FinTech or financial technology is the new technology and innovation that is gaining prominence and replacing conventional financial services in various sectors such as payments, E-Commerce, banks, social trading, wealth management, and others. Owing to the fact that E-Commerce is rapidly pervading across the globe, it happens to the key application segment of the FinTech market, estimated to grow with a superlative CAGR of 10% to 12% through to 2025.