Verisk Analytics, Inc.’s VRSK G2 has entered into a strategic alliance with National Association of Boards of Pharmacy (NABP) to educate payments companies, merchants and marketplaces about pharmacy laws and standards. The broader goal is to ease the search of safe online pharmacies for customers and avoid health risks.
G2 is a provider of merchant risk management solutions. NABP is a certified non-profit association for pharmacy merchant registration. Both are members of the Alliance for Safe Online Pharmacies (ASOP).
We observe that Verisk’s shares have gained 17.5% year to date compared with 16.1% rise of the industry it belongs to.
Healthcare Merchant Certification Program
As a part of the collaboration, NABP will verify healthcare merchants through a healthcare merchant certification program. Merchants will fulfill Visa V and Mastercard MA requirements for card-not-present transactions. Also, they will be able to meet advertising criteria from Alphabet’s GOOGL Google, Snapchat, Bing, Yahoo! and Twitter through this certification.
Dan Frechtling, president, G2, stated, "This new alliance will help acquirers, payment service providers, and payment facilitators serve pharma merchants safely and compliantly." "NABP cares about the public`s health and well-being, and its verification is recognized by Visa and Mastercard," he added.
We believe that the move is an attempt by Verisk to boost its Financial services segment revenues. The performance of the segment was particularly weak in the last reported quarter. Revenues were $47.5 million, down 1.8% year over year. Currently, Verisk has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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