Global Payments Expands with Auto Dealer
Global Payments Inc. (GPN), a global service provider of electronic payments, inked a definitive agreement with Reynolds and Reynolds to provide point-of-sale, electronic payment facilities for automotive dealerships.
Per the agreement, Reynolds and Reynolds, a developer of automotive dealership management platforms, will integrate Global Payments’ secure payments technology into its own software.
Incorporating the payments technology across Reynolds’ dealership management system (:DMS) platforms will enable protected, cost-efficient and competent electronic payment solutions for in-store, online and mobile devices. Reynolds’ extensive client base, spread across U.S. and Canada, will henceforth utilize Global Payments’ secure technology for payment processing.
In addition to enhancement of customer experience, the collaboration is expected to improve productivity of dealership personnel and drive top-line growth for Global Payments.
This partnership extends Global Payments’ distribution channels across vertical market segments, strengthening its breadth of integrated payment processing solutions. The company’s advanced technology will now serve automotive dealerships, thus broadening its client portfolio.
Global Payments offers a comprehensive range of payment processing solutions for merchants, financial institutions, value-added resellers and multi-national corporations spread throughout North America, South America, Europe and the Asia-Pacific region. This agreement has the potential to position Global Payments solidly in the automotive space.
In Jan 2014, Global Payments acquired Payment Processing, Inc. (PayPros), a payment services provider catering to small and medium-sized enterprises, in order to leverage the wide network of PayPros’ technology-based enterprise software partners. The expected synergies from the integration translate into accelerated growth opportunities and an extended clientele.
Global Payments currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Financial Transaction Services industry that warrant a look include Fidelity National Information Services, Inc. (FIS), Xoom Corp. (XOOM) and Green Dot Corp. (GDOT). While Fidelity and Xoom sport a Zacks Rank #1 (Strong Buy), Green Dot carries a Zacks Rank #2 (Buy).
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