PayPal (NASDAQ:PYPL) and Intuit (NASDAQ:INTU) are the newest members of the Financial Technology Association (FTA) according to a statement by the group. The two big tech firms join a growing roster of Fintechs aiming to have their voices heard inside the beltway. Names like Block, Stripe, Plaid, Klarna, Marqeta, and more are part of the organization. PayPal is, of course, one of the largest payment platforms in the world and Intuit is a portfolio form with brands like TurboTax, Mailchimp, and others.
Penny Lee, CEO of FTA commented on the new members:
“Intuit and PayPal have brought innovation into the marketplace that allows greater access to financial services. We’re excited to welcome these industry leaders to the Financial Technology Association and work together to build the future of finance.”
The FTA advocates on behalf of policy issues that impact digital finance providers. While traditional finance has well-established paths to policymakers in Washington, DC, Fintechs have been slow (at times) to pick up the baton and share their perspective with regulators, and other policymakers such as elected officials. The FTA states that they “champion the power of technology-centered financial services and advocate for the modernization of financial regulation to support inclusion and responsible innovation.”