April 22, 2021
6 minutes of reading
This story originally appeared on Stock market
Top 4 Fintech stocks to watch on the stock market right now
Over the past year, who invested in fintech stocks will profit significantly from stock market. As some of you may be wondering, what are the chances of this trend remaining intact? Chances are, I would say. After all, the digital era we live in today favors fast and secure services. This is why fintech is gaining in popularity. In fact, some might even say it is disrupting traditional banking. Fintech services are transforming the banking system from a dedicated process for each branch to different digital channels. Fears of the coronavirus spread by the use of banknotes have also encouraged consumers to switch to digital wallets.
For example, we have Square Inc (NYSE: SQ) allows users to transfer money to each other using Cash App. The fintech giant has seen profitability as society shifts to non-cash payment methods. This results in investors constantly looking for the next hot fintech stocks to buy. On another note, electric vehicle giant Tesla Inc (NASDAQ: TSLA) announced in March that it will accept Bitcoin as payment method for its electric vehicles. With the positive developments going on in the fintech space, you are looking at four Top fintech stocks to buy inside stock market today?
Top Fintech stocks to watch now
PayPal Holdings Inc.
First, we have the financial technology giant Paypal. The company benefited throughout the pandemic as digital payments became the new standard. Given its role in facilitating contactless payments, it’s no surprise that PayPal’s stock continues to be pandemic. Accordingly, the company’s share price is increasing by more than 150% in the past year.
On April 20, Paypal announced that their digital wallet application Venmo will allow cryptocurrency transactions. Venmo will support four different cryptocurrencies including Bitcoin. This development expands upon an initial move back in October 2020 by PayPal to allow users to purchase cryptocurrencies through its main platform. Furthermore, the company also plans to launch a domestic wallet in China, the world’s largest mobile payment market.
However, instead of competing with rivals that dominate Alipay and WeChat Pay in terms of domestic payments, PayPal will focus on cross-border payments, another giant market that needs to be tapped. billion by 2021. With such exciting developments around the company, in your opinion, is PYPL worth investing in?
Paysafe is a leading specialized payment platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly. In particular, the company specializes in payment processing, digital wallets and online cash solutions. With more than 20 years of online payments experience, the company boasts an annual trading volume of $ 92 billion by 2020. The company recently debuted on the New York Stock Exchange on Thursday. March 31, 2021. This happened after the merger between Paysafe and Foley Trasimene Acquisition Corp. II (NYSE: BFT).
You may have come across Paysafe as a company that pioneered digital commerce. Yes, but there is another angle that could contribute more value to a company’s business. It is the company’s participation in iGaming that has made investors cry. Revenue from iGaming has increased year by year.
Furthermore, this platform is starting to open up across the United States. If Paysafe is successful in growing its iGaming market, I wouldn’t be surprised if this was a multi-bagger investment. Given the company’s impressive global reach, did you say that now is the right time to be one of the early investors before the PSFE stock takes off?
JPMorgan Chase & Co.
Global investment banks and financial services firm JPMorgan need no introduction as it is the largest bank in the US. But you might not expect to see JPM on this list of fintech stocks to buy. Yes, the company is wary of the importance of fintech. Traditional banks see fintech as a threat and with good reason. In early April, JPMorgan CEO and President Jamie Dimon said, “Banks… are facing great competition from Silicon Valley, both in the form of fintech companies and Big Tech.So the company is not resting on its laurels.
On Tuesday, it was announced that JPMorgan Asset Management had invested in THE TIFIN GROUP. The company is a fintech platform with ten companies active in the asset and asset management industry. The investment will aid in expanding the platform and beyond is a mission to reshape the investment experience. JPMorgan believes TIFIN’s technology can shape the future of asset management and asset management.
Last week, JPMorgan reported its Q1 financial far exceeding analysts’ expectations. The company posted net income of $ 14.3 billion for the quarter, up 399 percent from the same period last year. JPMorgan also reported revenue of $ 33.1 billion, up 14% from the same period last year. With all that considered, would you add JPM stock to your portfolio?
Last but not least, we have Dutch payments company Adyen. The company is a provider of mobile, online and point-of-sale (POS) payment solutions. In essence, it allows merchants to accept payments from all channels. In addition, the platform covers the entire payment chain, including engineering, contractual, reconciliation, and settlement processes. The company’s stock has been exceptional over the past year, up more than 150%.
In the recent news, NDM Hospitality announced that they have chosen Adyen to handle payments for their brands across Florida. Adyen’s platform gives NDM a holistic view of all the data to enhance the customer experience. In early April, Adyen partnered with Afterpay “buy now, pay later” (BNPL) to provide Afterpay BNPL services to retailers.
This is not the first time Adyen has partnered with a BNPL company. Back in November, Adyen announced to cooperate with Affirm (NASDAQ: AFRM). This allows Adyen merchants to easily add Confirmation as a payment option. Overall, these partnerships allow Adyen to benefit from the rise of BNPL as a payment method. With all of this in mind, would you consider investing in ADYEY stock?