IPAY - Mobile payment ETF IPAY is in the green thanks to Visa & Mastercard

The first exchange traded fund to target the mobile payments industry ETFMG Prime Mobile Payments ETF (NYSEARCA:IPAY), has caught a bid to start Wednesday’s trading session as it has support from key holdings like Visa (V), and Mastercard (MA). IPAY is +2.5% thanks to V popping 7.2% and MA rising 5.7%.  IPAY, which intends to capitalize on the transition from cash/physical credit card payments to a mobile/digital system has 12.42% of its portfolio dedicated to the two multinational credit card companies. MA has a 6.34% weighting in IPAY, making it the fund's top holding and V comes forward with a 6.08 % weighting, the ETFs third-largest holding. IPAY is an exchange traded fund that aims to benefit from the increasing use of smartphones, e-commerce, and the need for hassle-free transacting. ETFMG stated: “Mobile payment market size is estimated to be valued at $42 billion in 2022 and reach $590 billion by 2032.” For investors interested

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Mobile payment ETF IPAY is in the green thanks to Visa & Mastercard