Jul 26, 2021 (StockMarket.com via COMTEX) -- 4 Top Fintech Stocks To Watch This Week
Fintech stocks are among the best-performing stocks in the stock market over the past year. Many of the major players in the industry have been trending upwards since the market crashed back in March last year. After all, we are seeing a big shift towards a cashless society. Moreover, fears of coronavirus transmission through banknotes have also accelerated this transition. Whether it is the wave of a card or a tap on a smartphone app, fintech makes things easy. Simply put, as consumers continue to experience the pure convenience brought by the fintech industry, general adoption trends will likely persist.
When you think about it, fintech has existed in one form or another for a while. For instance, Green Dot ( NYSE: GDOT ) is a fintech company known for its prepaid debit card. Meanwhile, tech giant Apple Inc ( NASDAQ: AAPL ) has also been showing interest in the industry by introducing Apple Pay. Imagine this, you could now make a payment using your Apple Watch. All you need to do is set up Apple Pay in the Apple Watch app on your iPhone. Then, you could now make purchases even when you don't have your iPhone with you. Safe to say, fintech is here to stay and this could just be the beginning. Overall, with the economy showing signs of recovery, investors could be eyeing the top fintech stocks in the stock market today. If you are one of them, here are 4 names to look out for before August 2021.
Best Fintech Stocks To Buy [Or Sell] This Week
Paypal Holdings Inc ( NASDAQ: PYPL )
Visa Inc ( NYSE: V )
Square Inc ( NYSE: SQ )
Mastercard Inc ( NYSE: MA )
Paypal Holdings Inc
Let us start the list with the fintech giant, Paypal. Put simply, it is a technology platform and digital payments company that allows digital payments on behalf of consumers and merchants. Its combined payment solutions include PayPal, Venmo, Xoom, and Braintree. So, as a customer, you could use your account to purchase goods and transfer funds. PYPL stock has risen over 70% over the past year.
With the company reporting its second-quarter earnings on Wednesday, let us review its first-quarter performance to gauge what to expect. Impressively, its revenue grew by 31% to $6.03 billion year-over-year. Furthermore, its net profit rose to $1.10 billion from a mere $84 million the prior year. There were also an additional 14.5 million new active accounts from its first quarter. From this, we can see the digital payment transition is well underway. So, would there be reasons to believe its second quarter would disappoint?
Not to mention, PayPal also launched the PayPal Zettle in the U.S. a month ago. Hence, small businesses will get an integrated solution that allows them to accept a range of payments in-person with the Zettle card reader. So, it would help them to start selling online and help them manage sales, inventory, reporting, and payments across channels, all in one place. The timing for the launch comes at a perfect time as we see a historic shift in consumer behavior towards digital commerce. Businesses need to adapt to meet their customer's needs wherever they are. Now, would you add PYPL to your August watchlist?
Next, we have one of the leaders in payment technology, Visa. Essentially, it is a company that connects consumers, merchants, financial institutions, businesses, and government entities to electronic payments. Visa provides digital payment options across more than 200 countries and territories. So, chances are, you may already have a Visa-branded credit or debit card in possession. V stock has been on a slow and steady climb, rising over 14% since the start of the year.
Last Thursday, Visa announced it has signed a definitive agreement to acquire Currencycloud. It is a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments. As of now, the Currencycloud platform supports nearly 500 banking and technology clients in over 180 countries. Thus, it will strengthen Visa's existing foreign exchange capabilities and improve payment transparency for clients.