In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
It is possible to survive without a checking account; and even live a fairly normal middle class life in modern day America. There are actually a wide variety of excellent alternatives to checking out there.
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iPayYou could be an important tool for introducing average Americans to bitcoin by enabling instant payment over the popular app. It might even convince Donald Trump to start using bitcoin.
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The Thunder Network is an open-sourced payment processing platform that could be capable of processing up to 100,000 financial transactions per second if fully implemented. The network is potentially revolutionary because all those transactions will be fully encrypted and authenticated.
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The retail behemoths could also be locking themselves out of a huge market, by not accepting mobile payments or contactless payments. Statista estimates that Americans will spend $210.45 billion in contactless payments by 2019.[2]
The number of contactless payment users is also growing dramatically, in 2014 16.4 million Americans used contactless payments, Statista found. That number grew to 23.2 million at the end of 2015. It is expected to grow to 37.5 million by the end of 2016, 50.2 million by the end 2017, 58.8 million by New Year’s Day 2019 and 69.8 million by the end of 2020.[3]
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Therefore; both Visa and MasterCard are good widows and orphans stocks to hold in your portfolio on a long-term basis; because of the low risk, steady dividend and high-growth potential. Visa stockholders received a 23.59% return on equity, and MasterCard owners were rewarded with a 61.47% return on equity in May 2016.
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These numbers prove that PayPal is a very profitable company that generates a lot of cash. They also indicate that PayPal is on its ways to becoming the king of payment processing.
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Some retailers, such as Walmart and dollar store operators, might view Apple Pay as a niche product that only appeals to a small upper-income segment of the population. If you look at Apple Pay’s website, you see a multitude of high-end urban brands such as Whole Foods and Petco but a shortage of working-class retailers. Bloomingdales is present, but Kmart is nowhere to be seen.
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That means American Express could be a nice bargain stock at some point next year. It also means that Amex is still a really good long-term investment, even if it is no longer America’s favorite credit card.
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If the U.S. economy does tank because of the situation in China, expect LendingTree to be one of the first stocks to go down and go down hard. This stock is sitting on very shaky ground that will soon collapse.
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Despite the risks, the U.S. credit industry is capable of generating a lot of cash, which can lead to high levels of float. Float is Warren Buffett’s term for a constant stream of revenue or stockpile of cash that a company can tap or borrow against at any time. Classic examples of float include credit card fees and insurance policy premiums.
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