There are two primary reasons why anchoring your investing decisions to a market’s Fundamental...
ETF Buys into Cashless Consumption
09/28/2015 9:00 am EST
One PowerTrend that is getting much more visibility these days is my Cashless Consumption PowerTrend, explains Chris Versace, editor of PowerTrader.
And while many people tend to view PayPal as an Apple Pay competitor, the reality is its services are part of the mechanism that Apple, Airbnb, Uber, and others use in clearing transactions.
More banks are adding Apple Pay services and Apple is expected to add gift cards as well as loyalty cards, which should help drive both acceptance and consumer adoption.
On a combined basis, those four positions account for 24% of IPAY’s overall holdings.
The fund should also get a boost on the news that Starbucks (SBUX) will start accepting Google’s Android Pay.
In other bullish news, Ferguson Hill, PayPal’s senior vice president of consumer operations, scooped up more shares. Insider buying is always a favorable sign, as we like to see management voting with its dollars.
Much like Apple shares, as we head into the holiday season, all forecasts call for a pick up in online and mobile payments as consumers continue to shift toward online shopping for their gift giving needs.
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