2023-06-29 06:40:00 ET
PayPal (NASDAQ: PYPL) and Block (NYSE: SQ) are leaders in the lucrative digital payments industry. Each has carved out a valuable niche in the broader sector, and they have proven to be pioneers in displacing cash. Shares of both are down big from their peaks, presenting investors with a potential opportunity.
Which one of these top fintech stocks is the better one to own? Let's look at the investment merits of both PayPal and Block before coming to a conclusion.
With 433 million active accounts and $1.36 trillion in 2022 total payment volume, PayPal is an industry juggernaut. It is not only a popular service that allows merchants to accept cashless payments but the most ubiquitous digital wallet, with a huge lead over second-place Apple Pay. In fact, PayPal is accepted by 79% of the top 1,500 online merchants across North America and Europe.
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Better Buy: PayPal or Block?