It’s hard to believe, but over 80% of global payment transactions take place in cash. Warren Fisher, our guest on today’s show, is eager to see that number decrease and for digital transactions to become the norm. Warren’s company, Manole Capital Management purely deals with Fintech companies, specializing in the payment space. Not with the typical big payment players that you might be thinking of such as Visa and Mastercard, but with the payment processors and merchant acquirers whose names you have most likely never heard. Our discussion with Warren delves into why he has chosen the payment space as his niche, how COVID-19 has done a lot to boost the e-commerce industry, and why he believes that Fintech growth is only just beginning. We also discuss the most advanced digital payment solution of the last 10 years, which originated in an emerging economy country, the country which is nearing a cashless system, short-term trading versus long-term investing, and Warren’s thoughts on Bitcoin. We hope you learn as much as we did from this episode!

Key Points From This Episode:

• Fintech; as defined by Warren, and what he sees as the “quintessential Fintech space.”
• Current trends towards passive investments and specialization.
• Characteristics that Warren looks for in a business that determine whether he wants to invest.
• Why Warren’s company doesn’t utilize revenue multiples.
• The numerous types of players in the payment space, which you have most likely never heard of.
• How COVID-19 has accelerated the e-commerce trend and Warren’s future predictions.
• Sweden’s trajectory towards a cashless economy.
• Elements that make the Manole Fintech Fund different from other funds. 
• What the short books and long books in Warren’s company look like.
• A brief analysis of the GameStop saga.
• Why Manole Capital focuses much more on long-term investments than short-term trading.
• Issues that Warren has with Bitcoin, and why he always has a laugh on May 22nd. 

Links Mentioned in Today’s Episode:

Manole Capital Management

Goldman Sachs Asset Management

Morningstar

Visa

Mastercard

PayPal

Global Payments

FIS

Pfizer

Heartland Payments

Square’s Cash App

Adyen

Braintree by PayPal

Stripe

Chase

First Data

Wells Fargo

Citi

McKinsey Consulting

M-Pesa

Bitcoin

Best Buy

Laszlo Hanyecz

Jennifer Merchant 

PitchBoard