If the term “fintech,” meaning financial technology, is new to you, don’t despair. Before the financial crash, it was known by few outside the industry, and it really didn’t enter common usage until just a few years ago. The need to switch from strip to chip based credit and debit cards brought fintech out into the open, and there it has stayed, as the reality is that now, many technologies are competing for your monetary transaction business.
After resisting change for as long as they could, old and established fintech companies such as Visa (V), Mastercard (MA), and American Express (AXP) are now working on innovating in order to maintain their presence, but I maintain that the risk is far greater than the opportunity for these companies. On today’s list I’ll be focusing on the more disruptive companies in fintech, though disruptive doesn’t necessarily mean small. Changing the way we buy is part of the strategy of a few big companies.
Remember to treat these ideas as just that, ideas, and do your own research before making any investment decision.