Do You Have These The Fintech Stocks On Your July Watchlist?
Fintech stocks have been some of the most popular stocks in the stock market today. Fintech is growing and the growth is accelerating as we speak. In many countries, it is almost mandatory to have cashless payment options these days. This is especially true after we were plagued by the global pandemic over the past year. Due to the mode of transmission of COVID-19, consumers would prefer to not use traditional banknotes whenever possible.
Furthermore, we have seen the rise of cryptocurrencies this year. In fact, some companies are even accepting cryptocurrencies as a mode of digital payment these days. Believe it or not, even tech giants such as Microsoft (NASDAQ: MSFT) have adopted bitcoin as a viable digital payment option since 2014. Fintech companies such as Square (NYSE: SQ) that accept a variety of digital payment options have also been thriving over the past few years. With all these in mind, here’s a list of four of the top fintech stocks in the stock market that may interest you.
Top Fintech Stocks To Watch In July
- PayPal Holdings Inc (NASDAQ: PYPL)
- Visa Inc (NYSE: V)
- Upstart Holdings Inc (NASDAQ: UPST)
- Cuentas Inc (NASDAQ: CUEN)
PayPal Holdings Inc
First up, we have the technology platform and digital payments company, PayPal. The company operates an online payments system in the majority of countries that support online money transfers on behalf of consumers and merchants. Some of its payment solutions would include PayPal, PayPal Credit, Venmo, Xoom, and Braintree. PYPL stock has risen over 60% over the past year.
On Wednesday, the company announced the launch of PayPal Zettle in the U.S. This is a digital point-of-sale solution that would allow small businesses to sell across in-person and online channels. Hence, small businesses will get an integrated solution that enables them to accept a range of payments in-person with the Zettle card reader. Furthermore, it would allow businesses to leverage PayPal’s suite of payment and commerce solutions which ranges from invoicing to Paypal’s Business Debit Mastercard.
This solution goes to show that PayPal recognizes the shift in consumer behaviors towards digital and omnichannel commerce. After all, consumers want seamless and integrated digital experiences no matter where they shop. It is also noteworthy that the company will be committing more than $100 million to advance financial inclusion and economic empowerment for women around the world. All in all, would you say that PYPL stock is one to watch for the future?Source: TD Ameritrade TOS
Next, we have the multinational financial services company headquartered in California, Visa. Essentially, it facilitates electronic funds transfers throughout the world through its Visa-branded credit cards, debit cards, and prepaid cards. What some may not know is, Visa does not issue cards. Instead it provides financial institutions with Visa-branded payment products to their customers. Since the start of the year, V stock has been trading sideways. That said, it has still risen by more than 20% over the past year.
Last week, Visa announced that it has signed a definitive agreement to acquire Tink. Tink is a European open banking platform that allows financial institutions, fintech, and merchants to build tailored products and services for its customers and businesses based on their financial data. As of now, Tink is integrated with more than 3,400 banks and financial institutions, reaching millions of bank customers across Europe. With this, Visa hopes to deliver increased value to its European customers with tools to improve their financial lives.
Also in June, the company finally announced its first Tap to Phone pilot in the U.S. after piloting the solution in more than thirty countries. This technology turns seller’s Android phones into point-of-sale acceptance devices, providing an on-ramp to the digital economy just by downloading an app. The way we make transactions is shifting and the pandemic has accelerated the change even more. Given all these exciting developments surrounding the company, would you consider adding V stock to your watchlist?
Upstart Holdings Inc
Upstart is a cloud-based artificial intelligence (AI) lending platform. The company partners with banks to provide personal loans using non-traditional variables, such as education and employment to predict creditworthiness. The AI models use and analyze data from all of its bank partners. Thus, consumers can discover Upstart-powered loans either via Upstart.com or through a white-labeled product on its bank partners’ websites.
Last week, the company partnered with NXTsoft to enable Upstart to bring its all-digital AI lending platform more efficiently to any U.S.-based financial institution. This means that financial institutions will now be able to integrate Upstart’s AI platform into their existing services more quickly. So, banks and credit union partners will be able to lend to more creditworthy borrowers through a modern, all-digital experience.
In May, Upstart announced that Customers Bank, a full-service community bank and subsidiary of Customers Bancorp (NYSE: CUBI) had expanded its bank partnership with Upstart. The extended partnership would include scaling its personal loan program through the Upstart Referral Network and Customers Bank’s own consumer banking website. Customers Bank’s partnership with Upstart helped it grow its loan portfolio over the past few years, and that trend is likely to continue. All things considered, would you invest in UPST stock?
Last on the list, we have the trending up-and-coming fintech company, Cuentas. In essence, the company provides mobile and online banking, prepaid debit, and digital content services to the unbanked. Yesterday, CUEN stock soared by over 120%. Let us look at the catalyst for this movement.
On Wednesday, TelcoDR selected Wavemax Corporation, the pioneer of the world’s first shared Wifi network, as part of their most innovative mobile technologies showcase. WaveMax’s SharedFi patented technology allows for a shared network of WiFi access points and small cells. Therefore, the user will have access to this shared network and be impacted with location-based advertising if opted in. From this, access points and small cell owners receive a share of the ad, subscription, or roaming revenue.
So where does Cuentas come into the picture? Cuentas signed a contract to rollout SharedFi in 170 test locations in the New York City-Tristate area. Assuming the 6-month test is successful, both parties will plan to install 1,000 additional “Bodega Stores” in a 50/50 joint venture. Customers in the Bodega store will be automatically connected to the WiFi6 high-speed internet and receive in-store offers. Overall, the enhanced user experience and discounts would contribute to greater net-new revenues. So, would you jump on the CUEN stock bandwagon?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.