Today’s Take: Fintech is one of the most powerful industry trends I’ve seen in years.
Cash is dead.
Don’t believe me?
I have a simple experiment for you to try: Give a $20 bill to someone under 30 years old, and then watch their reaction.
Not too long ago, my son Steven came home with two $20 bills from filling in as a referee at a community center basketball game. And he had no idea what to do with them!
That’s when I knew that physical money means nothing to younger generations.
Heck, I don’t even really carry cash anymore, either. In fact, a year ago, my wife didn’t want me to ever be stranded somewhere that only took cash. So, she shoved a $10 bill in my wallet — and it’s still there.
To be totally honest with you, there just hasn’t been a place that I’ve ever needed to use it. I hardly even take out my credit card.
Because these days, any transaction that used to be done with physical cash, can now be done via apps…
Cash Doesn’t Stand a Chance Against Fintech
Things like depositing a check with a bank teller, placing a trade by calling a stockbroker or using a token to access the New York City subway are so 1980s.
Smartphone apps make all of these transactions quicker, easier and more efficient.
You simply don’t need a wallet stuffed with cash or even credit cards. Other than a driver’s license and maybe one credit card just in case … everything you need for payments can be on your smartphone.
Whether it’s at the grocery store buying snacks or the mall to buy clothes, you can just wave your phone over a contactless payment system.
Cash just doesn’t stand a chance.
And all of the apps, software and devices that are replacing cash and banking are part of the financial technology — or fintech — revolution…
You Can’t Beat This $10.5 Trillion Revolution
Billions of people worldwide are using digital wallets and payment apps in place of traditional options.
In some places, fintech is the only option. For example, in many parts of China, counterfeiting is so rampant that street vendors will only accept electronic payments.
Plus, since the world started reopening from COVID-19, more and more retail locations and customers are preferring contactless payments.
So, the safety and convenience offered by this mega trend simply can’t be beaten.
In fact, research firm Statista predicts that the value of digital payments alone will grow to over $10.5 trillion by 2025…
And investors who take advantage of this fintech revolution could see huge gains in the years ahead.
In fact, I’ve already identified several of the biggest players in this space…
One is focused on modern banking and money movement. It already has 33 million customers and exclusive agreements with companies like Apple, Amazon and Uber. And it’s generating more than $1.1 billion in revenue.
The other dominates fintech from behind the scenes. This company touches nearly 100% of U.S. households, and processes 4 out of every 10 point-of-sale transactions in the U.S. Yet Wall Street is completely underpricing its stock!
You won’t want to miss out on this opportunity to profit. So, be sure to check out how you could take advantage of these two companies today.
Founder, Alpha Investor