Visa, Mastercard, and PayPal Are a Buy as Consumers Continue to Spend Away
Consumer spending is alive and well, inflation and economic recession worries or not. The January 2023 U.S. Census Bureau's consumer spending report showed retail sales were up 4.4% year over year, led by restaurants, sporting goods and hobby stores, and clothing.
Overseas travel is also still making a comeback, and early signs show that cross-border travel spending volume may have finally recovered back to 2019 levels in the first few weeks of 2023.
All of this bodes well for digital payment leaders Visa (NYSE: V), Mastercard (NYSE: MA), and PayPal Holdings (NASDAQ: PYPL). Digital payments already proliferate throughout the global economy, so all-out revenue growth isn't what it was. However, there's still plenty to like from these three top fintech stocks.
Source Fool.com
