Rosov discussed how regulators have been welcoming financial technology, but a problem arises when they do not know what to do with it. When will financial technology move into the consumer space? Earlier this month, financial technology stalwart PayPal acquired Canadian-based TIO Networks, a cloud-based payment processing for $233 million. CEO Dan Schulman highlighted that this union supported PayPal’s mission to advance global financial inclusion. Financial inclusion is a big problem on a global scale, even in developed countries like the UK.

Source: Forbes February 23, 2017 21:33 UTC