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FinTech Everywhere, but in Different Contexts

In advanced economies FinTech firms are focused on enhancing the efficiency and profitability of financial institutions. Financial inclusion, however, is an important dimension relevant to emerging economies. FinTech can alleviate these difficulties posed by limited access to financial services.

Mobile payment services are blooming in China. Chinese users can now use these services to purchase goods and pay bills not only at domestic shops or even street merchants, but also at overseas stores. Equipped with a stable working system, Chinese service providers are trying to expand their territory into nearby countries where payment systems remain underdeveloped.


Beginning from the early 2000s, the payment and settlement system of Korea has been re-shaped and reinforced around credit cards, and this transition was made possible due to the well-penetrated banking sector. Still, there is room for further innovation in terms of consumers’ convenience built into a robust payment and settlement system, but regulation reforms should precede for ideas to materialize in this direction.

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공공누리 OPEN / 공공저작물 자유이용허락 - 출처표시, 상업용금지, 변경금지 공공저작물 자유이용허락 표시기준 (공공누리, KOGL) 제4유형

대외경제정책연구원의 본 공공저작물은 "공공누리 제4유형 : 출처표시 + 상업적 금지 + 변경금지” 조건에 따라 이용할 수 있습니다. 저작권정책 참조

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