Disruptor Alert: These 3 Companies Are Changing the Financial Sector
The finance industry is changing rapidly, and the successful disruptors are going to make a lot of money for some investors. Payments, investments, transfers, and loans are all getting cheaper and more efficient. Blockchain and other innovative tech developments are rapidly changing the way people interact financially. These three stocks are helping push the whole world forward into new behaviors and capabilities.
Square (NYSE: SQ) is spearheading change across small business payments, cash transfers, and investing. Square initially hit the market as a hardware and software solution that allowed vendors to accept card payments in a mobile and efficient format. It's grown to be used by businesses of all sizes across a variety of industries, but it has an especially strong presence among bars, restaurants, and retailers. Over the years, its service suite has expanded to add additional value and insight for users.
Square has also successfully entered the consumer finance world with Cash App. Cash App is a direct competitor to PayPal Holdings' (NASDAQ: PYPL) Venmo, as it allows individuals to send and receive cash. Users are also able to spend and invest their account balances. Cash App offers debit cards with a rewards system, which is rare. Investment options include a wide range of stocks, exchange-traded funds, mutual funds, and cryptocurrencies. These services have proven so popular that Cash App grew rapidly to more than 30 million users, and it produces profits for Square. That's rare for a high-growth business segment, but Square is reaping the rewards of this quality service.
Source Fool.com
