Payments Article 3
PayTech or payment technology is the largest growing sub-segment in FinTech. Emerging technologies such as ML and AI, IoT and blockchain are transforming the digital payment industry. Contactless payment options using wearables, voice and decentralized payment protocols will be the future of PayTech. Cybersecurity, complicated regulatory environment and social concerns about marginalization of cash payers are the challenges for the growth of PayTech.