Which payment companies are a good stock to buy in October?

According to Grand View Research, the global digital payment market is expected to grow at 20% annually through 2030. Visa ( V 0.67%), American Express ( AXP 1.52%), and PayPal ( PYPL 0.51%) are three payment companies that stand to benefit from these long-term trends. Here's why they are solid stocks to buy in October.

What are the best digital payments stocks to invest in?

Some of the best digital payments stocks to invest in include Visa Inc. (NYSE: V ), Mastercard Incorporated (NYSE: MA ), and PayPal Holdings, Inc. (NASDAQ: PYPL ). Our Methodology We selected the following digital money stocks based on positive analyst coverage, strong business fundamentals, and future growth prospects.

Why are mobile payments stocks growing?

The proliferation of e-commerce and adoption of these mobile payments by some segments of the population has fueled growth in mobile payments stocks. A 2016 study by The Pew Charitable Trusts found younger Americans – those 18 to 50 – are driving the growth in mobile payments, often enticed by incentives offered by the providers.