Technological transformation of transactions with the rise of FINTECH

In recent years, the entire financial landscape has experienced a significant transformation due to the rise of financial technology simply called Fintech, which has redefined the transaction processes and democratized the access to financial services. This review focuses on how fintech is transforming transactions by enhancing efficiency, increasing security, providing transparency, and creating accessibility for consumers and businesses alike. Key technologies such as blockchain, artificial intelligence, smart contracts, digital wallets, and mobile applications are transforming transactions, reducing costs, and improving user experiences. The integration of fintech solutions with the above mentioned key technologies is creating a more secure and interconnected ecosystem, reshaping and transforming the transactions. This article examines the impact of fintech on customer experiences through digital platforms and real-time transactions, as well as its potential to drive innovation and promote sustainability in payment services. It explores benefits, challenges. It also discusses regulatory considerations, collaboration opportunities between traditional banks and fintech startups, and emerging banking models. Overall, the review highlights fintech's transformative potential in revolutionizing energy payments and shaping the future of transactions.