Understanding Online Payment Systems: A Guide for Shopaholics In the age of digital commerce, understanding online payment systems is crucial for those who seek control and convenience in their shopping experiences. This comprehensive guide aims to shed light on the various types of online payment methods, delve into the intricacies of credit card payments, explore…
The Hidden Economy of Unused Gift Cards: Realities and Possibilities While many may dismiss unused gift cards as insignificant, the truth is that they represent a hidden economy with vast implications. Some may argue that the value of gift cards lies solely in their ability to be redeemed, but this overlooks the untapped potential and…
Benefits of Choosing E-Gift Cards Over Traditional Gift Cards In today’s fast-paced world, the convenience and control offered by e-gift cards make them an increasingly popular choice over traditional gift cards. With instant delivery and accessibility, recipients can enjoy their desired items in no time. Greater flexibility and customisation options allow for a personalised gifting…
Welcome to our comprehensive guide on Personal Finance. When we speak of Personal Finance, it is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. In simpler terms, it is all about understanding your income and expenditure and finding ways to save, invest, and sustain for the future.
While Personal Finance is a standalone subject, it needs to be viewed in the wider context of the current market trends and the rapid digitisation in the sector that is revolutionising the way we deal with finances. Be it digital wallets, contactless payments, cryptocurrency, or robo-advisors, the finance industry is being overhauled in a significant way.
Bespoke software development companies are scurrying to create unique solutions for personal and corporate financial management. This is driving a new wave of applications and tools that are designed around user-centricity and convenience, enabling individuals to manage their finances efficiently anywhere, anytime.
According to a report by PwC, 77% of financial institutes are expected to adopt blockchain technology as part of an in-production system or process by the year 2020. This adoption will revolutionise personal finance, making transactions more secure, quicker and hassle-free. Another interesting stat from eMarketer predicts that by 2021, the total transaction value in the digital payments space will reach $6,685,102m. This explosive growth is a testament to the tech-based evolution of our financial ecosystem.
The trends are exciting. They demonstrate an opportunity for tech start-ups, companies, and individuals to step into the sphere and build or utilise platforms that are singular, safe, fast-paced and universally accessible. Not to mention the benefits Blockchain technology and AI can bring into the mix. The challenge, however, is in creating a user-friendly experience that is not daunting for those less tech-savvy whilst providing clear, understandable information to manage their personal finances effectively.
Understanding these concepts, emerging trends, adopting new technology, and being aware of regulatory changes are keys to the successful navigation of the financial landscape, whether as an individual, or a business entity. These aspects are constantly evolving and can have far-reaching impacts on one’s financial future if not understood and used effectively.
For a more insightful read into these topics, feel free to browse through the Personal Finance section of our blog. You can also explore our broader range of content on our main blog page. If you’d like to discuss anything you’ve read, or have any queries, don’t hesitate to contact us at Me-too.com.