Fintech and Digital Payments in Entrepreneurial Finance: Impact and Future Directions

Financial technology (Fintech) has transformed entrepreneurial finance, offering innovative solutions for funding, payments, and financial management. Digital payments, a key aspect of fintech, enable fast, secure, and low-cost transactions. This review examines the impact of fintech and digital payments on entrepreneurial finance, highlighting trends, challenges, and future directions. The study analyses existing literature on fintech adoption, digital payment systems, and their effects on entrepreneurial finance. Findings from this study reveals that fintech and digital payments have increased access to finance for entrepreneurs, particularly in emerging markets. Digital payment systems, such as mobile money and online payment gateways, have reduced transaction costs and improved financial inclusion. Fintech platforms, like crowdfunding and peer-to-peer lending, have democratized access to capital. However, challenges persist, including regulatory hurdles, cybersecurity risks, and financial literacy gaps. The COVID-19 pandemic has accelerated fintech adoption, highlighting its importance in maintaining financial resilience. Fintech and digital payments have revolutionised entrepreneurial finance, offering opportunities for growth and financial inclusion. As fintech continues to evolve, entrepreneurs, policymakers, and financial institutions must collaborate to address challenges and harness its potential. Future research should focus on fintech’s impact on financial sustainability and exploring new technologies, such as blockchain and artificial intelligence, to enhance entrepreneurial finance.