A webinar on Digital Payments and Lending Trends was held on 27th June. The speaker for this e-talk was Mr. Krishna Das, who is the Vice President for Business Development in Fin Accel (Singapore). He has been highly involved in Product Management and FinTech Business for almost 10 years now.
The e-talk began with Mr. Krishna talking about what people tend to do with the money they receive, some of us tend to spend it while some of us invest it, also there are people who prefer to donate a certain amount as well. The channels through which we receive cash or through which most of the transactions are made mostly consists of cash, cheque or cards. Cash is still one of the leading modes of money transfer. There’s also e-money and e-wallets as well as remittances which are mostly between countries. He then explained the how American Express, Visa as well as MasterCard works on the process level. Then he talked about how Visa and Mastercard never hold money as compared to American Express which holds money as well. American Express had a revenue of 43 billion dollars in the year 2019.
This session immensely helped the students to understand the FinTech industry, the various channels through which monetary transactions take place in our world. The guest lecture concluded with a question and answer session where students got an opportunity to clear their doubts.