Do You Have These Fintech Stocks On Your Watchlist?
Fintech stocks have gained popularity in the stock market over the past few years as adoption increases. For obvious reasons, the global pandemic played a significant role in the industry’s growth. Contactless payment options were deemed a necessity and consumers are noticing the convenience that comes along with it. However, with expectations of post-pandemic slowdown and rising interest rates, this segment of the market has been under tremendous pressure in recent months. In fact, many fintech stocks are returning to their pre-pandemic levels. As such, prospective investors are likely looking at the industry’s long-term potential for growth. With that said, some of the top names in the industry today may start to look attractive at their current valuations.
Many may be focusing on the likes of Visa (NYSE: V) and Fiserv (NASDAQ: FISV) which are reporting their financials later this week. A strong financial showing from these top fintech companies will likely set the tone for the industry. Fiserv also recently announced a partnership with Equifax (NYSE: EFX) to deliver data-driven insights that organizations need to succeed in a digital economy. As a result, companies will get a more holistic picture of businesses and allow them to embrace the power of real-time data insights. If you believe that fintech will continue to define the industry landscape, here are some of the top fintech stocks to check out in the stock market today.
Fintech Stocks To Watch This Week
- Block Inc (NYSE: SQ)
- Mastercard Inc (NYSE: MA)
- PayPal Holdings Inc (NASDAQ: PYPL)
- Affirm Holdings Inc (NASDAQ: AFRM)
Block
Block, formerly known as Square, is a tech company that specializes in financial services. The company provides tools to help the community to access the economy. It does so by helping sellers run and grow their businesses with its integrated ecosystem for commerce, business software, and banking services. Besides that, its Cash App allows anyone to send, spend, or invest their money in stocks or Bitcoin.
Last month, the company announced a partnership with CodeBase. The collaboration with one of the U.K.’s largest tech start-ups aims to provide entrepreneurs with access to Square’s payment ecosystem and Application Programming Interfaces. Therefore, the company will support CodeBase by offering a series of workshops that enable entrepreneurs to learn from leaders in the commerce and payments industry. Not to mention, the start-ups will have full access to Square’s platform team for any questions and support throughout the process. All things considered, would you bank on the future of SQ stock?
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Mastercard
Another goliath in the fintech industry today is Mastercard. Known for its Mastercard brand debit, credit, and prepaid cards, the company is no stranger to most. As of April, the company has been actively collaborating with others to expand its growth. For starters, it formed a new partnership with Interos, a hyper-growth operational resilience company. The partnership aims to expand its security strategy and bring Interos’ multi-tier risk monitoring capabilities to financial institutions. Therefore, the new offering can allow organizations to proactively detect and eliminate risk throughout their network of business.
A more recent partnership was sealed with Nelo last week. For those unaware, Nelo is a Buy Now Pay Later (BNPL) product in Mexico. With this new partnership, Nelo announced the launch of its all-in-one app. So, customers of Nelo can now use Nelo at any online merchant within the Mastercard network. This makes Nelo the first company in Latin America to offer a mobile app that provides such functionality. All in all, these are all encouraging developments for Mastercard as it continues to grow on the right trajectory. With that in mind, could MA stock be a top fintech stock to watch right now?
PayPal
In many ways, PayPal is similar to our previous entries as its product and services are used by people around the world. Essentially, this is a fintech that enables digital payments and commerce experiences on behalf of merchants and consumers across the globe. Some of its notable brands include PayPal, Venmo, Braintree, Honey, Xoom, and Happy Returns by PayPal. Investors should note that the company will be announcing its earnings later this week. As such, it should not be surprising that there will be more attention on the company stock right now.
Despite PYPL stock’s performance over the past year, many would argue that it still boasts a strong recovery potential long-term. After all, PayPal still consistently innovates to provide the best for its customers. We saw the company announcing the introduction of its PayPal Cashback credit card earlier this month. The card is issued by Synchrony and gives customers, even more, cashback when they shop with PayPal. What’s more, customers can earn unlimited 3% cashback regardless of the categories they spend on that month. Considering these exciting new products, would you be adding PYPL stock to your watchlist?
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Affirm
Finally, we will be looking at the fintech giant, Affirm. In detail, the company operates a platform for digital and mobile-first commerce in North America. Its platform includes point-of-sale payment solutions for consumers, merchant commerce solutions, and a consumer-focused app. Thus, consumers can pay for a purchase over time via its payment network and partnerships with banks. Much like most fintechs in the stock market today, the year 2022 has been a struggle for AFRM stock. That said, investors eyeing the stock could be looking to buy the stock on dips.
In fact, Affirm recently announced an expansion of its partnership with Poshmark (NASDAQ: POSH). The two-year extension aims to deliver increased payment flexibility to shoppers. Hence, eligible shoppers from Poshmark’s community can now choose between monthly payments or four interest-free payments every other week for all items that cost over $50. On a sense of scale, Affirm will have access to more than 80 million users from Poshmark’s community. This is important for the growth of any company as it gains access to more consumers. So, should you keep a closer watch on AFRM stock?
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