Fintech Firms Customers Would Miss Most Revealed

Fintech professionals analyzing digital payment systems.

In the latest episode of The Editors’ Room podcast, Zack Miller and Sara Khairi discuss which fintech companies their customers would genuinely miss if they vanished.

The hosts explore what makes a fintech indispensable, going beyond user numbers to examine the value these companies bring to their customers’ lives and businesses.

PayPal: Enabling the Impossible

Zack chose PayPal as his pick, recalling his personal experience with the platform since the early 2000s. He highlighted how PayPal transformed cross-border payments, making it easier for small businesses to reach a global customer base.

This ability to enable new possibilities, rather than just offering convenience, is what Zack believes gives a fintech a lasting place in people’s lives. He also sees potential in PayPal’s future, despite uncertainties about its direction.

Wise and Stripe: Solving Problems and Becoming Indispensable

Sara took a practical approach, focusing on the specific value fintechs provide. She chose Wise for its efficient solution to cross-border money transfers, a recurring problem for many customers. Losing Wise would leave a noticeable gap in their financial routines.

Her second pick was Stripe, which she sees as deeply embedded in businesses’ payment processing workflows. Replacing Stripe would involve significant engineering work, operational risks, and potential revenue disruption, making it difficult for businesses to switch.

The Fintech “Situationship”

The discussion also touched on fintechs that customers wouldn’t miss if they disappeared. Sara described these as companies whose main selling points are lower prices, slicker interfaces, or better deals, without offering meaningful differences in functionality.

She likened these relationships to a “situationship,” where customers stay as long as the arrangement works for them but feel no strong attachment to the provider. If a competitor offers similar features at a lower price, switching becomes an easy decision.

What Makes a Fintech Indispensable

A company’s value isn’t always tied to offering every financial product or being a customer’s main provider. Instead, it depends on whether users have a strong reason to keep using it. This could stem from a recurring need, a critical business process, or a service that transforms how they operate.