PayPal wants to be a “super app.”
Stripe gets a new valuation from investors of $115 billion.
Marqeta, a global card-issuing platform, files for an IPO.
All three companies are more evidence of the shift in the payments applications and revenues to technology platforms. Investors are betting on the tech firms.
Stripe’s payment volumes are relatively small, Forbes reports, but they grew by roughly 50%in 2020. Interest in Marqeta could be spurred by rising credit and debit card use overall. The firm also has business banking aspirations in the UK as small businesses continue to seek access to digital financial solutions.
The term “super app” is tossed around a lot; it grew out of BlackBerry and applies to the WeChat and Alipay apps. PayPal grander vision of integrated financial services, including may qualify.