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Financial Technology and Digital Payments | International Journal of Advances in Business and Management Research (IJABMR)
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IJABMR
Articles
DOI: 10.62674/ijabmr.2026.v3i04.003
Published: 2026-06-12

Financial Technology and Digital Payments

upGrad Education Pvt Ltd, Hyderabad, 500081 Telangana, India
upGrad Education Pvt Ltd, Hyderabad, 500081 Telangana, India
upGrad Education Pvt Ltd, Hyderabad, 500081 Telangana, India
Blockchain Technology Cross-Border Transactions Digital Payments Financial Technology Financial Inclusion

Abstract

The study explores the potential that blockchain technology holds for the FinTech space and gives a detailed examination of how blockchain is transforming the digital payment landscape, that of cross-border digital payments. With digital payments gaining traction globally, blockchain has grown to be one of the buzzwords talked about which can offer solutions to the inefficiencies inherent in cross-border transaction systems.

The global value of the FinTech market stands at USD 340 billion and is anticipated to hit a value of USD 1,126.64 billion by 2032 (CAGR: 16.2%) and the value of digital payments is expected to reach USD 361.3 billion by 2030 (CAGR: 21.4%). Firms connected to blockchain are expected to grow to USD 393.42 billion in 2032 from USD 20.16 billion, with the market's CAGR at 43.6% with growing relevance in financial services.

This study follows a qualitative comparative approach grounded in secondary data analysis by introducing the Institutional Payment Efficiency Framework (IPEF) – a structured evaluation built upon the four core dimensions: settlement speed, cost efficiency, transparency and traceability, and liquidity and intermediation structure. A review of the publicly available institutional reports, investor disclosures, industry white papers and peer-reviewed literature of the three institutional blockchain implementations (JPMorgan Chase's Kinexys, the One Pay FX system from Banco Santander and Visa B2B Connect) examined in the study was conducted between 2018 and 2025. Note that the data presented here in relation to performance (such as settlement time, cost savings, number of transactions) comes from institutions' disclosures and from a range of secondary sources as against independent primary data collection. Under these conditions, the comparative analysis is said to show that settlement time can be cut by more than 90%, transaction costs by 30-80% and that unconventional settlement steps are avoided in comparison to legacy SWIFT or correspondent banking systems.

This study also provides conceptual inputs for financial institutions, fintech and policymakers, highlighting elements for the implementation of blockchain and working out regulatory aspects of digital currencies and cross-border transactions. From a theoretical perspective, it can contribute to the understanding of blockchain as a potential paradigm change in the field of financial intermediation. The study's unique angle is that it performs a secondary analysis of blockchain against conventional payment platforms, instead of just cryptocurrency applications, at the institutional level.

References

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How to Cite

Mohit Dewani, T R, N., & Ramu, S. (2026). Financial Technology and Digital Payments. International Journal of Advances in Business and Management Research (IJABMR), 3(4), 23–43. https://doi.org/10.62674/ijabmr.2026.v3i04.003

Metrics

Article Contents

Indexed In

 

Journal title

International Journal of Advances in Business and Management Research (IJABMR)

ISSN (online)

2584-1718

Publisher's name

Swami Vivekananda Global Academy, India

Established Since

2023

Email Id

info@ijabmresearch.org

DOI Prefix

10.62674/ijabmr

Peer Review

Double Anonymous Peer Review

Licensing

CC BY-NC-ND

Open Access

Yes

 

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