USA, India and Brazil Are Searching for FinTech the Most

A new study has revealed that the USA, India and Brazil are countries where FinTech is on people’s minds the most according to Google search data.

The research study, conducted by Tipalti, analysed factors such as global fintech adoption rates, Google searches for fintech by country and the regions that have the highest virtual capital funding to uncover the biggest Fintech adoption hotspots.

Rank	Country	Google Searches August 2022 - July 2023
1	United States	834,000
2	India	463,800
3	Brazil	237,600
4	UK	227,000
5	Mexico	162,500
6	Germany	109,800
7	France	105,000
8	Canada	101,400
9	Colombia	95,700
10	Italy	86,600

The USA tops the ranking as the country searching for Fintech the most, with over 800,000 searches. This comes as no surprise when you consider that the USA is a global leader in fintech investment, attracting significant venture capital and private equity funding. The USA's fintech industry is worth over $1.5 trillion, with continuous growth year over year.

Following up in second place is India, where searches total close to 465,000. India's fintech industry is estimated to be worth over $100 billion and is one of the fastest-growing sectors in the country. The sector has witnessed exponential growth, driven by increasing smartphone penetration and digital adoption. Digital payment platforms like UPI (Unified Payments Interface) and mobile wallets have gained immense popularity, with millions of transactions daily.

Rounding out the top three is Brazil where searches accumulated nearly 240,000 searches. Brazil's fintech industry is estimated to be worth over $30 billion and is experiencing robust growth. Fintech is an emerging sector in Brazil, with increasing popularity among consumers and investors. Brazilian fintech startups have attracted significant investment, both from domestic and international investors, which could explain its position of third place. 

Further research shows: 

• China emerges as the country with the highest fintech adoption rates. As of 2019, 87% of China’s digitally active population has adopted the use of fintech. Tied with India, these two countries have been leading the fintech market for years.
• Having one of the largest fintech economies in the world, the US has just a 46% fintech adoption rate, the lowest of the six markets.
• Japan had the lowest adoption rate of fintech amongst the country’s digitally active population, at just 34% as of 2019. This sees Japan lagging behind other countries in Asia, such as China and Singapore.

View full report – Here 

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