Euronet Worldwide, Inc. EEFT entered into a strategic collaboration with Visa to enhance growth of Fintech companies in the Asia Pacific region and to enable faster go-to-market for the ones looking to launch payment solutions.
Visa is a global payments technology company working to enable consumers, businesses, banks and governments use digital currency. It connects consumers, businesses, banks and governments in more than 200 countries and territories worldwide. Its technology and innovation make digital payments a reality for consumers, businesses, banks and governments. It enables payments across the globe. Visa continues to advance commerce globally, with 188.1 billion total transactions processed a year through VisaNet. With 3.3 billion cards in use, Visa is connecting people through payments all around the world.
Per this partnership, Digital Integrated Payment Cloud (DIPC) and full stack Application Programming interfaces (API) of Euronet will be used to aided Fintechs to manage the entire lifecycle of card issuing programs in digital or any other form factor. In combination with DIPC’s sandbox and development tools, the technology will create one of the most advanced and developed friendly environments for Fintechs.
The Euronet-Visa partnership will enable Fintechs to work with a single partner to issue new payment solutions across multiple markets in Asia Pacific. Fintechs will be able to connect with payment processors to deploy new solutions at speed across 12 markets in Asia Pacific, including Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand and Vietnam.
Euronet Worldwide is the world's largest processor of prepaid mobile airtime and the third-largest global money transfer company. It makes access to payments easy and cheap for global consumers. It leads global electronic transactions and payments and facilitates payments between financial institutions, retailers, service providers and consumers.
It offers ATM and POS services, prepaid mobile top-up and gift card solutions, as well as cash-based and online global money remittance and payment services through three segments, EFT, epay and Money Transfer. From ATM cash withdrawals to money transfer, Euronet has an unparalleled global network, making access to consumer funds more convenient and flexible than ever.
Shares of this Zacks Rank #3 (Hold) company have surged 54.9% year to date, outperforming its industry's growth of 24.8%.
Stocks to Consider
Some better-ranked stocks in the same space include AXA Equitable Holdings Incorporation EQH, PRA Group, Incorporation PRAA and On Deck Capital Incorporation ONDK, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AXA Equitable Holdings operates as a diversified financial services company worldwide. Its four-quarter positive surprise is 12.40% on average.
PRA Group engages in the purchase, collection and management of portfolios of non-performing loans in the Americas and Europe. Its earnings managed to beat in three of the four reported quarters, the average positive surprise being 18.07%.
On Deck Capital operates an online platform for small business lending in the United States, Canada, and Australia. It offers term loans and lines of credit. Its earnings managed to beat in two of the last four reported quarters, the average positive surprise being 8.31%.
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