The Evolving Landscape of Financial Payments in the Digital Age - Fintech, financial wellbeing, corruption, fraud and policymaking

The present study aims to explore the implications of digitization of payments around the world and provide an overview of how financial payments are managed in the Digital Age. Emphasis is put on the globalizing concepts of digital technologies. Studies conducted in various parts of the world are reviewed in a thematic manner to showcase how diverse the digital economy is. The paper is particularly focusing on exploring the socioeconomic impact of financial technologies and the present imbalance in socio-economic divisions, by showcasing the implications of the digitalisation of payments in the Global South. Simultaneously, it examines the transformative effects on corruption and financial fraud. Ultimately, it calls to attention the government’s role in policy making.