At the time of the outbreak of the Covid -19 virus, the movements of the world halted due to the total curfew. Most state institutions and their private sectors were disrupted. At this crucial time "Fintech" was able to bring life back to the systems, without violating the requirements of Social Distancing. It succeeded in providing financial services with latest innovative technologies to anyone anywhere in the world. It also proved beneficial for social groups to work together without moving from their place. This was all possible with a click of a button. As a result of this importance, we find it necessary to delve into the research of this technology. The escalating and increasing prominence gives reason to find out what it is and what are its concepts from a legal point of view. With consideration that it has gained prime position in most countries especially the advanced ones of the world.