FINTECH DISRUPTED

Op-Ed

Source: China Hands

by Dymples Leong

Published 16 July 2019

The push towards a cashless society by governments and the private sector has led to a rapid global development of the financial technology (fintech) industry. Countries in Asia are increasing their adoption of fintech to meet the challenges of a globalized digital economy, such as access to underbanked individuals and reduction of fraud and scam payments. In times of civil unrest, uncertainty and protests, the attitudes of individuals towards fintech undergo a dynamic reversal as fears of surveillance and privacy violations induce a shift away from going cashless.