with such a small, simple question but found it difficult to answer this to a person who is not from those 4 people from linkedin. My simple briefing note to answer this question was, “Fintech is a technical tool to support financial services”, making it simple for everyone on this planet earth along with promoting idea of “Financial Services as a basic right for every human being”. Financial technology, also known as fintech, is an economic industry composed of companies that use technology to make financial services more efficient. Why it is so inherently difficult to define the concept of Fintech, is because definitions change over time. Alternatively, traditional banking organizations are hindered by legacy operating systems, capacity to innovate, agility and technology expertise.
What are the implications of NFC based Mobile Payments solution? Is it going to change the world, be a significant “win”, be a nice hack. NFC based mobile payments can support globally and will give financial institutions and partners greater choice in offering consumers secure ways to pay with smartphones.
In 2011, remarkable advancements were achieved in the development of high-intelligence computers. The objective of discovering the Higgs boson was facilitated by the processing of a substantial volume of data, surpassing the 10-petaflop threshold. IBM Watson triumphed over human competitors in the competitive game of Jeopardy. On the whole, the present year has evinced great significance in terms of advancements made in the aforementioned fields.