Headline Diplomat eJournal - Issue 1
The perilous lenses of COVID-19: The impact on the economy
Writes Tayo Williams, Journalist, Headline Diplomat, LUDCI.eu
The coronavirus pandemic has brought the global economy to a standstill. With several governments enforcing varying degrees of lockdown. Businesses, including financial institutions, were shuttered to prevent the spread of the novel virus.

While we do not have a complete picture of the impact of the crisis on the global economy yet, isolated data and trends from individual industries are beginning to emerge.

The Fintech industry has since the outbreak of the virus come under intense stress. Though, it is not all bad news for the financial subsector.

The current challenge is an opportunity to go mainstream. The need for social distancing and increased demand for cashless transactions mean fintech companies can step in to fill the gap.

Here's where contactless payment technologies that have been tested over the years by these fintechs can help.

Fintechs' innate agile nature gives them a competitive edge over traditional financial institutions. Reuters, reports Nigel Morris, founder of QED Investors "The pandemi...

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