Global consultancy EY has found that FinTech adoption around the world grew to an average of 64% this year.
The report noted India and China led emerging markets, with 87% adoption.
It cited an ‘exponential’ rise in India since a digital push by the government and the demonetisation of a large amount of notes.
Consumer adoption in the US has grown 29.4% in the past four years.
What does this mean?
The report has been picked up by the press in Asia this week, since it’s a positive sign for emerging markets like India to show how leapfrogging legacy tech has paid off.