Fintechs in emerging Europe have seen a surge in demand for their services since the start of the Covid-19 crisis as consumers move away from cash and businesses look for new sources of credit.
Three leading firms in the region tell Euromoney they have seen a sharp rise in both transaction volumes and new clients since March.
Ivo Gueorguiev, co-founder of Bulgarian fintech Paynetics, says interest in the group’s e-commerce products has soared as smaller businesses across Europe have rushed to go digital.
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Ivo Gueorguiev, Paynetics |
“Many traders didn’t have an online presence before the crisis, but with shops closed it’s the only way for them to survive,” he says.
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