Top Ten Companies Disrupting The Fintech/Payments Industry In 2016

  • 30 August 2016
  • Disruptor Daily

As of late, financial companies looking to change the way in which we conduct our financial transactions have been making waves. Aimed at streamlining these transactions, making it easier for consumers and businesses alike to do business in a more efficient manner, fintech companies are popping up left and right in the payments industry. But, who’s causing the most heads to turn?

21 Inc

Ever thought about buying groceries with your refrigerator? Probably not, but 21 Inc has. The company has created what they call a BitShare chip. Embedded in any IoT device it offers it the ability to mine Bitcoins to be used for commerce.

Stripe

Stripe’s user experience is not much different from any other fintech company. The wow factor with this service is their ability to take process payments from over 140 currencies, Bitcoins, bank transfers and Alipay directly from mobile websites.

Ripple Labs

Allowing transactions in any currency as well, Ripple Labs takes it a step further, bypassing typical banking fees and taking the transaction directly between the consumer and the manufacturer. This open-source payment network transfers money strictly between the two parties.

Coinbase

Essentially the bank of bitcoin, Coinbase is an exchange company based in northern California transacting traditional currency into bitcoin. It also acts as a bitcoin transaction service and storage in over 200 countries. With Coinbase, users can purchase bitcoins, store them and use later just like you would with a traditional banking system.

Square

By now, everyone has come across a merchant utilizing Square to take payments. With a mobile solution enabling businesses to take payment from anyone at anytime from anywhere, Square has revolutionized the way small businesses operate. It’s less expensive than traditional payment systems and incredibly user-friendly and easy to set up.

AngelList

From the people who brought you Seed and Early Stage Venture, AngelList connects investors with fledgeling startups and hungry employees looking for gigs with startups. Joining is free of charge for startups and allows them to not only find qualified employees but also funding to support their efforts.

Kreditech

Having trouble receiving a loan? Kreditech may be just what you’re looking for. The German-based online lender offers loans to individuals not only based on traditional credit ratings but also on consumer behaviours gathered from social media, bank statements and over 20,000 other data points providing a more holistic view of a borrower’s creditworthiness.

RobinHood

One roadblock for many people when considering getting into the stock market are the fees involved with trading. RobinHood collects exactly 0% commissions and allows users to buy and sell stocks…for free.

SecureKey Technologie

The authentication platform reduces the risk and cost associated with authenticating users of websites containing delicate information like that of the U.S. and Canadian governments. SecureKey Technologie allows users to access these sites using their banking credentials. This eliminates the need for the storing of millions of passwords.

Kickstarter

Perhaps the most popular crowdfunding website for entrepreneurs and aspiring inventors, Kickstarter has created a platform for people to reach their funding goals. The only caveat, which protects the potential investors, is that if the preset minimum goal is not met, no funds will be collected by the startup.

 

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