Bridging The Gap

As Covid leaves a yawning gulf between income and expenditure, digital payments spring up to woo buyers with ‘Buy Now Pay Later’ schemes

- Vishav

Our entire lifestyle has been upended in the harrowing time of the pandemic. Besides swapping our priorities, Covid-19 has also brought a change in our financial perspective, and the way we treat money.

From earning and saving, to investing and spending, our relationship with money has been transformed. It has a lot to do with the restrictions, government-sanctioned as well as self-imposed, which barred us from enjoying our social life. Apart from the narrowing down of avenues to spend, another factor was downsizing of incomes for many individuals and households. But the pandemic has also opened a window of opportunities for technology to bridge the void that had been created. Fintech companies led the charge bringing new financial products, and major banks followed.