Top Fintech Stocks To Buy Right Now? 4 To Watch During The Crypto Boom

April
22, 2021

6 min read

This story originally appeared on StockMarket

4 Top Fintech Stocks To Watch In The Stock Market Now

For the past year, those who invested in fintech stocks would have made significant gains from the stock market. As some of you may wonder, what are the chances of this trend staying intact? Quite likely, I would say. After all, the digital era we live in now favors services that are quick and safe. This is why fintech is gaining popularity. In fact, some may even say it’s disrupting traditional banking. Fintech services are transforming the banking system from a branch-specific process to various digital channels. The fear of coronavirus spreading due to the usage of banknotes has also encouraged consumers to switch to digital wallets. 

For example, we have Square Inc (NYSE: SQ) which allows its users to transfer money to one another using the Cash App. The fintech giant has been seeing gains as society shifts towards cashless payment methods. This has resulted 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 be accepting Bitcoin as a payment method for its electric vehicles. With these positive developments happening in the fintech space, are you looking at these four top fintech stocks to buy in the stock market today? 

Top Fintech Stocks To Watch Now

• PayPal Holdings Inc (NASDAQ: PYPL)
• Paysafe Ltd (NYSE: PSFE)
• JPMorgan Chase & Co. (NYSE: JPM)
• Adyen N.V. (OTCMKTS: ADYEY)

PayPal Holdings Inc.

First up, we have fintech giant Paypal. The company has benefited throughout the pandemic where digital payments have become the new norm. Given its role in facilitating contactless payments, it should come as no surprise that PayPal stock has been on a tear throughout the pandemic. Accordingly, the company’s stock price is looking at gains of more than 150% over the past year.

On April 20, Paypal announced that its digital wallet app Venmo will be allowing crypto transactions. Venmo will support four different cryptocurrencies including Bitcoin. This development expands on an initial move back in October 2020 by PayPal to let users purchase cryptocurrencies through its main platform. Furthermore, the company also plans to launch a local wallet in China, the world’s largest mobile payments market.

However, instead of competing with the dominant players Alipay and WeChat Pay for domestic payments, PayPal will be focusing on cross-border payments, another huge market to be tapped. billion in 2021. With such exciting developments surrounding the company, do you think PYPL stock is worth the investment?

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Paysafe Ltd.

Paysafe is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly. Particularly, the company specializes in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, the company boasts an annualized transactional volume of $92 billion in 2020. The company has recently made its debut on the New York Stock Exchange on March 31, 2021. This came following the merger between Paysafe and Foley Trasimene Acquisition Corp. II (NYSE: BFT). 

You might have come across Paysafe as a pioneer in digital commerce. That’s right, but there’s another angle that could contribute more value to the company’s business.  It is the company’s involvement in iGaming that has growth investors salivating. Revenues from iGaming have been increasing year-over-year.

Furthermore, the platform is beginning to open up across the United States. Should Paysafe be successful in growing its iGaming market, I wouldn’t be surprised if this is a multi-bagger investment in the making. With the company’s impressive global reach, would you say that now is the right time to be one of the early investors before PSFE stock takes off?

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JPMorgan Chase & Co.

Global investment bank and financial services company JPMorgan needs no introduction as it’s the largest bank in the U.S.. But you may not have expected to see JPM stock on this list of fintech stocks to buy. Well, the company is wary of the importance of fintech. Traditional banking sees fintech as a threat and with good reasons. In early April, JPMorgan CEO and chairman Jamie Dimon said, “Banks … are facing extensive competition from Silicon Valley, both in the form of fintech and Big Tech companies.” Therefore, the company is not resting on its laurels. 

On Tuesday, it was announced that JPMorgan Asset Management has invested in THE TIFIN GROUP. The company is a fintech platform with ten active operating companies for the asset and wealth management industry. The investment will support platform expansion and further the mission of reshaping investment experiences. JPMorgan believes TIFIN’s tech could shape the future of the asset management and wealth management industries.

Last week, JPMorgan reported its Q1 financials that far exceeded analysts’ expectations. The company achieved a net income of $14.3 billion for the quarter, an increase of 399% year-over-year. JPMorgan also reported a revenue of $33.1 billion, a 14% increase year-over-year. With all things considered, would you add JPM stock to your portfolio?

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Adyen N.V.

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 enables merchants to accept payments from all channels. Also, the platform covers the entire payment chain, including technical, contractual, reconciliation, and settlement processes. The company’s share has been performing exceptionally over the past year, seeing gains of over 150%.

In recent news, NDM Hospitality has announced it has selected Adyen to process payments for their brands across Florida. Adyen’s platform gives NDM a holistic view of all data to enhance customer experiences. Earlier in April, Adyen joined forces with “buy now, pay later” (BNPL) firm Afterpay to offer Afterpay’s BNPL service to retailers.

This is not the first time Adyen partnered with a BNPL firm. Back in November, Adyen announced a partnership with Affirm (NASDAQ: AFRM). This allows Adyen’s merchants to easily add Affirm as a payment option. Altogether, these partnerships allow Adyen to benefit from the rise in BNPL as a payment method. With all this in mind, will you consider investing in ADYEY stock?