Fintech to dominate payments by next year

Half of all payment service providers will be digital only by next year, following a 51 per cent growth spurt of e-money firms between 2017 and 2018, a new report suggests.

The “UK Fintech Revolution” study was conducted by financial services and IT recruiter Robert Walters and market analysis outfit Vacancy Soft.

Ollie Sexton at Robert Walters said: “Technology has transformed the way we do pretty much everything. The emergence of fintech start-ups has made it easier for people to invest and make payments.

“The pace of change has been so rapid over the past five years that the perception of digital banking has shifted from an ‘option’ to a ‘requirement.”