Giving new meaning to “pay phone”: The year in review and where European fintech is headed in 2022

In 2021, fintech's impact was particularly prominent in Europe as the continent became the largest global economy for cryptocurrency. Digital wallets also became the most popular payment method for online transactions and are poised to overtake cards at physical points-of-sale next year. The future of payments lies in apps and browsers, with APIs & deep linking to connect them. Open banking has a unique opportunity to evolve from helping people understand and access their financial data to enabling them to put it to use via payments with just a click and biometrics. In 2022, we will see more companies pair open banking’s original offering with its new evolution to offer holistic solutions with one integration. Embedded finance in the mainstream is also expected as enterprise and major tech companies introduce new products and experiences. Global ecommerce explosion will continue, creating a bigger need for better foreign exchange solutions.