What will be the trendiest sectors in fintech in 2022?
According to analysts offering API services to legacy institutions that serve MSMEs, the top fintech sectors to watch out for in 2022 are:
Buy Now Pay Later
Lets break down these 3 sectors further:
According to research, mobile subscriber penetration across Africa is set to increase by four percentage points to hit 615 million customers by 2025, meaning an upsurge in mobile transacting is certain.
The fastest adopters of mobile payments are small, medium, and micro enterprises (SMMEs), which, according to the African Development Bank (AfDB), account for more than 90% of businesses and almost 80% of employment in Africa.
Some of the benefits these business will be seeking as they move from a, primarily, cash accepting service, include:
Ease of use
Moreover, PoS solutions and QR code payments should be of interest as they continue giving businesses access to loans, insurance, and other vital financial services previously out of their reach.
Chat banking is another hot trend highlighted for 2022.