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Trend

Fintech & Digital Payments

Global payments are worth $150 trillion per year and are rapidly shifting from cash and cheques to digital. The companies that process these payments collect a tiny slice of every transaction — and that adds up to extraordinary profits at scale.

34
companies
21
pure play
13
major beneficiary
Pure Play
Core business is this trend
VV
V
Visa
Pure Play

Operates the world's largest payment network. Does not lend money — just processes transactions and collects a fee on every card swipe globally. 4 billion cards. 100+ million merchants. Pure toll-road business model.

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MAMA
MA
Mastercard
Pure Play

The second-largest payment network, nearly identical to Visa. Together they process the majority of card transactions globally. Expanding aggressively into real-time payments, open banking, and business-to-business payment flows.

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PYPLPYPL
PYPL
PayPal
Pure Play

Pioneered online payments and still processes a huge share of e-commerce globally. Owns Venmo (peer-to-peer payments) and Braintree (merchant processing). Under pressure from Apple Pay and competition but still handles billions of transactions.

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SQSQ
SQ
Block
Pure Play

Started as Square, selling card readers to small businesses. Now owns Cash App (45M+ users), Afterpay (buy now pay later), and Spiral (Bitcoin). Tries to build the financial infrastructure for people the traditional banking system underserves.

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COINCOIN
COIN
Coinbase
Pure Play

Scores 10/10 for Crypto Exchange. Also relevant to Digital Assets and Bitcoin.

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HOODHOOD
HOOD
Robinhood
Pure Play

Scores 10/10 for Retail Trading.

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SOFISOFI
SOFI
SoFi Technologies
Pure Play

Scores 10/10 for Digital Banking. Also relevant to Fintech.

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MSTRMSTR
MSTR
MicroStrategy
Pure Play

Scores 10/10 for Bitcoin. Also relevant to Crypto and Digital Assets.

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MARAMARA
MARA
MARA Holdings
Pure Play

Scores 10/10 for Bitcoin. Also relevant to Crypto Mining.

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IRENIREN
IREN
Iris Energy
Pure Play

Scores 10/10 for Crypto Mining. Also relevant to Bitcoin.

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WULFWULF
WULF
TeraWulf
Pure Play

Scores 10/10 for Crypto Mining. Also relevant to Bitcoin.

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BACBAC
BAC
Bank of America
Pure Play

Scores 9/10 for Digital Banking. Also relevant to Fintech Disruption and AI in Finance.

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GSGS
GS
Goldman Sachs
Pure Play

Scores 9/10 for AI in Finance. Also relevant to Digital Banking.

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CC
C
Citigroup
Pure Play

Scores 9/10 for Global Payments. Also relevant to Digital Banking.

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AXPAXP
AXP
American Express
Pure Play

Scores 9/10 for Digital Payments.

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SCHWSCHW
SCHW
Charles Schwab
Pure Play

Scores 9/10 for Retail Investing. Also relevant to Zero-Commission Trading and Fintech Disruption.

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PDDPDD
PDD
PDD Holdings
Pure Play

Scores 9/10 for Cross-Border Commerce.

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IBKRIBKR
IBKR
Interactive Brokers
Pure Play

Scores 9/10 for Retail Investing. Also relevant to Online Brokerage and Options Trading.

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FISFIS
FIS
Fidelity National Information Services
Pure Play

Scores 9/10 for Financial Technology. Also relevant to Payments.

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FIFI
FI
Fiserv
Pure Play

Scores 9/10 for Payments. Also relevant to Financial Technology.

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CBOECBOE
CBOE
Cboe Global Markets
Pure Play

Scores 9/10 for Options Trading.

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