- Fintech Ecosystem Development seeks to offer a diverse portfolio of fintech-related products and services to consumers and businesses in Europe, South Asia, East Asia, Latin America, Africa, and the United States
- The company is looking to participate in the growing cashless payments space, where global payment transaction volumes are set to increase by almost 300% by 2030
- FEXD intends to acquire or merge with pioneering fintech companies with, among others, a large customer base and the potential to be scaled up to global markets
- By executing its growth strategy, the company looks to equip cashless societies with scalable access to payment technologies and solutions
Consumers around the world were embracing cashless payments even before the COVID-19 pandemic broke out, from tapping a sales terminal with a mobile phone in the U.S. to making QR code payments in China. As a result, professional services multinational PWC writes in a report that this shift from cash payments “might ultimately lead to a cashless global society.” In fact, their analysis shows that the global cashless payment volumes are set to increase from about 1 trillion transactions in 2020 to almost 1.9 trillion in 2025, representing a jump of over 80%. By 2030, it is anticipated that the volume will have shot up to almost 3 trillion, a three-fold increase (https://ibn.fm/KdEgh).
Emerging markets in the Asia-Pacific region and Africa are set to witness the fastest growth. “Asia-Pacific will grow fastest, with cashless transaction volume growing by 109% until 2025 and then by 76% from 2025 to 2030, followed by Africa (78%, 64%) and Europe (64%, 39%),” the report continues. These projections align with the most recent data from Southeast Asia compiled by the Thai office of…
NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD
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