Fintech is a portmanteau of the words finance and technology. A fintech is just a business that helps bring better technology to financial services. The ATM is a historical example; smartphone apps are a current example. In so doing, fintech makes banking, insurance, and wealth management cheaper and more efficient. But what are some fintech companies? The companies listed below are all found in the ETFS Fintech & Blockchain ETF (Exchange Code: FTEC). PayPal PayPal has been one of the biggest winners of online shopping. The company started out (with Elon Musk) helping consumers buy and sell on eBay but has since grown and now offers many products under sub-brands. These products include Venmo, which allows friends and family to transfer cash between each other, Honey, which is one of the largest coupon websites connecting businesses to consumers, and Braintree, who helps companies with their ecommerce setup. These diverse sub-brands enable PayPal to become something of a fintech super app. It now has more than 392 million users as of 31 March 2021, data from their quarterly reports indicates. ...
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