Delayed payments can disrupt a business’ cash flow management - no matter the size of the firm. Businesses that conduct cross-border payments are well versed to the financial barriers caused due to geographical distance or technical impediments.
Hence, the continuity of growth in FinTech; an industry that uses technology to improve traditional financial services. The FinTech industry can be divided into the following:
1. Online and app-based money transfer services
2. Cross-border banking packages
3. The potential of cryptocurrency