Advances in technology and the development of the Internet are changing the way people transfer money. With all these technological developments, moving money is simpler than before. Earlier, transferring money meant a visit to the bank. But that is no longer needed as there are various technologies in play to make money transfer easy and convenient.
Everything is at fast paced because of the innovation brought by technology. It actually helps in a lot of industries, especially on the business side. One of the trends that technology has contributed is Digital Currency.
Digital finance is a robust medium to broaden the access outside the financial services to other sectors, which includes agronomy, infrastructure, services, energy among others. People without a bank account are accessing the financial services via the digital medium. Several stakeholders are utilizing the cell phones along with a gamut of agents to provide simple financial services at better suitability and reduced cost against conventional banking. It is also known as “Branchless Banking”.