A one-stop platform that offers multiple services gives an app the “Super” status. Super apps have been a part of many discussions that have stemmed from the feasibility and practicality of super apps compared to single-service provider apps. The majority of the super apps that have long been in existence started as single-service providers.

The Chinese app “WeChat” started as an online messaging platform that allows people to connect, chat on its digital platform, make voice and video calls, share media, etc. The app then augmented features like ride-hailing, scheduling pickups, grocery shopping, and much more. Today, WeChat is one of the most powerful super apps dominating the Chinese market. 

Many other super apps have shown a similar trajectory, like Uber, which is now branching out from its primary service of taxi pickups and drops to online food shopping, cars, bikes, and scooter rentals. Uber is currently planning to add grocery shopping as one of its services in some of its markets. 

The advent of super apps wasn’t an entirely new concept as it is a conventional expansion strategy with physical organizations also prevalent everywhere. Super apps follow the same steps in a digital space where they expand their operations into new service areas, markets, customer segments, and more, to grow. 

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Super Apps and Fintech

One of the most enthralling aspects of super apps has been their nature to pivot towards fintech. Most super apps leading in different global markets started in distinct service sectors and almost mandatorily augmented fintech to their portfolio. The applicability and relevance of fintech could not have been more pronounced than what we see with super apps. Organizations all over the world are transcending into digital spaces, where fintech is the most demanded augmentation.  

Top-rated Super Apps in the World

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Alipay 

With more than a billion users, Alipay has now become the largest digital payments application. Owned by the Ant Group, China, the app offers a multitude of services like digital payments, e-wallets, taxi services, online food ordering, remittances, insurance schemes, hotel bookings, and much more. Alipay is also one of the prime examples of where payment applications have put gamification strategies to good use by providing heavy discounts, points, and rewards.

Grab

Launched almost ten years ago, Grab is now known as the largest super app in Southeast Asia, to offer multiple services on its platform, like taxi services, e-payments, hotel bookings, online food ordering, grocery shopping, video streaming, and more. What started as an app dedicated to taxi services has now grown multifold to include multiple categories of services under its umbrella. Several factors that have helped Grab achieve a leading position are its elaborate network of delivery partners, its focus on UX/UI (user experience/user interface) on the app, its strategic expansion into different service areas, etc. 

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Gojek

Gojek is an Indonesian super app that has now spread its services beyond the Indonesian boundaries to neighboring countries, like the Philippines, Singapore, Thailand, etc. Gojek is Indonesia’s first unicorn that also found a place in the 2019 Fortune’s 50 list. It offers services across several categories like taxi services, e-payments, online food ordering, grocery shopping, etc. Because of its stellar performance and breakthrough strategies, several professionals have analyzed and assessed Gojek’s journey and business strategies, to use as blueprints in planning new super apps. 

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OMNi

Founded in 2019 in Costa Rica, OMNi has become one of the most successful super apps known to the world. With a wide array of functionalities, like bike sharing, fintech, and healthcare services, this super app aims to equip its users with better control and efficient services in these mainstream industries. Its e-wallet and e-payment services have received immense praise. Having established its presence across Central America, OMNi is currently also planning to expand its operations to Southeast Asia. Although, with Gojek and Grab already winning the Southeast Asian market, OMNi’s entry would need well-thought strategies to enable it to cater to an area that excels in super apps. 

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The Future of Super Apps

Super apps have been the thing of the East. Asian countries like Singapore, Indonesia, India, Thailand, the Phillippines, and others have already proven their metal in building super apps. There is a tremendous cloud of opportunities for the super app market that fintech can supplement. In the past few years, there has been massive development on the technological front, but it doesn’t mean that we’re nearing the end of the road of advancements and innovations. 

Super apps have the power to change the dynamics of the current setup by merging several services into one platform. Companies like Square, PayPal, and the likes have already acquired a higher share of the global economy than behemoths like Facebook, Apple, and Google in fintech with their super apps. It is only a matter of time before more opportunities unfold, and we see numerous other organizations taking longer leaps in the development of this industry.

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Fintech has had an explosive growth trajectory in the past few years that has disrupted the existing financial system and deeply influenced the business world. While consumer fintech has stolen the limelight owing to a large number of participants, business-to-business (B2B) fintech is also robustly catching pace with numerous B2B fintech operators and providers emerging globally.

With challenger banks, e-payment platforms, cross-border remittance gateways, etc., becoming the new normal among the masses, there’s little space left for doubts about the scope and control fintech has on the world. As more organizations are spiraling towards fintech, more business opportunities are opening up.

B2B fintech is one such stream of this new-age digitalized world, where fintech firms are creating products and offering services to supplement and cater to business organizations. Although the pace of digitalization has only been invigorated recently, fintech has been a part of the world for quite a few years now, and so has B2B fintech.

Fintech has gained popularity and reaches in phases, just like the internet, where Web 1.0 – the read-only format, was introduced to us in the ’80s. Today, people are relentlessly working on shaping the third phase of the internet, Web 3.0, as the future.

B2C and B2B fintech have followed a similar path of evolution and intent. From 2020 till now, B2B fintech has evolved remarkably and is already treading towards owning a substantial market share. So, the question remains, what is B2B Fintech

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B2B Fintech

Over the past 20 years, there has been immense growth in the B2B sector in several industries. Fintech, in particular, has witnessed outstanding developments with companies like Paypal, Square, Afterpay, and many more, emerging as global leaders providing business-focused services and products to help facilitate business operations.

Paypal is one of the oldest and most successful fintech firms in the world that has brought tremendous relief to consumers and businesses alike with its strategic B2B2C structure. By providing embedded point-of-sale payment options and enabling customers to make seamless transactions directly with merchants, Paypal initiated the financial disruption where all kinds of payments were either conducted through cash or the banking system. Paypal provides a platform for companies and merchants to set up accounts that allow them to receive payments from domestic and international customers without any hassles. With a market valuation of over $230 billion, Paypal has become one of the biggest names in the world of fintech.

B2B fintech started with laying focus on two pillars: banking-as-a-service (BaaS) and payments. After the emergence of many companies developing services and products surrounding these two branches, B2B fintech got churned into an opportunity-laden bucket that redirected its focus on more sectors, like lending, insurance, commercial infrastructure for companies, and software-as-a-service, etc.

Today, numerous B2B services exist in the fintech industry that aims to facilitate easier business operations like RegTech, compliance, cyber security, fraud detection, and many more.

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Fintech Services in B2B

Out of the uncountable new developments that have proven to be very rewarding in the B2B fintech spectrum, the following have been the most popular:

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Cross-border Remittances

Because of the massive reach of the internet, global connections have improved extensively, giving way to more business opportunities. Cross-border remittances and international e-payments have become the way of life for countless individuals because fintech bridges the gap between international boundaries. Businesses, both small and large, can operate internationally and can cater to a much larger audience compared to earlier. Companies providing international e-payment and remittance services and capabilities enable individuals and businesses to operate seamlessly, where they can make payments for their staff internationally, collect payments from overseas customers, and people working outside their home countries can quickly transfer money to their families using such platforms.

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Fraud and Risk Evasion

B2B fintech has also redirected its focus on risk management, evaluation, and fraud detection. By providing eKYC platforms, businesses help their associates like banks and financial institutions in verifying and authenticating new on-boarders, which, in turn, has proven to be an essential prerequisite for financial service providers.

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Lower Operational Costs

B2B fintech also encompasses the provision of digital infrastructure, which significantly lowers operational costs, as businesses and organizations can choose to hire third parties for managing or enhancing services, instead of investing time and resources themselves.

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Application Programming Interface (API)

Technologies like API help transfer technology from one organization to another, which aids banking and financial institutions in attaining digitalized positions. Banks and financial institutions can offer online banking, lending, insurance, and other services, which would have been next to impossible without the involvement of third parties. 

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Final Thoughts 

B2B fintech has tremendous potential across the world, owing to the multitude of readily-available technologies, like artificial intelligence and machine learning, that makes space for a massive magnitude of developments. With the onset of fintech, people have become habitual of better control and easier access to complex services, which was otherwise not possible.  

As more and more people adopt fintech into their everyday lives, the scope of services offered under the fintech umbrella increases. The growth of B2B fintech is directly related to the adoption rate of technology worldwide, which is massive, resulting in a promising future for this sector.

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The world of fintech has undergone exponential growth in the past few years, which was further propelled by the pandemic. Fintech has become a way of life for many of us due to its versatile adaptability, applicability, and practicality. A few years back, it was hard for us to imagine having minimum paperwork, no queues, conducting international transactions from the comfort of our homes, and more. Today this has become a part of our daily routine, where we bank and transact online and with ease. 

One of the primary factors for the growth of fintech is the adoption of smartphones globally. The smartphone market has scaled up unimaginably, giving way to more users and participants. As the average age of the global population is 30 years, the reason behind the inflated number of smartphone users becomes clearer.

The smartphone market came into existence to facilitate connectivity and communication between people. Individuals could chat and communicate seamlessly with each other. Another key reason behind the advent of smartphones with big screens was graphics and the gaming experience. With impressive graphics comparable to gaming consoles, users felt compelled to pivot towards smartphones. These became an easier choice for their usability, functions, and the heightened experiences of communicating, gaming, etc.

Today, as more and more users adopt smartphones, the potential and reach of fintech are increasing, which has given rise to the need for fintech education. 

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What is Embedded Fintech Education?

We have always been taught how investing is crucial for growth. However, without the proper understanding and knowledge about investing, the different platforms involved, the return estimates, etc., it would be detrimental for an individual to invest anywhere. 

Similarly, with fintech users on the rise, it has become critical to teach people about fintech, the terminology, the available choices, etc., and implant media that would facilitate fintech education.  

Here is where embedded fintech education comes into play.

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The Importance of Embedded Fintech Education

Embedded education options in fintech media and channels have gained immense importance, as users need to know about the different aspects of fintech and how their fintech choices can and might affect them. Below are some of the many reasons why embedded fintech education is gaining ground.

1. Learning On The Go

Fintech is an ongoing process that is continuously and rapidly evolving. Fintech users are learning about these changes as they happen. While some users dive deeper into these topics to better understand fintech, most users don’t. Such lag leads to a risky market, where users operate fintech resources without completely understanding the outcomes. 

The extent of fintech education can be improved by employing embedded systems in channels and platforms that are frequently operated by users. Learning on the go has proven beneficial as users are more likely to remember meanings of new terms through first-hand experiences instead of theoretically.  

2. No Special Courses and Extra Investment

With embedded systems, users don’t need to undergo special courses to improve their fintech knowledge, which also helps them save on investing in such courses. Embedded systems have proven to be a much more convenient option for users and companies. With embedded education, companies can have better control over their customer’s knowledge pools, leading to deeper relationships with them. 

3. Better Understanding of Fintech

The more customers learn about fintech and its different aspects, channels, and terms, the better understanding they develop of how they can use fintech to enhance their financial positioning in the market. With fintech robustly evolving and branching into different and new sectors, it has become imperative for consumers to learn about and understand its reach and applicability, which would eventually help them use their resources better.

4. Better Fintech Userspace

With users understanding fintech resources and the market better, the likelihood of risks in the fintech market decreases. Making informed decisions and choices by the consumer is as crucial to the industry as its investments. Fintech decisions and trends have the potential to change the entire dynamic of the global market, making it critical for consumers to develop a good understanding of fintech products and services. 

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To Conclude

With the rising stakes in fintech globally, the need for customers to develop a better understanding and knowledge of fintech terms, products, channels, services, and more, has become imperative. As most customers would not go out of their way to invest their time, money, and resources into learning about an industry, the onus gets transported to fintech companies to ensure that their customers are informed and aware of the different fintech suites available globally. Embedded fintech education allows companies to place optional educational tools in the way of their customers while they operate fintech applications, transactions, etc., to give them the option of exploring meanings, gaining more insights, and the news.

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Fintech is rapidly expanding its reach and involvement in almost all sectors of our lives. Online banking, easy credit, crowdfunding, global remittances, and so much more are now possible because of the versatility and vast applicability of fintech.

The global food industry is one of the most successful industries due to its essential standing in our natural system. It has massive control and influence over major global markets, relationships, and decisions. With the uprise of the fintech industry, there has been a congruous integration of financial technology with the food industry, resulting in an influx of novelty and innovative ideas resounding the vast scope of technologies. 

Although the food industry can be bifurcated into two parts, the agricultural sector, and the retail food segment, it primarily comprises the latter. In this article, we will focus on the growth and development of fintech in the food and beverage industry.

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The Food and Beverage Industry

The global developments in the food and beverage industry have been enormous, due to some reasons. The industry is expected to grow by more than $6,500 billion by the end of 2022, with a CAGR of 9.7%, and almost by $9,000 billion by the end of 2026. 

The two main reasons behind the expansive growth of the food and beverage industry are the global population explosion and the increasing adoption rate of technology. With the people’s participation steadily multiplying globally, it leaves little room for the non-development of this mainstream business sector. 

The integration of finance and technology has influenced the core functions of several major segments, and the food industry is no different. Numerous platforms and services are being offered by several companies that supplement an efficient and innovative food industry. From small businesses to behemoth chains, the application of fintech has been quite versatile. 

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Fintech in the Food Industry

The number of opportunities for fintech in the food industry is countless due to the scope of the technological developments that can help streamline and boost this industry further. The following platforms and services have been the most popular:

1. P2P Lending

Peer-to-peer lending has been one of the most helpful applications of fintech in the global environment. When it comes to the food industry, uncountable small businesses are relying on P2P lending platforms that help set up and sustain their businesses, proving this to be one of the most relevant uses of fintech in the food industry.

2. Sorting Food Wastage

Food wastage is directly associated with financial losses. Every produce or product that goes to waste suggests financial loss, which is detrimental to an organization’s financial health in the long term. Several companies like Agromovil in Colombo have created platforms that link small-level farmers to combat the problem of food wastage, bringing a big win for fintech.

3. Investments

The competition levels in the food industry are skyrocketing, resulting in small and large businesses needing to invest in machinery and technology that helps them automate some steps of the processes. 

To facilitate small businesses in purchasing high-priced technology, many companies like Siemens are offering financial solutions like rentals, leases, usage-based programs, and more to ensure empowerment by lowering operational costs and increasing operational efficiency.

4. Point of Sale Services

With the rise in the number of online and virtual payments in the food industry, multiple payment methods have surfaced globally, inviting customers to make payments by choosing from whichever payment method suits their needs. 

5. Others

There are several other applications of fintech in the food industry, like gamification, where food applications enable users to earn points, which they can then redeem in the form of discounts. 

Apart from these, there are countless other ways in which fintech has proven to be a true winner in the food industry, in terms of versatility, usability, and novelty. 

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Other Applications of Fintech in F&B

Because of the tremendous potential of fintech innovations in the food industry, the number of patent applications related to fintech in the food and beverage industry has increased. PepsiCo Inc has the highest number of patent applications, followed by Uni-President China Holdings Ltd.  

The largest market for the F&B industry is the Asia Pacific region, followed by Western Europe and North America.  

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To Conclude

 The food industry is robustly expanding because of the growing number of participants. As more cultures interact with each other along with the increasing use of the internet, the more scope there is for the food industry to evolve and change, giving way to more fintech opportunities. As both industries evolve individually and together, the expanse of technology increases, ensuring a very competitive environment in the future. 

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Remote working is rapidly picking pace in the global working setup nowadays. Only a few years back, remote working was seen as an alternative to only a handful of companies policies. In the present day, remote working not only became the saving grace during the pandemic but has also proven more efficient and beneficial for many industries. Thanks to the brilliant scope and reach of technology, many of us had the privilege and opportunity to continue in remote setups.

Many companies have now started offering remote working setups owing to the massive success of remote working and its contribution during the pandemic. A large number of these jobs offer permanent remote working systems. 

A few industries have witnessed the impact of the growing demand for remote workers globally, where it seems to have achieved an exhilarating niche, fintech being one of them.

Fintech has been in the limelight for some years now, owing to its rapid development and evolution, which has disrupted some of the mainstream past practices. With fintech’s steaming engine refusing to die, the industry has become one of the most valuable industries ruling the global economy. Unlike other industries that underwent turmoil because of the pandemic, the fintech industry experienced an excellent growth trajectory. 

The prominence of online payments, tap-and-go payments, cross-border remittances, e-wallets, UPI (Universal Payment Interface), and many more technologies grew globally due to the impact of Covid-19 on businesses and our daily lives. With governments imposing nationwide lockdowns, it became impossible for people to sustain their businesses, jobs, and livelihood and provide for their families, giving rise to the need for alternatives to the existing setups. 

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Remote Working Prompting Fintech Opportunities

Although driven by the pandemic, remote working and fintech have developed a symbiotic relationship, where both have considerably benefitted from the other. Fintech’s contribution in facilitating remote working is undebatable. Powered by technology, the fintech industry has broken several conventions and made pathways that have helped connect the world better. With remote working’s application and prominence actively growing, there have been uncountable growth opportunities for fintech. The most distinguished category that has driven the success of this symbiotic relationship is e-Payments.

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E-Payments and Remote Working

E-Payments have been one of the single-most effectual factors that have helped people sustain their businesses, livelihood, and jobs during the pandemic. As more and more people work remotely, the role of e-payments takes a bigger and more relevant shape.

People living in cities all across the globe are ordering food online like never before, giving rise to fintech opportunities. Concepts like “Staycation” and “Workation”, have emerged due to the growing prominence of remote working, giving way to more fintech opportunities in the form of virtual cards, online payments, etc. Remote working has also had a massive contribution to online shopping. Being confined to limited space with limited people nudged the masses to explore online shopping like never before, which gave behemoths like Amazon even further success. With the online market becoming the new normal, countless new businesses established an online-only presence, compelling many existing businesses, to also explore and offer online portals, making way for more fintech integration. 

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Final Thoughts

The roles of fintech and remote working have genuinely flourished with time, and their importance has grown exponentially across the globe. Fintech has seen some remarkable opportunities come it’s way owing to the growth of remote working. As more people choose remote working over fixed offices, the number of fintech opportunities grows. Remote working and fintech have grown extensively together throughout the pandemic, and even today they continue to rapidly expand.

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The past few years have witnessed a rapid takeover by digitalization in several industries. There has been massive inflation in the dominance of digital platforms and services, from automobiles, healthcare, and consumer goods to financial services. Out of all industries, the transition of the financial sector to digitalized and automated platforms has been most evident and rapid. 

With fintech startups and organizations developing technologies that have successfully disrupted the existing system, people have had countless opportunities to explore and grow their financial health. 

Digitalization has opened doors for diversified investment options, like digital gold, cryptocurrencies, NFTs, digital real estate, etc., empowering people with better investment options. All these options have received a warm welcome globally, owing to their accessibility and quick and simple trading. 

The key factor that has induced their immense popularity among the masses is their newness in the market. It is common knowledge that the value of a new product or an asset is usually at its lowest when its demand is on the cusp of reaching its peak. While the demand for all these digital assets and products has increased manifold in the past few years, there is still a lingering notion that their value would gradually inflate over time, giving rise to lucrative investment options and, in turn, a high demand.

Digital Gold is a slightly different investment option compared to the other digital products available for investment nowadays.

Digital Gold

Investment in gold jewelry and products has always been perceived as a lucrative option globally. Yellow metal is one of the fundamental factors that influence the world’s economy. The traditional method of investing in gold is to purchase the physical commodity and store it in various forms, like jewelry, coins, biscuits, bricks, etc. 

However, digital gold brings people the best of both worlds, where its valuation is the same as its physical counterpart, and investors can relax and buy smaller quantities of gold according to their budget instead of the weight of the gold. The principal USP of digital gold is its practicality, where the virtual value remains the same, without any restrictions on the minimum amount. Owing to this freedom, people have found digital gold to be one of the most practical investment instruments.

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How Digital Gold Works

Just like a stock trading market where stock buyers purchase stocks from companies and hold them till their value grows, by either selling or purchasing a few, till the buyer has reached the blissful place beyond breakeven, the digital gold market thrives on a similar concept. 

Investors can purchase digital gold for the lowest monetary valuation and can keep adding to it over time to build their digital gold portfolios. There is immense freedom in the digital gold market, making it one of the most viable investments.

Benefits of Digital Gold

Other than the freedom of investing in digital gold, there are a few other benefits that it offers:

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Safety and Security

With digital gold, investors need not worry about its safety and secure storage as it exists virtually on insured platforms, which implies that it is safe from robbery and other malpractices. 

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Freedom of Investment Value

There are no limits on the minimum value invested in digital gold. An investor’s digital gold portfolio can be as low as they want and can increase over time up to a maximum limit. 

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An Asset for Collateral

The value of the digital gold can also be used as collateral against loans, which is a useful value proposition for small loan amounts as people can then protect other assets that allow lower liquidity. 

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Easy Trading

Digital gold can be traded easily on digital platforms, providing immense freedom for people of various age groups with different levels of knowledge about the market and economy.

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Genuine Commidity

Digital gold is 24K yellow gold, with a purity of 99.99%. If investors want to convert their digital investment into physical gold, they can be assured of its genuineness.

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The Risks Involved

The digital gold has proven to be a successful investment instrument for many amateur and professional investors. However, virtual gold has its risks and cons that decrease its viability.

 In some countries, inadequate regulations surround digital gold, leaving an open space for a risky future. Another disadvantage is that there is mostly an upper limit for investing in digital gold, which restricts investors who want to invest large sums in digital gold. Adding to the woes of digital gold investors is another downside, which is the limitation on the period that is allowed by platforms to store digital gold. Sometimes, digital gold investment providers restrict the time allowed for an investor to store their gold, after which they would have to either sell or withdraw their gold investments.

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To Conclude

Digital gold has proven to be an easy investment choice for many people, especially those who want to invest low sums of money for shorter intervals without the risk of an unstable economy. Gold is an invaluable metal revered globally, making it a lucrative investment option. As gold prices continue to rise, there is hope for the market of digital gold to inflate. The developments in technology and fintech have been massive, adding to the bright future of digital gold. With increasing demand and rapid developments, it is safe to say that digital gold will continue to become a powerful investment instrument in the coming years.

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