Ted Bauman, who edits an email financial newsletter, is a big proponent of investing in PayPal. He says that in a world where cash is no longer king the company that offers the best user experience, services, and security when making financial transactions is the one to bet on. In his estimation that company is PayPal.
There are still some people around who will use cash to make small purchases such as those less than $20. Increasingly, though, people haven’t had cash in their wallets for months to years. People want to either use a debit card, credit card, or their smartphone to buy things nowadays. Cash is a dwindling part of the equation when making a purchase.
Ted Bauman says that investors can take advantage of the move to making financial transactions digitally. His expertise comes from being an international economist who spent 25 years working in South Africa’s not-for-profit industry. He worked on both housing and finance. He has long been watching the evolving financial industry and has been sharing with subscribers on how to make money from the new ways of spending for the past few years. Learn more about Ted Bauman at bizjournals.com
He warns people away from old-model companies like Mastercard and Visa. He says that cashless payment platforms, such as PayPal, are replacing the use of credit cards. He says that PayPal offers many benefits to its customers who want to make online payments. This company has been very successful at adapting to how consumers want to spend their money.
PayPal was once owned by eBay who bought them to manage purchases on the eBay platform. Before that, people who used eBay had to deal with checks or other inconvenient ways of buying things. PayPal greatly simplified matters by offering a unified payment platform.
Ted Bauman sees PayPal as a precursor of digital currencies like bitcoin. If people hadn’t gotten used to storing money in the cloud on PayPal they might never have wanted anything to do with cryptocurrencies. Ted Bauman points out that PayPal is now used around the world and is not only firmly entrenched but offers something unique and valuable.