They generally benefit from network effects: the more users they have, the more convenience and benefit new users derive from joining. These network benefits may be augmented by leveraging economies of scale and scope in user data for a host of purposes, from prioritizing which information is pushed to users to allocating and pricing credit to sharing reviews.
The entrance of BigTech and FinTech into payments may drive competition, enhance product offerings, and lower transactions costs. It has the potential to enhance financial inclusion by expanding the number and diversity of ways people gain access to financial services and by creating more consumer friendly offerings.