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In order to foster confidence within the ecosystem, effective financial management and trustworthy, independent information assurance are necessities. The volume and relevance of the fintech industry continue to expand, which makes this requirement all the more pressing. Given that these are still relatively early phases, there is a chance for the accounting and finance community to participate in the process of determining future events.
Fintech may be utilized by anybody, anywhere. What this means is that individuals who have never had access to financial services previously now do. Companies working in Fintech are making it possible for more people to escape poverty by expanding access to basic financial services like mobile money and electronic wallets.
Fintech is cost-effective
In many cases, fintech businesses may provide the same service as banks but at a much more affordable rate. Financial technology firms may save costs on labor by using technology to automate routine processes. Because they don’t have to maintain retail locations, they may save money on customer service. The majority of fintech firms have minimal operating expenses and so may pass these savings on to you. Due to their virtual nature, adaptability, lack of regulation as a deposit institution, and access to venture money, FinTechs are able to provide their services at reduced rates, attracting customers.
Vehid’s expertise in the Fintech
Vehid is an experienced financial adviser who helps businesses, their owners, and their clients get the most out of their money. He also helps people take advantage of futuristic technologies like blockchain, AI, etc. Currently, he holds the position of chief executive officer for Palladium Payment Services LLC, the business that owns Pallapay. He also serves as CEO of onlinepayment.us, a New York-based financial technology firm. With his innovative point-of-sale system, Vehid hopes to alter the course of Fintech by allowing brick-and-mortar stores and online marketplaces to accept cryptocurrency payments from customers without the need for staff members to be crypto-savvy. Merchants, both brick-and-mortar and online, may now accept cryptocurrency payments without having to study the market or worry about its value changes. In addition, he developed the first Crypto to Fiat Pos Machine, which eliminates the need for cryptocurrency handling by merchants by converting digital money into fiat currency.
Vehid’s firm, Pallapay
Vehid is the founder of the payment processing company Pallapay, which has its headquarters in Dubai. When compared to its competitors, Pallapay is a safer, more user-friendly, and more secure payment option. Since 2018, the company has been in business, and it was recently presented with an award for being the Most Trusted Crypto Projected 2021 at the Crypto Expo Dubai. It is a web-based service that gives customers the opportunity to sign up in order to make payments in a quick and uncomplicated way. At the present time, its operations may be found in Dubai, the United States of America, Singapore, and Istanbul, among other significant locations. Website proprietors who have a Pallapay account may collect and distribute payments made by their customers in a quick and straightforward way online. These payments can be made by the customers themselves. Due to the fact that it is a digital wallet, you will be able to access it from any computer so long as that computer is linked to the internet. Pallapay has also published a statement on the debut of its new services, which will enable users in Dubai to purchase and trade cryptocurrencies using cash. These cryptocurrencies include USDT, Bitcoin, Ethereum, and over 200 other cryptocurrencies.
