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By Paul Marcantonio, Executive Director UK & Western Europe at ECOMMPAY
For the longest time, the West has been ahead of other markets in terms of financial technologies. Everyone knows Silicon Valley, London, and New York as the top 3 biggest fintech hubs globally, with London alone having 847 private, high-growth UK fintechs based in the city as of July 2021.
However, with the pandemic having forced many nations to adopt digital payment methods, shifting to a more cash-less society, we are beginning to see rapid developments in emerging markets which many believe will “leapfrog” the West in the digital payments industry. These emerging markets have used the opportunity from the pandemic to adapt to the digital internet age faster than their western counterparts.
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