Nowadays the habit of making payments with the help of digital platforms is rapidly growing up. In this landscape, the great Indian Fintech startups are found to be a proven sector playing a pivotal role. Understanding the rapid transformation and huge uplift found in technical developments Indian Fintech startup companies are leveraging uniquely to address the south East Asia’s diversified financial needs. Further, we shall analyze how Indian Fintech Startups are acting as a spotlight in Southeast Asia.
South East Asia’s Market Overview
This is one of the biggest regions in the world where about 650 million human lives are found living. Among such a huge population analyzing the need of increased easy payment methods Indian FinTech start ups are acting as the forefront solutions. Here are few important aspects intruding in the market making Indian FinTech startups to expand the boundary beyond the border.
- Increase the use of smartphones
- Craze of using E-Wallets
- Community carrying the majority of the younger generation
- The government’s initiative to use paperless transaction
Startups fostering Indian FinTech
Here we are going to discuss about few relevant startups boosting the Indian FinTect to the shine brighter in the global market.
Paytm
Paytm is actually a digital payment wallet and it has expanded its services greatly to attract a targeted audience. It has also emerged itself into the banking sector and e-commerce and it is striving harder to look upon unique. Paytm has made a great impact in South East Asia by forming numerous partnerships. This act greatly helped this startup FinTech to acquire digital payment acceptance among several countries especially Indonesia. Not only in Indonesia, it has paved the way for Malaysia like other countries too. Patym’s user-friendly Interface has greatly captured the digital consumers widely.
PhonePe
Other than above mentioned Patym Indian FinTech startup company PhonePe has attracted billions of local customers, especially in India. Its UPI-based transactions and being quick in the trend have greatly enabled several digital payment seekers to use PhonePe. Now PhonePe is trying several strategies to explore all parts of south East Asia. Seeing the vast growth of this company in India and its borders countries like Thailand, Vietnam, etc are providing a huge platform inside their country for PhonePe to indulge in their digital payment interface.
Razorpay
This is also an Indian Start-up FinTech which particularly paves the way for businessmen. Attracting the merchants is the key target of this particular FinTech and they accept payments seamlessly from merchants to perform a very user-friendly payment method. Other than these facts they also give a large way for SMEs which has given hands to them to drive great financial inclusion.
Mobikwik
This is the next proven platform that denotes highly that the Indian FinTech startups lead the digital payment revolution in South East Asia. The main cause is that this digital payment platform has its own wallet which gives many options just to make paperless transactions easily. Even though it has to grow still wider competing with its competitors, it surely deserves to be part of Indian Fintech growth.
Cash-free
The very next digital payment platform which evolves as well as Mobikwik is this cashfree. This is a startup company that targets both consumers and businesses eventually. Other than India this cash-free is stepping into USA, UAE, and Canada too.
Final notes
Altogether we can easily understand Indian FinTech startups are greatly influencing the landscape of digital payment in South East Asia and also they are fostering greatly in financial inclusion and driving innovation. It is sure Indian FinTech startups will surely be the greatest in the financial ecosystem very soon.