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CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC

Meera, a CS student, traces the evolution of finance and technology. She places the following in time order: (i) smartphone-led mobile wallets and UPI-type instant payments, (ii) laying of the first transatlantic telegraph cable and early electronic fund transfer, (iii) ATMs and electronic trading systems. Which sequence from earliest to latest is correct?

The correct order is telegraph cable and early electronic transfers first, then ATMs and electronic trading, and finally smartphone-led mobile wallets and instant payments. FinTech evolved from infrastructure to electronic banking to mobile-centric digital finance.

  1. A(i), (iii), (ii)
  2. B(iii), (ii), (i)
  3. C(ii), (iii), (i)Correct
  4. D(ii), (i), (iii)

Explanation

The commonly cited evolution runs from infrastructure-building (telegraph and cable, around the 1860s) to analogue-to-electronic banking such as ATMs and electronic trading in the later twentieth century, and then to digital, mobile-led FinTech in the smartphone era. So the order is (ii), (iii), (i). Placing mobile payments before ATMs reverses the real chronology.

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