There are still a few old-timers who carry around cash, but the majority of Americans are using some form of plastic or a smartphone app to make everyday purchases. Eventually, the United States will be a completely cashless society. In a study conducted by the Federal Reserve, cash was still used in over thirty percent of transactions, but most of these transactions involved purchases under $25. Ted Bauman is an economist who recently wrote a newsletter to his subscribers where he was discussing the ongoing trend of cashless payment methods and their growing popularity. He feels that traditional credit card companies have had their time in the sun and will not offer the greatest profit potential for investors. Although Google Pay and Apple Wallet are extremely popular, Ted Bauman feels that the best investment within the realm of cashless payments methods is going to be PayPal.
Experts at the U.S. Elections Project are predicting that about half of eligible voters will cast a ballot on this #ElectionDay, which is more than typical turnout for midterms. Will it make a difference? https://t.co/lUeMHjQOCE
— Ted Bauman Guru (@TedBaumanGuru) November 6, 2018
PayPal is the owner of the Venmo app. Users of the app can send funds quickly to other members of the app. It is very useful in a situation where a group of friends is ordering takeout, but some members may not have cash on hand. They can all send funds to the individual who is placing the order and split the bill evenly. There is still a lot of potential in the cashless payment system industry and many new competitors could emerge. PayPal has taken steps to remain a leader in this area. The company separated from eBay in 2015 and has seen its revenues grow substantially. A user of PayPal can use the app or a PayPal credit card reader for payments.
Ted Bauman feels that PayPal may be a great investment and now is the time to buy, however, he advises individuals to do their own research before making any investment. PayPal trades on the major stock exchanges under the ticker symbol PYPL. A popular trading indicator is the relative strength index and this indicator is giving a major buy signal for PayPal. Anyone interested in other stock recommendations from Ted Bauman can subscribe to one of his newsletters from Banyan Hill Publishing.
To know more click: here.