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The Role of a Processor in FinTech: Simplifying Financial Transactions
In the fast-paced world of financial technology (FinTech), processors play a crucial role in simplifying transactions. By harnessing cutting-edge technology, processors streamline payment procedures, ensuring efficiency and reliability all while being connected to the BIN Sponsor. In this article, we will delve into the definition of a processor in the FinTech sector, explore their responsibilities, and highlight the importance of their role in the industry.
Unlocking Financial Innovation: Understanding the Role of a BIN Sponsor
In keeping with our other articles on what FinTech is and what a programme manager does, this one will define what a BIN Sponsor is.
Neobanks, online transactions, financial inclusion… There are words we use every day that many people may find vague or difficult to understand. No matter how numerous these terms are, there is only one name: « FinTech ». At E-Pay Space, we look forward to sharing with you key concepts of the industry, so you can remain up-to-date with crucial topics.
For this article, we might as well start at the beginning: what is a FinTech? This word is the contraction of the words "Financial" and "Technology". Invented by our Anglo-Saxon friends, it can be translated into French as “Financial Technology”.… But still?