I don't think it is remotely reasonable to claim that your company is <business type A> when the bulk of its income comes from <business type B>.
That would be like companies like apple claiming to be retail companies, amazon being a warehouse company, etc. Hell many companies might be able to claim that they are janitorial businesses.
And that's exactly why this isn't as cut and dry as it seems. Fintech is definitely more tech than fin. They are just taking the big tech models, and applying them to finance. They are tech companies that happen to sell financial products. Taxing that differently than a tech company that happens to sell database products makes little sense.
You’re missing the point I was trying to make: square is arguing that they aren’t a financial services company because the majority of their employees are engineers, not accounting or sales type folk.
The equivalent would be amazon to say the majority of their employees are warehouse workers so therefore they are a warehouse company.
That’s the nonsense. What matters is how a company makes its money: Facebook and google are advertising companies, Apple is a consumer product company, amazon is a retail company, etc.