SC Thematic Payments Innovation Index


Index Performance




The Thematic Payments Innovation Index (TPAIN) tracks the performance of companies innovating across the payments landscape. Unlike other payment and fintech indices, TPAIN intentionally tracks companies that are focused on payments and driving growth through innovation. The companies included were selected for their best-in-class product offerings for these high-growth use cases - from consumer payments to business to business, from credit underwriting to payments infrastructure. Developed by experienced product developers in the payments space, having built the global payment and commerce systems at Airbnb, PayPal, Eventbrite, Brex, and Plaid.

  • TickerSCPAY
  • Inception Date04/28/2023
  • WeightingEqual
  • # of holdings26
What's inside?


All holdings as of June 12, 2024
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Payoneer Global, Inc. (PAYO)5.27%$2.13B18.84%81.18%1.48
Naspers Ltd. (NPSNY)5.21%$36.64B-14.63%N/A8.69
Tencent Holdings Ltd. (TCEHY)5.20%$446.25B1.22%51.12%4.31
Sea Ltd. (Singapore) (SE)5.02%$38.76B22.26%41.61%2.04
Lightspeed Commerce, Inc. (LSPD)4.56%$2.31B26.87%30.31%1.62
Grab Holdings Ltd. (Singapore) (GRAB)4.54%$13.90B24.38%39.66%3.50
MercadoLibre, Inc. (MELI)4.21%$80.10B42.67%46.71%4.81
Affirm Holdings, Inc. (AFRM)4.19%$8.92B51.23%84.69%7.47
Coinbase Global, Inc. (COIN)4.15%$48.78B201.18%90.74%14.57
Cielo SA (CIOXY)4.03%$2.84B2.51%35.52%2.84
PayPal Holdings, Inc. (PYPL)3.98%$67.75B10.79%39.39%2.27
SoFi Technologies, Inc. (SOFI)3.97%$7.40B49.44%60.36%1.97
Fiserv, Inc. (FI)3.90%$86.60B7.39%58.92%6.13
Toast, Inc. (TOST)3.79%$10.06B31.26%23.16%3.05
Intuit, Inc. (INTU)3.74%$158.42B11.95%82.38%11.35
Marqeta, Inc. (MQ)3.66%$2.59B-45.72%-23.30%3.29
Wise Plc (WPLCF)3.66%$10.99B77.75%N/A5.28
AvidXchange Holdings, Inc. (AVDX)3.47%$2.24B21.63%62.46%5.99
Shopify, Inc. (SHOP)3.35%$77.26B23.41%51.42%12.87
Adyen NV (ADYEY)3.33%$39.99B-78.55%49.98%15.50
PagSeguro Digital Ltd. (PAGS)3.32%$2.37B19.54%48.00%2.12
Block, Inc. (SQ)3.18%$35.71B19.38%34.43%2.25
Bill Holdings, Inc. (BILL)3.12%$5.49B18.52%78.37%5.56
StoneCo Ltd. (STNE)2.90%$3.70B7.38%28.27%5.12
Remitly Global, Inc. (RELY)2.57%$2.50B32.01%57.54%3.78
DLocal Ltd. (DLO)1.70%$1.29B34.34%34.14%N/A
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