Consumer Fintech On The Rise After Covid
It has been a strange time of year for many. The world has been in the depths of a global pandemic that has far reached what anyone thought would happen. There is no denying that this has had a severe effect on the world, especially when it comes to consumerism and how people operate in their lives. Businesses have had to shut, people have had to work from home or more severely lost their jobs. It has seen a lot of change when it comes to how we live our lives.
But things are starting to get better and there has been a rise in consumer fintech and the way people are living their lives again, which is only good news for businesses and sectors across the world. With that in mind, here are some of the ways that consumer fintech is finally on the rise after the first peak of the Covid-19 pandemic.
Paypal is showing profits
One of the first things to note is the profits that the online payment system Paypal is showing at this stage of the year. This is noticeable because there has been a sharp rise in the use of online retailers and using this as one of the easiest forms of paying for things. While there hasn’t been massive profits that are sweeping the stock markets and making big changes in that area, it is enough to excite people that things are starting to improve once more.
The house market is back on the rise
Another thing that you might have noticed is the housing market is back on the rise. People were forced to stop with any house purchase in the middle of things as the coronavirus epidemic swept the world. But how things are starting to improve once more and with that you are seeing people not only completing their contracts but also buying houses again. This has been noted with a sharp rise of people looking for the best home loans they can get. The more people that start to make these big moves again, the more the economies across the world will start to rise once more.
Apple and Samsung pay being used more often
As people are wanting to use things in their hands less and less, fintech has seen a rise in the use of people paying with Apple or Samsung pay. This is where many people upload their cards and use their phones as a contactless device for making payments. It is an easy and effective way to create a cashless transaction and because of the encouragement of using less cash right now it is proving a popular way to make purchases.
Crypto currencies being encouraged with investments
Crypto currencies such as Bitcoin have always been bubbling under the surface when it comes to investments, but as things are starting to improve within the world, they are rising once more. This is noticeable in the West but it is certainly going to be making some big comebacks as we head into 2021. With more transactions taking place in the digital world, it shouldn’t be a surprise that crypto currencies are starting to prove popular not just within business transactions but also in the consumer world and to help build economies.
More investments in general
There are more investments being made now. This might be on a personal level when it comes to big purchases like houses or making plans for retirement by investing in long term plans or in the stocks and shares market. But businesses are starting to show profits again as things are starting to improve. There is a lot of positive press right now in terms of investments and how people are making them. This is showing that consumer fintech is finally not rising after a questionable year.
The US election bringing uncertainty
There has been a lot of uncertainty in the last few months in the west when it comes to the US election. It doesn’t just impact the USA, it also has a major impact on the rest of the world as other leaders look to the west in terms of trade deals and transactions. As this comes to an end, the uncertainty will stop and this will start to stabilise the global markets and bring some order back to the stocks and investments sector again.
UK Brexit nearly complete
The UK will exit the European Union at the end of this year and while there has been a lot of uncertainty in terms of the way they are operating with trade deals and the worry of a no deal Brexit, as it draws toa close, the world markets and consumer levels will stabilise again. This is only going to be good news. With a lot of uncertainty presented this year, it hasn’t been great in terms of investments or encouraging people to build the economy. Especially at a time when it needs the support.
Covid vaccine on the horizon
Covid-19 has been the biggest threat this year there is no doubt about it, and while it has had a massive impact on the economy, investments and the way people operate, you should also note that there have been massive waves made when it comes to finding a vaccine. This is only going to be good news in terms of the world and how people feel about getting back to some new normal. The more the good news comes of vaccine trials, the more businesses can start to get back to normal and people will start to make purchases once again. This is going to be the biggest comeback and the vaccine has much to do with the recovery period.
There is no denying that this year has been pivotal in terms of changes. But with things starting to improve it is great that we can now see the light at the end of the tunnel. Let’s hope some of these suggestions have given you hope.