The financial technology (fintech) industry has evolved rapidly in recent years, with rising interest rates causing many fintech companies to expand their products and services.

While some fintech companies have failed to adapt, others have managed to grow their customer base in an increasingly competitive landscape. Three fintech stocks who came out stronger on the other side are SoFi Technologies (NASDAQ:SOFI), American Express (NYSE:AXP)And Paypal (NASDAQ:PYPL). Here’s why you should consider buying them now.

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1. SoFi Technologies

SoFi has a growing list of financial services available to customers, including checking and savings accounts, investments and loans. Although there is strong competition in the online banking market, SoFi continues to grow its customer base and sales.

In the third quarter (ended September 30), SoFi’s revenue increased 30% to $697 million, and the addition of 756,000 new members (what SoFi calls its customers) brought its total number of members to 9.4 million, an impressive 35% increase from last year’s quarter.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 90% to $186.2 million, and SoFi CEO Anthony Noto said the quarter was “the strongest in our history.”

With SoFi firing on all cylinders, it’s no surprise that its stock has gained 98% over the past year (as of this writing). It’s worth mentioning that this sharp rise in stock price has made SoFi stock a bit expensive. SoFi stock has a forward price/earnings ratio of 78.1. But with membership, sales and profits growing, long-term investors may want to acquire shares as the company expands its fintech reach.

2.AmericanExpress

Although you might think of American Express as just a credit card company, its extensive payments system and network of fintech partnerships mean the company is deeply entrenched in the fintech market.

This is great news for investors looking for a compelling fintech play, as American Express continues to attract new customers and grow its revenue and bottom line. Sales rose 8% in the third quarter (ended September 30) to $16.6 billion, and diluted earnings per share rose 6% to $3.49.

This growth was driven by the addition of 3.3 million new cardholders during the quarter and an increase in card member spending of 6%. The strong quarter led management to raise its full-year profit forecast to $13.90 per share, up from $13.55 at the midpoint.

Not only is American Express experiencing healthy growth, but the company’s stock is also relatively cheap. The company’s stock currently has a forward P/E ratio of 19.8, which is significantly cheaper than the S&P500 the index’s P/E ratio of approximately 30.9.

3. Paypal

PayPal deserves a place in this field because it is one of the leading online payment companies and has one of the most popular person-to-person payment systems, through its Venmo app. The company’s decades of experience in financial technology allow it to amass 432 million users worldwide.

Investors were spooked by PayPal’s third-quarter results (ended Oct. 29) as company management said fourth-quarter revenue would see “low single-digit growth,” unlike the growth expected by analysts by 5.4%. But investors didn’t see the bigger picture in which PayPal’s revenue rose 6% to $7.8 billion and non-GAAP earnings per share rose 22% to $1.20.

PayPal is also in a very strong financial position with free cash flow of $1.4 billion and cash and cash equivalents of $16.2 billion at the end of the quarter. In short, seemingly slower-than-expected sales growth for the next quarter shouldn’t shake investor confidence in the company.

In addition to PayPal’s massive user base and strong financial position, the company’s stock also looks cheap. PayPal’s forward P/E ratio is currently just 18.4, making it the cheapest stock on this list and much cheaper than the broader S&P 500’s P/E ratio of more than 30.

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American Express is an advertising partner of Motley Fool Money. Chris Snow has no position in any of the stocks mentioned. The Motley Fool posts and recommends PayPal. The Motley Fool recommends the following options: long January 2027 $42.50 calls on PayPal and short December 2024 $70 calls on PayPal. The Motley Fool has a disclosure policy.