A fintech business is one that offers financial services within the technology realm, including those that manage money transfers, facilitate online banking, banking through apps, mergers and acquisitions, and online banking services. What is FinTech? The term originated by combining the words Financial and Technology, and its popularity is increasing worldwide. The vast majority of FinTech companies have been launched online and found their footing there as new start-ups. They have created a market that coexists with large financial companies while offering technologically advanced financial services to the online world.
Many companies are playing in the FinTech space, but a handful of these guys are indeed a cut above the rest. It doesn’t matter if you are talking about payment processors, lenders, or SaaS brokers; these players are revolutionizing FinTech and its place in the world.
When most people talk about FinTech, a few processing apps immediately come to mind, and we are going to talk briefly about each of them. With so many options that exist online for processing payments, sending money, and collecting money, it can be challenging to sift through them all. Here, we have done the sifting for you and will jump right into whose-who in the FinTech-Zoo.
It seems that every coffee shop and taproom I visit these days throws a tablet in front of me with Square as their primary processing SaaS. Likewise, Square has found its way into small mom-and-pop shops and into the merch booths of traveling musicians. Square is everywhere!
Square is a U.S. based financial service and technology firm that offers support both at point of sale in retail establishments as well as through mobile payments and online payment portals through websites. In addition to the payment portals, they also offer the devices and hardware for accepting payments both online and in person. Square is a FinTech processing application that gives every business owner an affordable way to collect debit and credit card payments without enormous fees. They have a complete suite of business solutions for companies of all sizes.
As a fan-boy of Stripe, this has been my go-to app for collecting money and setting up subscriptions for services I offer. As a leader in the FinTech space, Stripe has positioned itself as a SaaS solution for direct billing, recurring billing, invoicing, tax management, and everything else you would need to manage your business finances. Partially funded by the co-founder of Paypal, Stripe is one of the largest online payment options in the USA and Canada. It is offered on many websites as a payment option from both large and small independent businesses. With an easy connection to several platforms, it is a top choice for payment processing on the go.
Wellesley Hills Financial
While researching the internet for fintech investment bankers, we stumbled across a lesser-known player in this space. This FinTech firm offers leading technology in managing your finances and adapting to the changes affecting the industry. Within the investment banking world, they are one of the top companies and use the information on past and current trends to extrapolate how the market will be changing to create five-year plans, ten-year plans, and more. Wellesley Hills Financial is slowly becoming the go-to place for FinTech investment banking. According to their website, they offer transaction advisory services, strategic advisory services, in addition to providing a full suite of investment banking services, from buy-side and sell-side M&A to debt and equity raises. They have the connections and personnel available to help these FinTech SaaS companies connect with investors that are actively looking to deploy capital to high-growth, recurring revenue businesses. At the end of the day, these are the guys you want to connect with when it’s time to sell your SaaS product. Wellesley Hills is becoming the innovator in FinTech investment services.
Currently, the largest FinTech firm globally, this Chinese corporation has over 80 million merchants worldwide. It is the most prominent digital payment network in China and growing, having expanded into Europe and the U.S. After partnering with digital wallets, they were able to become reliable payment methods at retail stores in areas throughout Chine, Europe, and the USA. Ant Group came out the gates intending to create an infrastructure and a platform to support the digital transformation the world has been experiencing with the World Wide Web. According to their website, their goals are similar to others in this space, to enable all businesses, no matter the company’s size.
Paytm (Pay Through Mobile) is an India-based start-up company that started as an e-commerce system accepting payments online. According to their website, Paytm started the Digital Revolution in India. They now offer 11 languages, and it is used to pay cell phone bills, energy bills, purchase event tickets, and make reservations for movies and traveling. It also provides the ability to pay for items in retail settings and on the go with portable payment solutions. They have literally become India’s leading Payment App. Today, more than 20 Million merchants & businesses worldwide are powered by the Paytm SaaS point of sale billing software to Accept Payments digitally. As a leader in FinTech, this innovative group definitely deserved a place on our top list.
FinTech and The Future
There is no doubt that we are living through a digital revolution that has seen giant retail outlets like K-Mart and Sears close retail locations around the world almost overnight. With the internet comes vast amounts of opportunity for those hungry enough to take a risk and try their hands at e-commerce. Along the way, these revolutionaries will need FinTech by their side to send money, collect money, transfer money, and manage it. FinTech investment bankers will lead the way as those businesses grow, merge, and become the next giant in the space. You can expect the leaders we referenced above to be part of this revolution and continue leading FinTech into the future.