Fin-tech is the latest buzzword in the banking and finance industry. There has been a lot of talk in the market about it. More and more people are becoming aware of its importance and are trying to get on the bandwagon. Fin-tech encompasses various technologies that help customers manage their finances and allow banks to provide their services more efficiently and effectively. Here are the top fin-tech apps in the banking industry to predict the future.
1. Zelle
Zelle is an app that allows customers to send and receive money from their bank accounts using social media. It is a peer-to-peer payment app that allows users to send money from their bank accounts to friends and family without having a bank account. The money transfer happens in seconds, and the app also alerts users about the incoming transfers. All the transfers are encrypted for security purposes. More than 100 banks have accepted the app, and it is available in more than 50 states in the US, including California, Texas, Florida, and New York.
2. Venmo
Venmo is an app that allows users to make instant payments with their friends or co-workers through their mobile device with a single click on the payment icon on their phone screen. Venmo was launched in 2009 by PayPal, which eBay Incorporated acquired in 2013 for $800 million. This fast-growing company has over 11 million users who have sent over $20 billion worth of payments between them since its launch three years ago.
3. Square Cash
Square Cash is an application that allows people to send or receive money digitally with one another using mobile devices such as smartphones, tablets, computers, or other devices without having a bank account or credit card. The payments are made through a direct transfer or an e-wallet. Square Cash is available on Android and iOS devices.
4. iZettle
iZettle is a payment platform that allows people to buy goods online in different online stores with their smartphones by using their bank cards from any part of the world, even if they do not have a bank account, credit card, or PayPal account opened in another country. iZettle has over 1 million users who have purchased more than $100 million worth of goods online since its launch in 2015.
6. Payza
Payza is an e-wallet provider that allows people to make instant payments worldwide using their bank cards from any part of the world, even if they do not have a bank account, credit card, or PayPal account opened in another country by using Payza’s secure payment platform. Payza has over 10 million users who have sent over $12 billion worth of payments since its launch in 2011.
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