U.S. markets closed
  • S&P 500

    4,423.15
    +35.99 (+0.82%)
     
  • Dow 30

    35,116.40
    +278.24 (+0.80%)
     
  • Nasdaq

    14,761.29
    +80.23 (+0.55%)
     
  • Russell 2000

    2,223.58
    +8.09 (+0.36%)
     
  • Crude Oil

    70.23
    -0.33 (-0.47%)
     
  • Gold

    1,813.40
    -8.80 (-0.48%)
     
  • Silver

    25.59
    +0.01 (+0.06%)
     
  • EUR/USD

    1.1868
    -0.0008 (-0.07%)
     
  • 10-Yr Bond

    1.1760
    +0.0020 (+0.17%)
     
  • GBP/USD

    1.3915
    +0.0031 (+0.23%)
     
  • USD/JPY

    109.0420
    -0.2670 (-0.24%)
     
  • BTC-USD

    38,295.34
    -998.58 (-2.54%)
     
  • CMC Crypto 200

    928.35
    -15.09 (-1.60%)
     
  • FTSE 100

    7,105.72
    +24.00 (+0.34%)
     
  • Nikkei 225

    27,641.83
    -139.19 (-0.50%)
     

Global Payments' (GPN) Processing Services to Aid Banco Carrefour

·3 min read

Global Payments Inc. GPN recently unveiled that its Issuer Solutions unit Total System Services (TSYS) inked a multi-year deal with Brazil-based Banco Carrefour. However, terms of the deal have been kept under the wraps.

Shares of Global Payments gained 0.4% on Jun 4.

Banco Carrefour, the bank integrated with an enhanced financial products suite, is owned by Carrefour Brasil, a well-established retailer of Brazil. Notably, both Global Payments and Banco Carrefour have been sharing a strong bond for more than a decade. Over the course of time, they have collectively rolled out enhanced financial products, daily discounts and diversified installment purchase options.

Through the renewed relationship, TSYS will continue to offer an array of processing and support services for the credit card and digital accounts of Banco Carrefour. Further, TSYS will continue to manage Banco Carrefour’s on-us acquiring transactions.

Besides upgrading Banco Carrefour’s digital payment offerings, the recent deal is likely to be beneficial for Global Payments as well. It will bolster the company’s digital capabilities and global customer base. The move also highlights its efforts to strengthen the Latin American footprint.

As a leading worldwide payments technology company, Global Payments has always remained active in catering to the underserved areas. Case in point, TSYS had extended its helping hand to Banco Carrefour last year to roll out a prepaid and virtual card program. The move was intended to assist the latter’s unbanked customers amid the COVID-19 induced financial uncertainties in Brazil.

Moreover, the addition of TSYS in 2019 has not only empowered Global Payments with the much-needed scale but also boosted its presence in several new markets. Several contract wins and renewals have reinforced partners’ and customers’ trust on the company’s innovative capabilities. These initiatives have been providing an impetus to the Issuer Solutions segment’s revenues, which contributed 24.2% to the company’s consolidated revenues during first-quarter 2021.

Furthermore, Global Payments has been acquiring or joining forces with several organizations for capitalizing on the current prospects in the digital payments space. The company inked a deal to acquire the real estate technology company Zeto in May 2021. The move is likely to offer Global Payments with enhanced software and digital commerce portfolio, thereby strengthening its footprint across the real estate space. Its collaboration with Google Cloud in 2021 further highlights its efforts in boosting digital offerings.

Other companies offering innovative digital payment solutions across the globe include Mastercard Incorporated MA, Visa Inc. V and American Express Company AXP.

Zacks Rank & Price Performance

Shares of this Zacks Rank #3 (Hold) company have gained 2.3% in a year compared with the industry's growth of 7.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

American Express Company (AXP) : Free Stock Analysis Report

Mastercard Incorporated (MA) : Free Stock Analysis Report

Visa Inc. (V) : Free Stock Analysis Report

Global Payments Inc. (GPN) : Free Stock Analysis Report

To read this article on Zacks.com click here.