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Definition

A fintech company is one which has developed a financial product which is offered through the internet. The banks are heavily into fintech these days offering insurance products and various forms of credit. Fintech start-ups aim to be bought out by one of the big banks. A good example of a South African fintech company is Payflex which offers a "buy now, pay later" (BNPL) platform where customers can buy a product and pay for it interest free in 4 equal monthly installments.

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