What is Fintech?
A person who looks into these two words will
not be able to avoid coming across companies that use computer technologies to
facilitate the process of making payments, transfers, transfers, and other
important financial transactions. These companies range from payment platforms
like PayPal and credit cards to data processing like Visa, Google Wallet, and
OVO. This list may seem endless as there are so many companies offering this
service. However, when you think about it, the number is almost infinite. We
know that each company offers its own unique product which one can choose for
his/her banking preferences and other needs like online shopping or social
networking. The only thing we need to make clear is that these products do not
offer such seamless operations with advanced features which makes them stand
out. Thus, in this article, I am going to discuss the best fintech companies
available today such as PayPal Holdings, Amazon Web Services, Apple, and BIZAI,
among others. So without further ado let us begin with this article by discussing the best payers. Then we move on to discussing the top 3 fintech
companies such as PayPal Holdings, Amazon Web Services, and LitePay which is
also known as QuickPay. Let us go ahead and discuss some more significant facts
about PayPal Holdings. After that, we will discuss three key benefits like how
they operate using blockchain. Later, we will touch upon why crypto users
should trust these companies by sharing the fact that they are using
decentralized networks. In conclusion, we conclude our article by looking at
the company's future plans.
Top 2 Best Companies: PayPal Holdings and
LitePay
Top 2 Best Companies: PayPal Holdings and
LitePay
PayPal Holdings is an American-based, cryptocurrency-based
fintech company that began its journey in 2018. It was founded by Mike McKean
and Joe Gebbia. They were both former bankers and entrepreneurs. Although they
have recently decided to invest heavily in ICO projects, before then, they
are focusing on enhancing customer experience. Nowadays, Paypal focuses its
efforts towards establishing itself in the eCommerce industry. They currently
support more than twenty different brands including eBay, Macy’s, Spotify, and
Amazon. They have been providing outstanding services and products including
cross-border payments, money remittance, cash deposit, funds withdrawal, loans,
and other types of loans. Moreover, here is where they have their strengths.
Some of their prominent customers include Dell and P&G companies. On the
other hand, LitePay is another popular company that has also made a tremendous
effort in developing its consumer service network (CSN) and promoting new
technology like blockchain. Many companies and individuals have started adopting
blockchain technology to improve their efficiency in various fields of life.
Therefore, now these two companies are gearing up to leverage these
advancements for the betterment of the global economy. It would help people
exchange money securely, transact with confidence and create value for their
businesses. Let us start with the two biggest giants of this industry; PayPal
Holdings and LitePay. Now let's see what they offer and why they are worth
investing in.
PayPal Holdings is the largest payment
platform and one of the most trusted players in the US. With over $50 billion
annual revenue, it provides diverse financial transactions for its customers
and provides excellent and robust financial services to the worldwide market.
One such example here is mobile application development. Their app stores
app store includes hundreds of free apps such as Money Remittance Applet, Cash
Deposit Applet, etc. As we all know that Mobile apps deliver superior user
engagement and thus they are highly preferred as payment gateways in e-commerce companies and other industries like manufacturing, retail, mining, logistics,
etc. Other notable customers include IBM, Microsoft, HP, Sony Corporation,
Pfizer, and Bank of America. Additionally, they are also working hard to expand
into several vertical sectors like education and health care. Also, because of
the aforementioned positive feedback, they are increasingly exploring
possibilities of leveraging blockchain technology to promote commerce. Here are
some reasons why these companies are worth investing in:
- Speed – One of the main requirements of every company that deals with money remittance and other related transactions is speed. Due to the current developments in infrastructure. Thus, if they implement and integrate blockchain technology, their services become faster and much safer to conduct. Moreover, they provide secure and more reliable payments for consumers, thereby enabling them to deliver products and promotions at the right time and place. For instance, if you want to buy your Christmas tree from China to India, all you need is just send a quick email to Paypal Holdings and get instant approval from the shipping team at Amazon. You can complete this transaction within minutes. Similarly, Shopkeeper makes it easier to purchase items via UPI tokens. Another noteworthy method is sending Bitcoin to pay your bank fees. Both of these systems also enable companies to keep operational costs low by eliminating manual processes and paper transactions, thus becoming more efficient. So, if we think of Paypal Holdings from a greater perspective, these are the major reason why they have gained popularity.
- Security – Any firm dealing with money transfers would need to put in place effective security measures to protect their users and other people involved in the process. To achieve this, they could use blockchain technology to prevent fraud, theft, and other kinds of attacks. But this requires a significant amount of investment and technical expertise to build and launch a wallet. According to recent reports, Paypal Holdings is doing some massive research and development (R & D) to address such issues. Additionally, a lot of technological developments have been done in this field of cybersecurity, including new wallets and tokenized wallets which makes them gain a competitive edge over other competitors. Furthermore, they are utilizing their core strength of innovation, and also, deep understanding of the cryptocurrency industry to develop customized solutions to meet the stringent standards in their respective markets. Based on such advantages, their investors are slowly showing stronger interest and trust in their company. Besides, they are employing a strategy that seeks a strong relationship with stakeholders, suppliers, and customers.
- Ease of Use – Every human being wants to conduct quick and hassle-free transactions. Especially while buying a car or receiving a loan, it is always required to pay an instant fee, sometimes taking days or even weeks for certain transactions. If you want to receive immediate liquidity in terms of bitcoin, you must utilize cryptocurrencies and smart contracts and also seek to connect it with multiple banks through a variety of payment methods. By leveraging such tech, investors and companies like banks can enjoy this great feature. What’s more, as soon as new digital currencies (such as BTC and Etherium are launched, these companies will work with a huge number of banks and other organizations seeking to embrace the same. Thus, this further extends the adoption timeline for a particular project or project. When it comes to financing and savings, these benefits are well worth noting at the moment as the financial institutions are embracing such concepts as Digital Decentralization (D3). Not many companies are yet seeing the light at the end of the tunnel. Among the few that do see their hope of succeeding in this regard is Paypal Holdings. The first phase of their blockchain solution is already set to be released, which aims to improve the speed and transparency of financial dealings. Such projects are also expected to reduce operating expenses and increase compliance levels. Besides, their focus remains strong on empowering community-driven initiatives. And most notably, they aim at improving their reputation for responsible corporate behavior and increasing public trust, which helps them grow and expand globally. All in all, these factors make these companies worth investing in.
3 best companies: PayPal Holdings and LitePay
LitePay is an easy-to-use peer-to-peer
payments platform that offers fast and secure transfer services to merchants
in North America. It enables international remittance of goods and securities
through various options like instant transfer, bill request, or bill payment via
Ethereum. Most of the merchant clients use the latter option. There is a wide
array of payment options that merchants can choose from like gift cards with
no need for the additional verification process, debit cards, cheques, and wire
transfer options. Notably, LitePay allows merchants to offer discounts on
different types of products bought from abroad like furniture, clothing, home
décor, books, and art and stationery. Moreover, their website offers the ability
to withdraw USD and cryptocurrency payments, thereby facilitating quick
transactions. Apart from merchant services, they also serve commercial clients
as well. Among notable ones are retailers such as H&M. Additionally, they
allow banks and corporations to streamline their payments and allow them to
communicate with them directly via various channels. Moreover, the company also
specializes in providing software engineering services to both startups and
enterprises. These services enable them to provide sophisticated solutions to
their clients and other businesses which require advanced services and tools.
Hence, their clients are gradually gaining trust in them.
These companies offer cutting-edge transaction services and are providing the best services to market participants including merchants, banks, and other entities. Whereas traditional payments and payment processors are solely focused on supplying the same service, LitePay helps the world improve its ecosystem by creating a powerful open-source blockchain protocol. Thus, they have successfully integrated blockchain technology to make the transaction process much smoother in comparison to other payment channels. Not to mention the impressive number of exchanges that accept fiat payments. From exchanging bitcoin to paying bills, this platform has enabled people to transfer large amounts of assets across borders. At present, LitePay is part of the ChainPay system, which facilitates electronic payments on behalf of buyers and sellers.
4. Speed of Transaction – The entire idea behind the adoption of blockchain is to make payments faster and more stable. LitePay is leading all these trends and they are trying to capitalize on the pace of advances. They have been constantly growing their pipeline of projects and also have partnered with several companies to come up with innovative solutions and services. Through their extensive R
Fintech
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