Open Access Research Article
FINTECH IN THE GAMING ECONOMY: A SOCIO-LEGAL ANALYSIS OF DIGITAL PAYMENTS, CONSUMER VULNERABILITY AND REGULATORY GOVERNANCE IN INDIA
Abstract
Fintech deals with our
day–to–day economic activity, such as payment transactions, investments, etc. The
term “Fintech” was coined in the early 1990s by Mr. Abraham Bettinger of the
Hanover Trust. This is an acronym for Financial & Technology, which was
designed for a scholarly article detailing frameworks on how to analyze and
solve daily banking-related issues encountered at the bank.[1]
However, we can see now that it's not only specific to banking-related aspects,
but deals with the entire market industry, among which this article
specifically discusses the Gaming industry. The proliferation of this industry
leads us to discuss its particular aspects, as to its nature of transaction
models, which have evolved from one-time transaction processes into several
concerns related to financial transparency, money laundering, consumer
protection, etc. In India, there exists a specific regulatory approach; i.e.,
the Promotion and Regulation of Online Gaming Act, 2025, and the corresponding
Promotion and Regulation of Online Gaming Rules, 2026, which marks a major turn
in the national policy governing online games. Under this Act, specifically,
Section 7 deals with financial infrastructure, which prohibits financial
institutions and payment intermediaries from facilitating any financial
transactions in relation to online money gaming services. However, this article
also argues that the regulation of the gaming economy not only prohibit illegal
online gaming but also establishes an integrated financial compliance regime
involving the payment intermediaries, customer due diligence, transaction
monitoring, and technological responsibilities.
Keywords: Fintech (Financial Technology); Online gaming; Digital
payments; Consumer Protection; Financial socio-legal regulation
[1]CFTE, “What is
Financial Technology (Fintech)?”, Centre for Finance, Technology, &
Entrepreneurship, (Dec. 27, 2021) https://blog.cfte.education/financial-technology-fintech/
Published Paper
Author Details
Authors: SHARON PRATITI KISKURegistration ID: 1013623 | Published Paper ID: IJLRA13623Approved ISSN: 2582-6433 | Country: Delhi, India
Article Information
FINTECH IN THE GAMING ECONOMY: A SOCIO-LEGAL ANALYSIS OF DIGITAL PAYMENTS, CONSUMER VULNERABILITY AND REGULATORY GOVERNANCE IN INDIA
Authors: SHARON PRATITI KISKU
- Journal IJLRA
- ISSN 2582-6433
- Volume 3
- Issue 8
About Journal
International Journal for Legal Research and Analysis
- AbbreviationIJLRA
- ISSN2582-6433
- AccessOpen Access
- LicenseCC 4.0
All research articles published in International Journal for Legal Research and Analysis are open access and available to read, download and share, subject to proper citation of the original work.
Disclaimer: The opinions expressed in this publication are those of the authors and do not necessarily reflect the views of International Journal for Legal Research and Analysis.