E-finance, or electronic finance, is precisely an innovation that reshapes individuals’ knowledge about the financial set-up and enables developing countries to leapfrog. It provides financial services through electronic network or electronic media and could be a subset of e-commerce where goods and services are sold on the web. E-finance, also called digital finance or cyber finance, is described as “the most promising area of e-commerce” and as “an actuation that's changing the landscape of the finance industry”. With the generalization of use of the net round the World, numerous opportunities associated with financial services and electronic payments appeared. Additionally, e-finance may be a tool to spice up the entrepreneurial framework of a nation. This innovation may be a cheaper solution to integrate economic agents into the financial sector. It enables to cut back transaction costs, encourages funding initiatives through easier availability of loans and forges a better relationship between customers and also the financing institutions. With the event of E-Finance, the delivery of economic services becomes quicker, easier and with less collateral required. This last advantage is vital in developing countries. Last but not least, this innovation can help boost entrepreneurship and contribute to the GDP by widening the financial market and making it a safer place.

Keywords: E-Finance, Economic, Productivity, Technological Innovation, Entrepreneurship.