How to make money using Fintech companies

fintech companies

How to make money using Fintech companies

What’s a Fintech and how do I make and save money with them? A Fintech is a financial technology company that comes in many shapes and sizes and provides everything from your credit score,, to buying stocks commission-free,, to getting business loans,, and transferring funds without using your bank There are hundreds of Fintech companies and there is a reason why they exist, speed, free services, and easy to use.

Primarily use Fintech

I primarily use Fintech to get cash for my business which is why I use Paypal capital. Even when I don’t need the cash, it’s still a good idea to take these loans on and see how they work in the event you need the money someday. The best time to accumulate different lines of credit is when you don’t need the money, not when you’re desperate for cash. Since my businesses have a healthy return on capital invested, paying a Fintech like Paypal at around 10% per year is not a big deal. My returns hover around 50%.

This means for every $1.00 I invest, I get back in excess of $1.50 over a period of time and sometimes those periods are less than 90 days, depending on the investment. Accumulating lines of credit allow me to double my money off the loaned amount with terms up to 2 years at less than 10%.  It’s well worth the effort and it helps build a relationship with the Fintech lender. CanCapital is another moneylender I’ve used, however, their rates hovered around 20% at the time, so check them out too.

The downside

The downside for them and others like them is they charge a daily fixed amount for pay-back. Unlike Paypal capital that links your sales to what they take our daily. This is better because when business is down, you are not forced to make payments. There are many other Fintechs for and so check out the Fintech Forbes article as listed below.

Fintech platform

Another Fintech platform I use is Venmo, a person to person transfer of funds owned by Paypal. When one of my children needs tuition or book money, I use Venmo to transfer funds directly into their bank account for no transaction cost to me or them. This saves time and money instead of using a bank wire transfer. If I send the money today, it usually lands tomorrow in the recipient’s bank account. Have also used Zelle which is owned by the major banks for payment transfers but found them to have limitations as to the amount I can transfer at one time, so using Venmo is my choice with little to no limitations.


Xoom is a great Fintech for making overseas payments for people that provide services for my businesses. So Xoom is owned by Paypal too, and once I have the offshore recipients’ banking information then they remain in the XOOM platform for any future payments. It takes about 10 minutes to set it up, but it’s only a one-time deal for each recipient. People in countries like Pakistan get their money the same day in minutes, Bangladesh gets theirs in a few days, and you can set up text messaging so you and the recipient will know when the money has left and when it arrives.

Paypal again

Now this is not a Paypal advertisement, and I get no fees from them, but I have used them for all the above and find it is fast and easy, especially when it comes to getting loan money. Paypal loans do not affect your credit score and you get an answer in seconds not days like CanCapital or eBay credit.

Here are my top 10 Fintech companies and the services they provide.

  1. Paypal working capital
  2. Venmo money transfers
  3. Xoom for offshore payments to suppliers or personal. Same-day or next day receipt.
  4. Zelle, major bank-owned person to person money transfer like Venmo
  5. Robinhood, free stock buying and other loans available for acquiring and or trading stocks
  6. Credit Karma. The best way to keep track of your credit scores
  7. CanCapital, another business lender
  8. Amazon capital for business loans
  9. eBay capital for business loans
  10. Forbes Fintech 50

Forbes magazine comes out with its yearly Fintech 50, and the most innovative companies for 2020 are listed above.

There are many Fintech companies that provide a host of free services to make your life easier and faster.  So the old way of doing financial transactions for your personal and business needs is now over. The new technology is the wave of the future, with more to come

Mike Addis
Carlsbad California

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8 thoughts on “How to make money using Fintech companies

    • mike says:

      Banks and governments want to keep control. They do not want people moving money around easily. They will say to protect against illegal activities or other reasons. The free market is the free market. But having Free comes at a cost

    • mike says:

      Fintech is fast. Immediate like Venmo in the states. Or Zelle in the states.
      I can use western Union which is like a fintech and have money in Nigeria in a minute.
      Wire transfers cost me $30, Fintech using TransferWise costs me $5

    • mike says:

      Fintech is cheaper and faster usually. Way cheaper. Like Western Union is cheaper than wire transfer. Money gram is cheap and Transfer Wise or just Wise. Faster and cheaper.

    • mike says:

      Correct. Fintechs charge way more than banks. Banks get their money directly from the Federal Reserve or depositors. Fintechs bowwow from banks at one rate then resell it to you and me at a higher rate.
      Si Pay Paypal Capital about 9% per year. But they loan $50,000 in 10 seconds.
      When I go to my bank for a line of credit with $500,000 in their bank and millions coming through as cash flow they loan me $15,000 in about a week. Their rate is 6%.
      Why? Because they don’t want that business. So this bank, I have 6 banks says, this is how we start. So they loan me a fraction of what I already have in their bank!
      Pretty funny huh?
      So Fintechs came along and said, that’s screwed up, let’s attach the banks and make a ton of money. And they did.
      Fintechs still make 100% return on their money. And they are 10X faster. Pretty cool huh?

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