Fintech boom falters as cash becomes king
The pandemic has pushed fintech firms into a moment of reckoning. What innovations may come out of it?
The moment is almost akin to demonetization. The queues outside ATMs are back. Financial regulators and governments are pitching for digital options to avoid those
MUMBAI : At the posh Alta Monte building in a Mumbai suburb, where apartments sell for close to ₹3 crore each, residents have been queuing up for the past few days to withdraw cash using a fingerprint scanner. Aadhaar-based payments, touted so far as the source of quick access to funds for people dependent on government benefits, has now reached gated communities across the country’s financial capital as people stay away from venturing out to use automated teller machines (ATMs).