PayPal Is The Best Cashless Company to Invest In This Holiday Season
This week, I had the pleasure of being quoted by Lisa Matthew from High-Tech Chronicle on one of my favorite stocks, PayPal.
Cash is no longer king.
When is the last time you used cash to pay for something?
Some people may still use cash for a few small purchases and maybe to tip a valet while traveling, but the majority of consumers now pay with either debit, credit, digital wallet applications, or auto-pay features on websites.
As Matthew explains in her article, “According to research from the Federal Reserve in 2016, about 35 percent of transactions were made with cash. However, the majority of those cash purchases were for amounts under $25.”
The truth is, we are heading towards a cashless future.
Transaction trends are changing and that is why PayPal is an investor’s best friend.
You can take advantage of the shift towards digital payments by investing in PayPal.
However, I do recommend staying away from investing in credit card companies like Discover and Visa.
Although Google Wallet and Apple Pay are popular, PayPal is a better cashless payment companies for investors to consider.
On the New York Stock Exchange, PayPal is classified as PYPL. It is one of the pioneering companies of cashless online payments. In the past, it was exclusively used for eBay payments. The company’s design protected both merchants and buyers on the popular online auction site.
Today, it has grown into a global company that is used for everything from sending personal gifts to paying independent contractors. PayPal became an independent company and separated from eBay in 2015. It now has more than 244 million users around the world, which makes it the leader of the online payment market.
In a 2017 Statista report about preferred online payment platforms, almost 40 percent of respondents in a survey said that they preferred PayPal over other platforms. A little more than 40 percent of the respondents said that they preferred credit cards. Recently, PayPal also launched its own credit card option with the cooperation of Mastercard.
Let’s not forget that popular payment app, Venmo is also owned by PayPal.
I recommend investing in PayPal now, as the company’ stock has only room to grow.
With the holidays approaching, we can only expect PayPal’s stock to soar.
For the full-story, read Ted Bauman Explains Why PayPal Is an Investor’s Best Friend by Lisa Matthew from High-Tech Chronicle.
An economist by training, I grew up in the U.S. but emigrated to South Africa in the mid-1980s where I became deeply involved in the development and implementation of post-apartheid economic and urbanization policy. During the 90s and 2000s, I was a consultant to a variety of entities, including African and European governments and the United Nations.