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Summary
- Fintech companies offer payment processing, online and mobile banking, and a range of other financial services.
- Square Inc., a financial services and digital payment company, has a market capitalization of US$112 billion.
- Green Dot Corporation, which launched a debit card 20 years ago, reported a net income (GAAP) of US$25.7 million in Q1, 2021.
Fintech or financial technology companies use new technology to improve and automate financial services like online payments. Their popularity has been growing among individual customers and businesses as they help them manage financial activities through mobile phones, computers, and tablets.
Cryptocurrency services also considered a domain of the Fintech companies. On the other hand, banks and governments use the traditional method of banking for financial services. Moreover, the pandemic has boosted the use of fintech services.
Fintech companies offer payment processing, online and peer-to-peer lending, online and mobile banking, financial services, and financial software services.
Source: Pixabay
Also read: Which are the major financial stocks in the US?
Square Inc (NYSE:SQ)
Square Inc is financial services and digital payment company based in San Francisco. Its product CashApp allows consumers to send and receive payment free through the mobile application. It's another application Square Point-of-Sale allows merchants to pay through smartphones. CashApp also allows consumers to use Bitcoins.
Its stock traded at US$246.285 at 1.15 pm ET on June 28, up by 2.66% over the previous closing price. Its stock prices increased by 11.45% YTD. Its market capitalization is US$112 billion. Its P/E ratio is 348.69, and its forward P/E 1 Year ratio is 510.51. Its highest stock price in the last 52 weeks is US$283.19, and its lowest was US$101.22.
Also read: Fintech Company Marqeta To Debut on NASDAQ
Green Dot Corporation (NYSE:GDOT)
Green Dot is considered a pioneer in the Fintech market as it launched debit cards two decades ago. It helps companies offer banking services without becoming banks like Apple Pay Cash. Instead, it allows these companies to use their banking infrastructure to offer banking services.
Its stock traded at US$47.02 at 1.39 pm on June 28, down by 2.53% over the previous closing price. Its stock prices decreased by 15.26% YTD. Its market capitalization is US$2.5 billion. Its P/E ratio is 4710, and its forward P/E 1 Year ratio is 39.22. Its highest stock price in the last 52 weeks is US$64.97, and its lowest was US$38.95.
It reported a net income (GAAP) of US$25.7 million in Q1, 2021, which ended on March 31. It was US$46.8 million in Q1, 2020. Its revenue was US$393.5 million in Q1, 2021, and that was US$362.2 million in Q1, 2020. Diluted earnings per share were US$0.46 in Q1, 2021, and that was US$0.87 in Q1, 2020.
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MercadoLibre, Inc (Nasdaqa: MELI)
MercadoLibre, Inc, an e-commerce company, also runs the Mercado Pago payments platform. The platform processes transactions of millions of dollars per year, and it's growing.
Its stock traded at US$1563.12 at 1.49 pm on June 28, up by 1.30% over the previous closing price. Its stock prices decreased by 4.77% YTD. Its market capitalization is US$77.8 billion. Its forward P/E 1 Year ratio is 5929.69. Its highest stock price in the last 52 weeks is US$2020, and the lowest was US$941.44.
It reported net revenue of US$1.4 billion in Q1, 2021, which ended on March 31.
Total payment volume processed through Mercado Pago was US$14.7 billion in Q1, 2021, and that is 81.8% growth YoY.
Source: Pixabay.
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Visa Inc. (V)
Visa Inc is a global payment technology company that offers electronic fund transfer through Visa-branded credit cards, debit cards, and prepaid cards.
Its stock traded at US$233.26 at 2.12 pm on June 28, down by 1.74% over the previous closing price. Its stock prices increased by 7.09% YTD. Its market capitalization is US$496 billion. Its P/E ratio is 48.09, and its forward P/E 1 Year ratio is 42.45. Its highest stock price in the last 52 weeks is US$238.48, and its lowest was US$179.23.
It reported a net income of US$3026 million in Q1, 2021, which ended on March 31. It was US$3084 million in Q1,2020.
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Western Union Company (NYSE:WU)
Western Union Company is a US-based global financial services and communication company. It offers people to send money online to their friends, relatives across the world. It is present in 200 countries.
Its stock traded at US$23.02 at 2.30 pm on June 28, down by 2.30% over the previous closing price. Its stock prices increased by 5.87% YTD. Its market capitalization is US$9.3 billion. Its P/E ratio is 12.68, and its forward P/E 1 Year ratio is 11.42. Its highest stock price in the last 52 weeks is US$26.61, and its lowest was US$19.07.
It reported total revenue of US$1.2 billion or US$0.44 per share in Q1, 2021, which ended on March 31. Revenue grew by 2% YoY.
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American Express Company (NYSE:AXP)
American Express Company is a US-based multinational credit card company. It earns money through transactions done through its cards and annual fees by merchant members.
Its stock traded at US$164.785 at 2.46 pm on June 28, down by 2.71% over the previous closing price. Its stock prices increased by 39.59% YTD. Its market capitalization is US$132.6 billion. Its P/E ratio is 27.11, and its forward P/E 1 Year ratio is 22.50. Its highest stock price in the last 52 weeks is US$170.41, and its lowest was US$89.11.
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It reported a net income of US$2.2 billion, or $2.74 per share in Q1, 2021, ended on March 31. It was US$367 million, or $0.41 per share YoY. Total revenue was US$9 billion in Q1, 2021, and that was US$10.3 billion YoY.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
