Integrating Fintech within Social Media Platforms to empower Entrepreneurship

Abstract

We are living in an era full of instant technological advancements in diverse aspects, for instance, economics, culture, education, entertainment, business, media, etc. Financial technology is one of the fast-emerging aspects in social media nowadays, where its impact on businesses, and especially small business in social and financial inclusion, and seamless payments’ acceptance is undeniable. Usually, most businesses face financial obstacles as well as challenges in their payment cycle, whether in acceptance or disbursement, fintech however, acted as the perfect solution for all businesses especially entrepreneurs. The modernization of the digital tools found on the social media platforms enabled entrepreneurs to access all their financials, operations, and make informed decisions easily through the effective use of the online space. Thus, it acted as an efficient and customized alternative to the offline financial and banking services. In other words, Fintech, shorts for Financial Technology, steered new possibilities and opportunities to not only enable, but also empower entrepreneurs and small businesses to contribute to the digital economy and cashless society, especially in Egypt.

This study will examine the role of fintech integrated in social media platforms on enabling and empowering entrepreneurs’ businesses, especially small businesses, and freelancers.

Semi-structured interviews will be conducted to several emerging businesses to examine the impact of financial technologies on their business models regarding the easiness of digital money transfer and acceptance, thus endorsing a cashless society.