The article discusses how fintech companies are increasingly positioning themselves to compete with traditional banks in the payments sector. It highlights the strategies and innovations these fintechs are using to gain a foothold in a market historically dominated by banks.

Clover dominates the small restaurant POS market with a 20% share, while Toast follows closely at 17%. The report highlights fierce competition among established firms and fintech newcomers, with credit and debit card payments making up 85% of transactions. Analysts expect market growth to slow due to inflation and changing consumer habits.