The number of fintech companies is growing rapidly from year to year. According to experts, this sector has a huge potential, and by 2030, its share in the global market will increase 6 times to 1.5 trillion USD. Fintech companies are displacing traditional banks as they provide more flexible and interesting products for customers. Still, not all use innovative Payment Card Solutions and provide users with payment cards issued using outdated technology. It indicates that fintech is still at the stage of development. Let us list the areas where fintech companies should improve the quality of service and start developing rapidly.
Key Fintech Trends
The world is experiencing a global macroeconomic crisis, high inflation and general uncertainty. Against such a complex economic picture, only strong players, ready for rapid change and innovation, can resist and strengthen their positions. To take a leading position in the fintech sector, it is necessary to follow the following trends:
- Organizing cross-border payments. International payments have become commonplace for many customers. However, most banking institutions conduct them for a long time and with high costs. Modern fintech should make international payments less expensive and more efficient.
- Using innovative payment systems. It has become fashionable to use not the usual plastic but mobile payment systems. It is safer and very convenient. Many fintech companies need help to tokenize their payment cards, and they lose a large share of trend-conscious customers.
- Increasing consumer and payment security. Payments should be protected as much as possible from online fraud. Experts estimate that in 2022 alone, cybercriminals embezzled about 41 billion USD from the e-commerce market. Fintech companies should utilize fraud protection solutions compliant with legislation and utilize leading security protocols.
- Ensuring payment transparency. By providing credit limits, fintech companies must ensure that these products and services are transparent so that customers do not fall into debt but pay it off and take advantage of the opportunity again.
Co-brand Solution for fintech companies fits all these trends.
What choose for Financial Grow?
The best offer for fintech companies to stop using outdated and unreliable payment instruments and launch Card Issuing independently. A personal card program will allow the company to reach a new level. It is possible thanks to the following features of the Wallester platform:
- Visa card issuing for any purpose. These can be virtual and physical cards, single-use and multi-use, debit and credit cards;
- Card management. You can independently set limits, control expenses, block/unblock cards, reissue and set expiration dates;
- Tokenization. Any cards can be tokenized and connected to the most popular mobile payment systems;
- High level of protection. The 3D Secure protocol requests additional verification during the transaction, making e-commerce more secure.
White-Label Card Issuing will allow you to stand out from other fintech developers who still provide customers with payment cards with a standard design. Wallester’s solution will make your brand more recognizable and will have an overall positive impact on business success and revenue. For more information visit Wallester official webpage