Hello, There is a looming recession and many lay offs and hiring freezes are going on. Stocks are also crumbling. Currently I am working at PayPal. So just wanted to know how safe or how much these fintechs like PayPal, Square, Visa and Mastercard will be impacted if recession happens. I want to know specifically because I really enjoy working in Payments domain and want to explore it further. Also, Which will be the safe or less impacted domains? #fintechs #paypal #visa #square #mastercard #recession #tech
Let’s be clear, Mastercard and Visa are not Fintechs, they’re Financial Services (FinServ) that just so happen to have some solutions (SaaS and PaaS) in there product offerings.
Fintechs get the most hit during major events like demonetisation. I personally feel it should be safe. People are depending on digital payments more now. eCommerce, crypto, edtech are the ones who might be under scrutiny right now. The entire SaaS domain (Atlassian, Freshworks, Etc) should be much safer at this time. Engineering startups like Harness, Gitlab should also be safe.