Page 15 - GS231202_flipbook

IndustryUpdate

or in physical stores, as they facilitate secure payment Fintech startups reshaping banking, payments
processing, including multiple methods like credit cards,
mobile wallets and electronic transfers. Payment proces- The Branches to Bots – How Startups Reimagine FinTech
sors handle the technical aspects, ensuring safe money report, published by ResearchandMarkets, discusses
transfer, while merchant service providers offer POS the evolution of fintech from its foundational era to the
systems for physical locations and ecommerce solutions present day. It highlights the role of startups in driv-
for online businesses. ing innovation across 15 banking and payments trends,
including decentralized finance, super apps and hyper
Consumers optimistic about 2024 financial outlook automation. The report provides insights into emerg-
ing fintech trends, startup profiles, and their disruptive
Recent Paysafe research shows that after a challeng- potential. It serves as a valuable resource for industry
ing 2023, 49 percent of global consumers are confident stakeholders to stay updated on innovative startups,
their financial situation will improve in the next year. identify trends, and assess investment potential in the
Millennials and Gen Z are particularly optimistic (57 fintech sector.
percent). Many intend to adjust spending habits due to
high living costs, with 50 percent of respondents plan- FYST launches report to demystify acquiring
ning changes. Consumers are prioritizing in-home enter-
tainment (23 percent) over clothing (32 percent). While FYST, an ecommerce payments consultancy, released
some are saving less (37 percent) due to rising costs, 47 its Acquiring Matters report, highlighting key trends in
percent believe they can save more. More people are the acquiring sector. The report covers how AI is boost-
turning to budgeting apps (55 percent), with 38 percent ing fraud detection and payment authorization, the
planning to use them more in 2024. Consumers are impact of COVID-19, and the transformation of mer-
shifting toward experiences (42 percent) over physical chant acquirer businesses through technology-driven
goods. Security remains a concern for online shoppers, innovations. It emphasizes the importance of merchant
researchers noted. acquirers in the payment ecosystem and predicts con-
tinued growth, with global merchant acquiring volume
expected to reach $41 trillion by 2026. FYST aims to help
merchants navigate economic challenges and differenti-

TouchSuite Wants To

Buy Your Portfolio

For Top Dollar

We offer maximum value, flexible
structures, and quick transactions.

To receive a proposal, contact:

Richard Feldman

Chief Corporate Development Officer
rfeldman@touchsuite.com | (561) 609-4776

15