Covid-19 Relief Could Stimulate Fintech Stocks

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If these stimulus payments are used like past ones, investors might want to take a closer look at fintech stocks like PayPal and Square. telisdemos explains. WSJWhatsNow

Millions of Americans have started getting another round of stimulus—and so, by extension, could many fintech companies.. Upstarts such as Chime Financial and others often offer “early access” for many incoming direct deposits, in this case enabling customers to spend stimulus money headed into their accounts a few days before a typical bank customer might.

Many neobanking firms like Chime aren’t actually banks themselves, but software companies with partner banks sitting behind features like deposits and cards. There is no magic technology involved in early access, which typically involves floating money to a customer that the bank knows will arrive shortly via the usual payment system. There is essentially no credit risk, but it does in theory tie up liquidity.

 

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