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Look Out for these Fintech Stocks in 2021

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Fintech stocks are a broad category of stocks consist of stocks which are part technology and part finance. Fintech stock companies are largely companies which are applying newer technology models to their financial business models and offer a large potential for investment. Some of the services offered by companies under the fintech model are services such as online banking or mobile banking, financial software and services, payment processing, and person to person payments. With the pandemic, the growth and use of fintech companies has increased with the use of e-commerce and digital payments with the fintech group rising to 98th place out of 197 industry groups, according to IBD.

Square Inc (NYSE: SQ)

Since the last few years, Square Inc (SQ)‎ has evolved itself into a large-scale small business and separate financial network which has been processing card payments at an annualized mark of more than $100 billion. Square has been gaining major traction with bigger trading companies along with keeping its initial smaller based business clients and has been blooming as a small commercial loaning platform.

Square has also been expanding its services with its Cash App which allows its more than 300 million active users, which generate more than $2 billion in revenue, to enjoy features such free trading, depositing through mobile phones, and using services such as those integrated with Credit Karma. And it also presents as a better option than Paypal because it has proven itself more open to trying new options as it started on cryptocurrencies in 2018 and have been profiting largely from it. The fintech stock has also bought 4,709 bitcoins at the price of $50 million, proving that it sees crypto currency as the future investment and economy.

Green Dot Corporation (NYSE: GDOT)

One of the oldest fintech companies is Green Dot Corporation (GDOT) ‎which is largely known for being the first to bring the prepaid debit card more than twenty years ago. Even now Green Dot is the biggest pre-paid debit card company in the world by its market capitalization. Some of its clients include Walmart, Google, and Uber. Ever since Green Dot sold off in March, its stock has grown more than 220 per cent.

Green Dot also launched a new mobile bank to deal with the problems of those Americans which are struggling to find proper employment. The company has also been invested in providing economic solutions for the struggling class by using the rich industry. The company’s banking-as-a-service platform is in its early days and has a lot of potential as it is used by companies such as Apple and Uber. Green Dot presents as an innovative solution for companies by letting them use its banking infrastructure to fund their own projects and products.

Paypal Holdings Inc (NASDAQ: PYPL)

Paypal Holdings Inc (PYPL)‎ is a fintech global giant which has more than 300 million customers in more than 200 markets which use its platform all over the world. The company’s stocks hit a high of $244.01 a share recently and its share prices have increased more than twice year to date. It also seems more attractive in the market currently because it has announced that those American which will receive their first stimulus check through PayPal or even Venmo will have the benefit of automatically receiving their payments through Direct Deposit the next time which will allow the customers to receive their checks remotely.

This presents as a huge attraction to investors and PayPal has proven itself as a reliable company to be depended upon during the pandemic. PayPal has repeatedly proven its performance and has even ranked $5.4 billion in total revenue. PayPal has also been invested in the pandemic high and has also been invested in cryptocurrency through Bitcoin. Since March it has gained more than 230 per cent.

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