Are you an entrepreneur looking for your next great idea? Or perhaps you are an investor, wondering which sector to invest in next. The fintech sector is ripe for both business ideas and investments.
Globally, the fintech sector is expected to be worth more than $324 billion by the end of 2026, according to Bloomberg, due to increased demand and better internet connectivity. If you want to start a successful business, fintech is definitely worth considering. But which particular segment should you consider?
Start a payment app
The global digital payment sector is set to be worth over $12.5 trillion by 2027, demonstrating huge growth and plenty of potential for entrepreneurs. Setting up a payment app is a great way to take advantage of this momentum as demand for these services grows. Digital payments are the future as our societies move away from cash and, to an extent, cards.
Today, we can pay securely and conveniently by QR code, link, or eWallet. The future will bring even more opportunities to build on this and embrace other technologies, including wearables, proximity payments, and contactless. Finding a niche in this sector and building an app that exploits it is a great way to make a bank in a market that is set for great things.
Services for online trading companies
Over the last few years, thanks in part to the growth of the internet and online accessibility, trading has become much more mainstream. Those that would have never had the opportunity to do it before have been exposed to the ability to trade forex, crypto, stocks, indices, CFDs, and more, via their mobiles or computers. For example, reputable online platforms like INFINOX are built to give traders the leading edge while making the process straightforward, easy to get to grips with, and offering the ability to trade like the pros do.
While setting up an online trading platform might be a bit too much for an entrepreneur, it could be worth exploring other options—for example, ancillary services like marketing, software, security, or payments for online trading companies. Either way, online trading is becoming a booming sector, and as people’s technological and financial literacy continues to grow, this will be an area to watch.
Anything with blockchain or crypto
Over the last ten years, blockchain and cryptocurrency have transcended from something of a fringe technology to one that has been adopted by the mainstream. Whereas it was once something for tech geeks and those familiar with the dark web, now it is used to buy groceries, holidays, and even clothes. Blockchain, the technology that underpins cryptocurrency, has also found a lease of life as a standalone technology, used in every sector from governments to financial services, according to the World Bank.
The industry is at an exciting stage where there is a lot of curiosity and potential for investment without the market being saturated. Plenty of blockchain and crypto companies have gone on to get unicorn status, and there is no reason why you cannot follow them.