India's position as the world's third-largest fintech ecosystem is now translating into a larger platform-building role. Global financial technology companies are increasingly turning to the country for product engineering, artificial intelligence and cross-border infrastructure. The country's fintech sector is estimated at USD 111 billion and is projected to reach USD 421 billion by 2029.
These factors are changing India's role in global fintech, according to Payoneer, the global financial technology company serving small and medium-sized businesses, e-commerce sellers and digital businesses. The country is no longer seen as a large user market for digital payments. It is becoming a place where financial platforms are built for multiple geographies, currencies, customers, and regulatory environments.
