Payments Infrastructure | Digital Wallets | Fintech Strategy
Revolut has now surpassed 30 million retail customers worldwide and now makes more than 400 million domestic and international transactions combined every month. While seemingly large this number is, the global neobanking market is expected to grow at a compound annual growth rate (CAGR) of 54.8% from 2025 to 2030. It proves that the neobanking market is far from being saturated, while more and …
With a high penetration rate of 49% and bringing more than half of the total value of online payments worldwide, digital wallets are becoming a dominant method of payment. Basically, it means that not having a digital wallet may lead to losing about half of potential payments or having customer experience worsened for approximately the same percentage of customers.
In this post, you’ll discover …
The global foreign exchange market handles more than $7.5 trillion in daily trading volume, establishing itself as the largest and most liquid financial market globally. With the expansion of global trade, remittances, and digital payments, there is an increasing need for dependable and secure currency exchange services.
Launching a successful currency exchange business demands a comprehensive …
Remittance payments are an overlooked method of international money transfer for both individuals and businesses. Payments that fall within the concept of remittance transaction typically benefit from lower fees, which amount to 6.2% on average. $857 billion was the amount of remittance flow in 2023, and with this volume increased by 4.6% to $905 billion in 2024, the demand for such services is …
Account holders of the top 4 white-label banks WeBank, Rakuten, Nubank, and Revolut, amount to as many as 710 million account holders. That fact fully supports other statistics, indicating that the global digital banking market is projected to grow at a CAGR of 54.8% up to 2030.
It doesn’t come as a surprise that businesses increasingly start looking to adopt white label banking services and …
In the modern world of digital technologies, web stores, and online payments, the role of payment processing vendors is significant. Such service providers handle various forms of electronic payments, including credit and debit card transactions, offering secure and efficient processing services.
The transaction value in the digital processing market is projected to reach $11.55 trillion in 2025, …
The payments industry has become highly automated, and 75% of all payments worldwide are made digitally, with banking cards dominating. With that in mind, businesses strive to leverage the advantages of card issuance in order to facilitate payments processing.
In this post, you’ll read about what card issuing is, what businesses issue credit card programs, how the process of card issuance works, …
The true cost of a mobile app downtime can amount to $9,000 per minute for large organizations. Stakeholders, business owners, and managers, utilize multiple metrics to evaluate the performance of an application, especially with high downtime costs in mind. Two such are high availability and fault tolerance.
In this post, you’ll explore the concepts of high availability and fault tolerance in …
Going global is a chance, but if your cross-border payments aren’t done correctly, they can steal your earnings. You can’t grow your business if there are high fees, slow payments, or rules that get in the way.
Online payment market will be worth $290 trillion by 2030, up from $190 trillion in 2023. In that regard, businesses start putting more effort into making payments more …
Open banking is driving a new era of financial connectivity, empowering businesses with real-time data access, seamless transactions, and innovative payment solutions. With a projected 27.4% annual growth rate through 2030, API-powered financial services are becoming a competitive necessity. For C-level executives, adopting the right open banking provider means unlocking new revenue opportunities, …
Fintech is a complex and profitable industry that demands quick decisions and modern technology. Often, many features utilized by finance startups require data analysis and pronounced data-driven workflow. Therefore, Python for finance, a programming language with a simple code structure and great data processing capabilities, becomes one of the most prominent choices here.
Over the years, the …
Cameras in fintech applications can become a window to new financial freedom. The video identification process can enhance the know-your-customer (KYC) process, allowing it to use algorithms that recognize and verify users a lot faster.
Many business owners have the same view on video identification. This drives the market segment to a quick expansion with a CAGR of 15.29 during the years …
In 2025, businesses will adopt transaction processing systems (TPS) for online transactions, expanding the field. Digital payments are on the rise.
This year, the total transaction value for digital payments is projected to reach USD 20.37 trillion, with a CAGR of 15.90% between 2025 and 2029. This astounding total transaction value signifies a great adoption rate. The transaction process system …
Digital wallets are on the rise, being adored by over 3.4 million users worldwide. Over 2838 billion transactions are forecasted to be made with digital wallets in 2028. The demand for fast, secure, and easy-to-use solutions is growing at an exponential speed, promising higher ROI for those joining the wave. So, with the demand and usage growing, there stands a question; how does one develop a …
Since 2020, super apps have been gaining an advantage over traditional apps and increasing in popularity. The super app market shows an annual growth rate (CAGR) of 27.8%, and a considerable adoption rate, with 1 in 3 people being users of super apps, and about 74% of consumers expressing interest in super apps in general. So, what should businesses know about super app development in 2025 and …
As a fintech leader, you know the stakes: every failed payment, every delayed transaction, and every missed integration with a bank or card network translates to lost revenue and frustrated customers. The solution? Implementing ISO 8583—the standard that powers global card payment systems.
ISO represents an opportunity to create payment systems that operate seamlessly across borders, scale with …
In a way, open banking becomes an entry point for businesses seeking to integrate with technologies such as real-time payments. By opening companies to more innovative services, open banking quickly gains popularity on the market with a CAGR of over 24.2% during the 2023-2031 period.
In this article, I will build a preface for all other open banking articles in our blog, so you will find a general …
Imagine approving a loan in seconds or offering personalized financial advice based on real-time behavior—all while staying ahead of fraud threats. Real time processing is reshaping fintech app development, enabling faster decisions and exceptional customer experiences. This groundbreaking technology allows companies to analyze data as it’s generated, ensuring smarter operations and unmatched …
YouTube was once aimed at creating entertaining content, but now it has become rather educational. If one knows where and what to search, it’s quite easy to utilize YouTube as a resource to learn new skills and hone existing ones. Hence, finance education became a prominent niche on YouTube.
YouTube finance channels have an opportunity to spread news and trends from the fintech world, help …
Fintech software quickly became an integral part of everyday life for many consumers worldwide due to its convenience and accessibility. More startups are hitting the market each year, with several becoming world-famous Unicorns, making the niche attractive for business owners.
By the end of 2024, around 30,000 fintech businesses had been registered in APAC, EMEA, and the Americas. This number is …
Open banking is easily one of the most impactful technology trends in the fintech domain. Its rapid expansion across regions and evolution into concrete functionalities and products made open banking nearly a must-have for market players. But how is open banking already manifested in actual software products, and what are the development steps for such a solution?
In this post, you’ll explore the …
Smooth and secure payments are essential for any business to succeed. With the boom in online shopping and digital wallets, competition in payments has grown faster than ever. To keep things organized, the European Commission created rules to regulate Electronic Money Institutions (EMIs) and Payment Institutions (PIs)—two key players in modern payments.
In this article, we’ll cover:
Studies highlight the significance of mobile devices in everyday use since over 17.72 billion such units are distributed worldwide. Today, mobile devices are accountable for nearly 60% of all global internet traffic on average and can reach up to 80% in KSA and other developed regions. These facts alone make mobile-friendly design crucial for user experience on websites. That’s why it’s absolutely …
The Kingdom of Saudi Arabia (KSA) is witnessing an unprecedented tech boom with its Vision 2030 initiative. Last year, Saudi Arabia gained more than half of startup investments in the MENA region, attracting $2.3 billion in funding across 145 deals. That’s more than half the region’s $4 billion startup investment total and represents a staggering 160% year-on-year increase, according to research …
The value of distributing goods and services digitally, with an opportunity to receive payments online, is immense. For instance, retail e-commerce revenue globally alone has exceeded $4.1 trillion as of 2024. And there are still other industries where businesses widely utilize websites that can accept online payments.
In this post, you’ll discover what a website payment system actually is, what …
AI gradually shifts from an innovation to something most users are accustomed to in their everyday lives. However, some aspects and examples of AI customer service solutions can still help your business become a pioneer.
According to a HubSpot report, in 2024, over 84% of CRM leaders see AI as an instrumental tool for interacting with clients. The same report mentions that over 71% of respondents …
Mobile app development is a vivid example of a promising but demanding market. Stats reveal that the number of mobile app downloads has reached 257 billion and is increasing, while annual mobile app spending also shows a positive trend.
However, do you pay attention to how many users abandon mobile apps by deleting them? Such statistics are no less impressive. At the end of 2023, the Android app …
KYC solutions market has a big pool of providers that offer options capable of helping your business enhance the security and improve customer expereince. Currently, the market size is projected to reach USD 15.81 billion by 2030, and is rapidly expanding at a CAGR of 20.8% from 2022 to 2030.
However, it’s easy to get lost in this multitude of choices, and many of my customers, partners, …
Back in 2022, SWIFT, a write transfer network, reported processing 42 million financial transactions daily. At the same time, over the year 2022, the ACH network processed more than 30 billion transactions.
As you can observe, both payment methods are popular. However, which one should you adopt as a business that sends or receives payments or, as an alternative, provides such an opportunity to …
Over the past years, the healthcare industry has notably digitalized. With about 2 billion users in the global digital health market health and medtech apps and platforms have a huge potential to distribute services. That’s where fintech, as a banking and payment-focused niches, comes into light, revolutionizing the existing approaches to providing healthcare services online.
In this post, you’ll …
Artificial intelligence (AI) has changed the financial services industry, with applications in investment banking, insurance, wealth management, and more. One of the most promising AI tools for investment banking is ChatGPT, which already has more than 180 million monthly users.
This generative pre-trained transformer language model can be used to provide virtual assistants for customer service …
How do payments work in your business? Your customers find what they prefer among your products and services. However, will they find a preferred payment method among your company’s supported methods?
Studies show that businesses that offer multiple payment options increase revenue by nearly 30 percent. In turn, companies that accept four or more payment options increase their revenues …
The digital payment boom has changed how people buy and pay for things. For example, modern businesses are use electronic methods to make their operations more efficient, and it helps them achieve competitive leverage. The online payments imply the presence of a merchant service provider.
Statista research predicts the overall transaction value increase by 11.79% annually from 2023 to 2027, …
Biometric authentication is on the rise in 2024, with many digital finance companies and service providers claiming it for their business. For example, according to The Coolest Gadgets, worldwide revenue from the sales of biometric authentication systems reached roughly $15.1 billion in 2023.
In this article, I seek to explore what biometric authentication means for fintech businesses in the …
Crafting a clear plan for entering the market is easily one of the most impactful things a startup can execute to get closer to success.
Report by Gather evidence that 83% of companies have a dedicated team or a role responsible for creating startup company marketing strategy. Besides, 85% of the organizations report that their go-to-market strategy was very or somewhat effective at driving …
What lacks the majority of software product providers is speed. Fintech companies can’t afford to have compromised operational scalability and consumer reach. That’s why it’s possible to observe the growing demand for wealth management platforms used to automate fintech tasks and help handle finances.
In 2023, the worldwide market for wealth management software was worth about $4.59 …
The market for financial technology is expanding at a fast pace, and so is the number of companies operating in this field. It is estimated that by 2024, the fintech market will exceed $340 billion, and by 2030, it will reach $1,152 billion. There are currently approximately 30,000 fintech companies around the world, and this number is constantly increasing.
Ongoing development of technology gives …
E-commerce businesses are always looking for opportunities to improve customer service through technology and innovation. Headless commerce provides them with such an opportunity by introducing a flexible architecture that can be adapted to different business needs.
According to Statista, 63% of retail businesses plan to implement headless e-commerce architecture in the coming years, and 22% are …
Modern banks handle a variety of financial transactions. They deal with a huge number of money flows and enormous money volumes. It is no surprise that banks have become prime targets of fraudulent activities. Impressive $10bn loss was reported because of fraud in 2023 with nearly 1 in 5 people affected by the imposter scam.
A serious problem for banks is that modern criminals are highly …
In 2024, one-fifth of all retail purchases will be made online, and a third of shoppers will make online purchases on a daily basis.
It’s obvious that online shopping has turned from luxury into a necessity for modern consumers.
If you own a retail business but still don’t sell online, now it’s time to jump into an e-commerce train.
With an online presence, you will be able to …
Blockchain is regarded as a promising technology with plenty of potential uses across most industries, far beyond simply trading cryptocurrencies or securely exchanging digital assets.
Deloitte’s research evidence that 80% of businesses from across various industries expect blockchain to bring new revenue streams in the near future. And that most likely will be the case.
In this post, you’ll …
Are you constantly on the lookout for new tools to improve business operations? Robotic Process Automation (RPA) could be the technology you’ve been missing out on.
A study shows that 98% of IT leaders believe automating business processes is necessary for getting industry advantages. And this is true because RPA for finance can reduce labor-intensive tasks by up to 80%.
Finance RPA includes …
Whether you’re a fintech or a non-fintech business owner, you cannot overlook the rapid integration of banking services into platforms, services, and products from other industries. It’s commonly known as embedded finance.
The size of the embedded finance market in 2023 is estimated at 66.3 billion U.S. dollars and was forecast to grow at a CAGR of 16.5% over the next decade. It can be stated …
According to recent data from Global Market Estimates, the global green fintech market is expected to increase by 22.4% annually from 2024 to 2029. A mix of technology and finance, which is called green fintech, helps the planet and promotes sustainability.
Before we explore this topic, let me introduce myself. I’m a software engineer with six years of experience. I lead the Node.js …
Payment processing is integral to the entire business operation. Over the last few years, businesses worldwide have lost over $33.4 billion due to financial fraud. With the increase in the number of fraud methods and cases, it’s becoming more and more important to secure funds and sensitive billing details from being stolen.
In this post, you’ll discover fundamental aspects of tokenization, learn …
Fintech is one of the most promising and ambitious branches nowadays, so it shifts from being a short-term trend to a prominent market segment. Back in 2022, the number of active fintech unicorns reached 312, showing a dramatic increase. At the same time, as of May 2023, there were 11,651 fintech startups in the US only.
The global IT services outsourcing market was estimated at about $525 …
Innovative AI and ML technologies disrupt conventional fintech and raise additional challenges and opportunities for businesses in this niche. Business owners are now naturally curious about how they utilize machine learning in finance to their company’s benefit, and whether ML can offer a good return on every dollar invested in it.
McKinsey’s report shows that about 55% of businesses …
Customers used to have to physically visit a bank during business hours to perform even the most basic banking tasks. Now, they can benefit from convenient mobile banking apps. The decision will naturally be based on how well the mobile app meets their needs.
More than 69% of banked households use mobile banking services as their primary method to access bank accounts. This means that mobile …
In the modern day, financial fraud is incredibly widespread. While customers are at risk of being scammed, businesses that fail to establish fraud detection and prevention systems risk their reputation and can be subject to penalties, and in some cases, C-level of companies can be criminally liable.
Statistics reveal that business losses because of online payment fraud were estimated at $48 …
More than 5 billion people engage with mobile apps daily. Thus, if your fintech app isn’t generating revenue now, it might be time to reassess your strategy and explore ways to enhance its performance to monetize app.
Financial apps are consistently in demand. They provide essential services for tasks like money transfers, expense tracking, and online loan applications, all from the comfort …
Nowadays, it’s nearly impossible to imagine life without finance, apps, and software.The software development market is projected to achieve a value of $1039 million by the year 2027, demonstrating a Compound Annual Growth Rate (CAGR) of $22.54% from 2020 to 2027.
What’s even more intriguing is McKinsey’s research indicating that the fintech industry is anticipated to grow …
Despite tons of innovative security measures, fintech companies always face different types of fraud. From April to June in 2023, investment fraud emerged as the most financially impactful compared to other cyber crimes, resulting in losses of £135.2 million.
Can you imagine your business losing tons of money just in one wrong click? Unfortunately, it happens every day. On average, fintech …
Events are the best way to build a strong network for your business and yourself as a business individual. 79% of people agree that networking plays a vital role in career and customer attraction, as about 40% of people are inclined to become customers of a particular company after meeting a business owner.
But networking also has to be mindful. Good networking events always come with a great …
Bitcoin, the world’s leading cryptocurrency, has captured the hearts of millions, with its user base growing extremely fast during the last decade. As of the latest statistics, over 400 million people actively engage with Bitcoin worldwide as of 2023, showcasing the rising influence of decentralized digital currencies.
On the other side of the spectrum stands Revolut, a trailblazer in …
Product discovery is an initial phase that precedes the project’s development stage. During product discovery, the product team delves into the market, identifies potential problems, and explores their solutions. Failing to undertake thorough discovery puts the team at risk of creating a product that can’t function properly, disappointing clients, wasting time and resources, and …
Welcome to the dynamic world of fintech, where innovation and adaptation are the keys to success. Today I want to share with you the latest news from the highly anticipated Fintech Nexus USA 2023 Conference, an event that brought together the brightest minds and industry leaders to explore the current state and future trajectory of fintech.
As finance professionals, you have to pay attention to …
Everyone would love to have higher user retention rates for digital products. Within one month of downloading a mobile app, retention rates are only about 40%, and by month three, they drop to around 30%.
To keep high indicators, you need to create a product that offers real value with ease. This approach will help you retain loyal users and earn long-term subscriptions, renewals, and referrals. …
We’ve already talked about customer-centric approach and how you can leverage it to gain a sharper competitive edge and attract loyal customers. So, now in this article I will be shedding some light on how to ensure customer-centricity in software products.
First, we’ll speak of customer centricity practices and how to ensure accessibility and inclusivity of your software for all customers. Then, …
According to Statista, gross consumer mobile app expenditure reached 170 billion USD in 2021, up from 143 billion USD in 2020. The COVID-19 epidemic had a significant influence on consumer app store purchases since it forced individuals to spend more time at home and move to digital channels for many ordinary activities.
Unquestionably, the mobile app sector is one of the most rapidly developing …
The financial services industry is continuously undergoing dramatic changes in response to regulatory updates, emerging technologies, and operating models. The boom of banking-as-a-service, with its innovative approach to delivering banking products, is a case in point. The PaaS (payment as a service) fintech platform providers enable their partners — which may include insurers, fintech, telecoms, …
Insurance is one of the most conservative industries, so it comes as no surprise that it has been slow in adopting innovation. However, just as fintechs are shaking up the banking and financial services industry, insurtech companies are starting to disturb the insurance world. Today around 86 percent of insurers believe they should innovate at a rapid-fire pace to keep up with increasing demands …
Dozens — a digital branchless financial institution, the technical partner of which is Dashdevs, entered the UK Startups 100 Index with the top 25th position. The Startups.co.uk entitled Dozens a game-changing product for its approach to making financial services affordable for most customers.
Hip-hip and hurray!
The fintech startup aims to help its customers with money management in the most …
The year 2018 is over. This period was a full plate of great projects and prospective products for our sci-tech crew. Some projects were a challenge for us but the results we’ve got are colossal. Dashdevs has developed and released a digital bank, several messengers, loyalty programs, e-commerce, retail and news applications.
When you working hard it is difficult to get a sense of your true-life …
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