🚀 Medial just raised $500k in Pre-Series A. Tap to read the announcement. 🎉

Download App

Home

Switch theme

Blog . Feedback . Privacy
Community Guidelines

Back to feeds

Anonymous

Stealth • 8m

🔵 The Global Decline of Cash: Opportunities for Fintech Startups ➡️ Recent data from WorldPay’s Global Payments Report 2024 reveals a significant shift in global payment trends, with cash transactions declining rapidly worldwide. This trend presents exciting opportunities for fintech startups and digital payment ventures. Even in traditionally cash-heavy economies like Nigeria, cash usage has plummeted from 90% in 2019 to 55% in 2023. ➡️ Countries such as Canada, New Zealand, and Nordic nations are already seeing cash become a rarity. By 2027, major economies like France, Singapore, South Korea, the U.K., and the U.S. are projected to see cash transactions fall below 10% of total transaction value. This global shift toward digital payments opens up vast possibilities for innovative startups in areas like mobile wallets, contactless payments, and blockchain-based financial solutions. For startup founders, this trend signifies a golden Opportunity.

1 replies3 likes

Replies (1)

Sajin
•

Foundation • 8m

Disagree. It has already dropped very low, and many people have moved to cashless payments. This means many have captured higher market share and gained a dominance. The area is now saturated, and a highly declining opporunity for FinTechs. Only companies with high innovation can penetrate and break the market.

0 replies

Recommendations from Medial

Nawal
•

SELF • 9m

🔵 China’s Currency Ascends As De-Dollarization Gathers Pace ➡️ As of March 2024, over half of China’s international payments were settled in renminbi (RMB), surpassing the U.S. dollar (USD) for the first time. This marks a significant milestone in

10 replies12 likes

Mridul Das

Stealth • 1d

Flipkart Ventures is betting big on AI-led Startups 💡. They're backing 5 AI-driven startups solving real-world challenges .These 5 startups are- ➡️Xportel ➡️Factors.ai ➡️Expertia.ai ➡️Bharat Krushi Seva ➡️Visa2Fly Flipkart Ventures has funded over

1 replies9 likes

Mridul Das

Stealth • 1d

Do you know that according to industry estimates, processing UPI transactions costs stakeholders approximately 0.25% of the transaction value. In FY24 alone, these costs amounted to nearly Rs 12,000 crore, with Rs 4,000 crore incurred for transactio

1 replies5 likes

CA Dipika Pathak

Stealth • 6m

Dear business🔊 please note your tax audit applicability ➡️Every business, including private limited companies, individuals, and partnership firms (excluding those opting for the presumptive taxation scheme), is subject to a tax audit ifTotal sale

1 replies4 likes

Inactive

Stealth • 5m

Breaking news: Zoho has launched Zoho Payments, a new platform designed for B2B transactions. This service aims to streamline online payments for businesses, allowing them to manage transactions efficiently. Zoho Payments integrates with existing

9 replies6 likes

CA Dipika Pathak

Stealth • 9m

Attention, startups seeking funding! Don't miss out on this opportunity – your next big breakthrough could be just a click away You must have heard about the Flipkart Leap Ahead program. They're accepting applications from April 22 to May 26, 2024

4 replies11 likes

Rudraksh Choubisa

Stealth • 5m

I'm facing this problem Please help me In the hospitality industry, managing cash flow is a significant challenge due to delays in payments from hotels and other clients. Despite timely fulfillment of orders, the reliance on credit terms often lead

4 replies9 likes

Chandan Kushwaha

Stealth • 2m

[This post has been deleted by the creator]

0 replies

Romi Kumar

Stealth • 2m

🚀 We're Building the Future of Payments with Neobiz Payments At Neobiz Payments, we’re revolutionizing utility services, bill payments, UPI collection, bulk payouts, and software solutions with cutting-edge technology. Our secure and efficient pay

0 replies6 likes

Arcane

Stealth • 6m

India's Urban Payment Landscape (Kearney India and Amazon Pay analysis) 🔹Cash is still largely used for transactions of smaller value. On the other side, 68% of Total Digital payments come from UPI 🔹New payment methods such as BNPL are known to a