Out of 249 digital banks who are apparently stealing millions of customers from traditional banks,

Only 13 have been profitable (10 in Asia-Pacific, 2 in the UK, and 1 in Russia). That’s only 5.22%.

But a distinctive thing to call out is that the eastern digital banks are years ahead of western ones in terms of profitability.

Can I pay by UPI without a smartphone or Internet?

I often don’t carry my wallet and my phone is enough to help me transfer money via UPI.

The common assumption is that a stable internet connection helps me make these digital transactions. But what if – I am in a place with #no #internet connectivity?

The answer is yes..

WAIT…. can I pay for products and services using UPI outside India ? and While living outside India, can I send money back to India, using UPI?

Very soon, the same payments and transactions in foreign locations will be done via UPI 🙂

Who is making this happen?

While roaming my country India, what I have been observing is that #UPI transactions are already the predominant mode of electronic
#payments in country and now outdoing the number of #card transactions by nearly 8times.

Because – the fintech companies have raised more from venture capital investors in the first six months of 2021 than in any other year. In H1 2021, it outstripped the total investment secured in 2020 by 34% and breaking the record year set in 2019 by 26%. (reports Innovate Finance)

According to the Swiss Re Institute, from 2000 to 2020 the #protectiongap doubled, and not to forget the #covid crisis exposed and exacerbated this situation.

Because – the fintech companies have raised more from venture capital investors in the first six months of 2021 than in any other year. In H1 2021, it outstripped the total investment secured in 2020 by 34% and breaking the record year set in 2019 by 26%. (reports Innovate Finance)

According to the Swiss Re Institute, from 2000 to 2020 the #protectiongap doubled, and not to forget the #covid crisis exposed and exacerbated this situation.