Application of Acquisition Contracts for the Economic Development of Financial Institutions and Fintech Banking
DOI:
https://doi.org/10.18272/usfqlwp.147Keywords:
Fintech, Financial system, Financial regulation, Financial inclusion, Financial technologyAbstract
Monopolization of markets is a current topic, which is why there is a push to promote competition to prevent monopolistic practices. The Constitution of Ecuador establishes regulations to prevent monopolistic practices and protect economic rights. Fintech companies are financial technology enterprises that are reshaping the financial sector by providing digital solutions and accessible financial services. Acquiring contracts are agreements between companies and merchants that enable the processing of debit and credit card payments. Fintech companies are competing with traditional banks by offering more agile and personalized financial services. Despite the rise of Fintech, some people perceive them to be less secure compared to traditional banking.
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