How COVID-19 affected and influenced the finance world

According to all our dear diaries 2020 was supposed to be the year , the year of savings , the year you will find love.
According to all our dear diaries 2020 was supposed to be the year , the year of savings , the year you will find love , the year you’ll finally change jobs, the year you will do that MBA but 2020 had other plans. 2020 came in like rain on your wedding day , and taught us some tough lessons , mostly financial. Most of us have saved for years for those dreams we secretly hold onto as adults , a dream vacation , a degree that needs to be done , college funds and so on ,unfortunately this year we spent those savings on COVID-19. COVID-19 has drastically affected the financial world for what seems to be permanently. With retail , leisure travel , restaurants , hotels and other industries facing bankruptcy and asking banks for financial assistance the world needed to adjust overnight. This reality has left many jobless or with less than half their incomes , creating a major need for innovation and new ways of working. Most employees were sent home to work remotely creating a need for a safer and cashless payment solution , whilst others dusted off their entrepreneurial sides and took the internet to sell their goods further embedding a need for a cashless society.

Most traditional banks were not equipped for this overnight change and took part in what seemed to be a domino effect of businesses closing down. Thankfully the fintech world has been creating a cashless society for years and this was the time for all the companies to step up and release their digital payment solutions.

AltroPay has launched a virtual bank that allows for safe and hassle-free online payments. We have eliminated the use of paper, queues and traditional banking nuisances to assure that the consumer and professional can easily conduct their personal and business accounts in one place online.

We offer an array of services that allow you to run a business, your daily personal payments and future saving goals and a card that links to any of these accounts. This virtual bank was created with you in mind, you can tailor every account to suit your needs, even creating alerts of when to save and when to pay your employee.

The influence to change to a cashless solution is only going to grow and we are proud to lead the market with a reliable payment solution for every person that needs it, worldwide.

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