Mobile payments in the FinTech era: Disrupting the banking system through blockchain applications

Mobile payments have become increasingly popular as consumers prefer to pay for goods and services using their mobile phones. FinTech companies are disrupting the traditional banking system by providing innovative payment solutions that are faster, cheaper, and more convenient. Blockchain technology is at the forefront of this disruption, with its applications enabling secure and efficient mobile payments. This chapter examines the impact of blockchain on the fintech era and how it is disrupting the banking system. The chapter discusses the advantages of using blockchain for mobile payments, including increased security, transparency, and efficiency. It also explores the challenges and limitations of blockchain technology in mobile payments, such as regulatory hurdles and scalability issues. The chapter concludes that blockchain's applications have the potential to revolutionize mobile payments and disrupt the traditional banking system.