HOW TO PLAY IT

Growing smartphone adoption in Africa is creating a big opportunity in financial technology. The best way to play this trend is PayPal. The San Jose, California– based fintech operates in 200 markets globally. Through its subsidiary Xoom, African members can send money online and transfer funds directly to banks and debit cards. The company reported in April that first-quarter total payment volume surged to $323 billion, up 13% versus a year ago. Net revenue reached $6.5 billion, up 8% year over year. Based on global fintech growth, shares are attractive at $77.18, down from $309 last July.