With better-than-expected inflation reports, the market is looking forward. The earnings season has been excellent, and at least one rate cut is expected later in the year. This could boost consumer spending, and fintech organizations are set to benefit, so now is a great time to consider fintech stocks to buy.

The industry has grown over the past few years. As consumer preferences change from cash to card and users start opting for financial apps and digital payments, these three companies will see impressive growth.

The future is fintech, and if you are looking for fintech stocks to put your money in this month, these are the best three. These stocks are in a correction mode despite having reported impressive fundamentals, and the dip is a chance to accumulate. Let’s take a look at the three fintech stocks to buy. 

Fintech Stocks to Buy: PayPal (PYPL)

American payment service provider PayPal (NASDAQ:PYPL) hasn’t had a smooth ride. PYPL stock has been moving sideways over the past year and is trading for $64 today. It has been moving from $50 to $64 since October 2023. The stock has dropped from the all-time high of $308 and may not reach there soon, but accumulating in the dip is smart. 

The company’s first-quarter results were impressive, and it showed profitable growth. The revenue reached $7.7 billion, up 10%, while the EPS stood at $1.08 per share. It ended the quarter with a cash balance of $17.7 billion. 

Despite the high-interest environment, the 14% rise in total payment volume shows that PayPal has become indispensable to several organizations globally. It has delivered impressive growth, and an interest rate cut could benefit the company significantly. 

The future is digital, and the long-term growth of e-commerce with digital payments will help PayPal grow. The stock will see a strong upside as the company continues to grow revenue and income steadily over the coming quarters. Over a dozen analysts have upgraded their price target after the results. 

Block (SQ)

Block (NYSE:SQ) is a millionaire maker trading stock at $73 today. It has been up 25% in the past six months and hit $85 in March, but it has lost value since then. However, it was trading as high as $278 in February 2021 and is nowhere close to this high. 

Several business developments have helped the stock move upwards. It reported better-than-expected first-quarter results with a 19% revenue growth to hit $5.96 billion, driven by the Cash App. It is one of the strongest growth drivers and has contributed $1.26 billion to the gross profit. The net income stood at $472 million, with a 6% jump in the gross payment volume to $54.43 billion. 

The addressable market for the Cash App is expanding, meaning revenue growth will remain steady. Block has become so much more than just a payment company with this app. It has 57 million monthly transactions, meaning users have at least one financial transaction in the Cash app. 

The company has made significant progress over the years and has reported quarterly GAAP net income in the recent quarter. While it is dealing with a federal investigation, which could impact the stock, long-term investors need not worry. The company’s positioning in the industry and the strong fundamentals make it a stock to buy and hold.  

Fintech Stocks to Buy: SoFi (SOFI)

I have been pounding the table on SoFi (NASDAQ:SOFI) for a while now. The company reported stellar results but hasn’t helped the stock move upwards. Trading at $7 today, the stock has been moving from $6 to $10 in the past six months. While it is up 36% in the past 12 months, it looks highly undervalued. 

The all-digital finance business saw significant growth in member rates and ended the first quarter with 8.5 million members. The number of members increased 35% year-over-year. SoFi’s financial services segment was up 54% and is also the fastest-growing segment. The management expects a slowdown in the lending segment, which remains under pressure due to the high-interest environment. 

It also reported the second quarter of positive net income, and if the company manages to continue growing at the same pace, it could have a full year of positive net income. The management aims for a net revenue increase of 15% in the second quarter. 

It has surpassed expectations for the past two quarters and could continue with the same momentum for the rest of the year. With a raised forecast, SOFI stock looks highly promising. 

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.