Examining the FinTech and Digital Payments in Changing Economic Context

Examining the FinTech and Digital Payments in Changing Economic Context Dr. Indumati S. Gangannavar Assistant Professor, Laxmibai Bhaurao Patil Mahila Mahavidyalaya, Solapur Abstract Technology has revolutionized the industries, governance, societies and economies to the great extent. The Financial Technology (FinTech) has emerged as a transformative force in modern economies by reshaping traditional financial services and accelerating the adoption of digital payment systems. Across the world, digital platforms such as mobile wallets, Unified Payments Interface (UPI), and contactless payment technologies are redefining how individuals and businesses conduct financial transactions. In India, the rapid expansion of digital infrastructure and government initiatives such as Digital India has significantly contributed to the growth of cashless transactions and financial inclusion. The present study explores how FinTech innovations are altering economic practices, consumer behaviour, and payment preferences in the digital era. Using a descriptive analytical approach based on secondary data and existing studies, the research highlights the increasing reliance on mobile-based payment systems and the growing role of fintech startups in enhancing accessibility and efficiency of financial services. The findings indicate that FinTech-driven digital payments improve transaction transparency, convenience, and economic participation, while also presenting challenges related to cybersecurity, digital literacy, and regulatory governance. Keywords: FinTech, Digital Payments, Financial Technology, Cashless Economy, Mobile Wallets, Financial Inclusion, Digital Transactions