SoFi Technologies gains 75% over three years while PayPal declines 32% amid leadership changes and competitive pressures.
SoFi Technologies has surged 75% in the past three years, contrasting sharply with PayPal Holdings’ 32% decline. PayPal, once a fintech pioneer, faces intense competition from digital wallets like Apple and Alphabet, eroding its market dominance.
PayPal retains 439 million active accounts but struggles with shrinking margins as its lower-margin white-label payments business grows faster than its branded checkout. Leadership instability, including the recent firing of CEO Alex Chriss, has further hindered its turnaround efforts.
SoFi, meanwhile, has capitalized on its super-app model, attracting users with integrated financial services. The shift highlights a broader industry trend favoring agile, user-focused fintech platforms over legacy players.