Which payment technology uses an advanced, ultra-low power wireless transmission to send data via sound waves, without requiring an internet connection?
Sound wave-based (SWB) or Sound Signal-based (SSB) mobile payments
This payment method involves paying for a product or service via a text message, with the cost being added to your mobile phone bill.
Short message services (SMS)
Which payment technology uses a secure tokenization system to ensure its security?
Magnetic secure transmission (MST)
This challenge arises from different regulatory approaches across jurisdictions, creating complexities for FinTech companies operating internationally
Fragmentation
What is the main security method used by mobile wallets to protect payment information which generates time-limited numbers for transactions?
Tokenization
This regulation mandates strict rules for collecting, storing, and using personal data, such as GDPR and CCPA
Data Privacy
What is the technology that uses close-proximity radiofrequency identification to process contactless payments between a phone and a terminal?
Near Field Communication (NFC)
This regulatory tool provides a controlled environment for testing innovative financial products and services
Regulatory Sandbox
An area of fintech that uses data-driven insights and automated algorithms to manage investments and provide financial advice.
Wealth Management
Which challenge relates to the difficulty of getting people to use new mobile payment technologies?
User Adoption
Which technological advancement has made financial services accessible to billions of people worldwide through handheld devices?
Mobile Technology
Type of computing enables scalable and cost-effective solutions for financial institutions by delivering services over the internet.
Cloud Computing
This is a significant challenge for regulators as they often struggle to keep up with the rapid pace of technological advancements
Financial Regulations
This is a broad term for technology-enabled financial innovation that can lead to new business models and products, affecting financial markets and institutions.
FinTech
Jurisdictions like Singapore and Hong Kong have established these to foster FinTech innovation while managing risks
Regulatory Sandbox
What consumer expectation involves creating tailored financial products and services based on individual needs?
Personalization
Most commonly referring to button/link sent where checkout page opens up in an internet browser where recipient enter card details to process transaction
Payment links or Pay by link
What tehchnology from 2010s allowed for direct transactions between individuals without a traditional financial intermediary?
Peer-to-Peer Lending
In what way are Direct Carrier Billing (DCB) and SMS payments similar?
Both methods add the payment to the user’s mobile phone bill or prepaid SIM Card.
This is a type of matrix barcode that is readable by smartphones and can be scanned from a scree, not just paper
Quick Response (QR)
These are cutting-edge, fully digital banking services that operate online or through apps, without a physical branch presence.
Neobanks
Term for the movement to provide affordable and accessible financial services to individuals and businesses who are typically excluded from the traditional system.
Financial Inclusion
This fintech trend involves using machine learning and data analysis to automate processes, personalize services, and detect fraud.
Artificial Intelligence (AI)
What is a key consumer expectation that demands faster, easier, and more accessible financial services?
Convenience
