Abstract: Fintech also called financial technology has been on the block and revolutionizing demand since it was first introduced. Multiple applications make complete use and application of fintech and apply to the real world. Fintech mainly deals with the use of technology to solve most financial problems and gain a much better count on providing the most efficient services to real-time customers.The growing stimulant and popularity of Fintech have been to such an extent that almost the majority of software solutions utilize it. It has outgrown to develop a spur of payment solutions to most of the software technologies, educational institutions, and other public registration offices.

Fintech necessitates having good development and understanding of the most recently adopted, digital methods of payments and enables every individual to have a clear understanding of financial services, online banking, mobile banking, and similar other requirements.

However, certain problems comprehend with the utilization of Fintech. False charging by the operators working on a sector level, lack of awareness of using digitization payments among the public, and lack of knowledge of new systems adopted such as online payments, and cryptocurrency is some of the challenges and roadblocks that are dealt with with the use of Digitization. To address these problems and bring an effective solution that can be utilized by everyone irrespective of their background, we have implemented a real-time model that can be used. The model is centralized and utilized mainly by public registration offices, payment services, and other institutions that have good crowds. With the transition of the financial ecosystem in India, such as the implementation of demonetization in 2016, digitization has made more sense and is being used everywhere. The main objective of the model is to bring together the different methods of digital payments, and cashless integration of payments and understand their use cases effectively to build a stronger and sound financial ecosystem.

Keywords: Fintech, Centralized payment gateway, Payment Digitization/Cashless payments, Payment aggregators, Two-way Reconciliation, Data Visualization

| DOI: 10.17148/IARJSET.2023.10213