Visa (V) Boosts Conferma Pay Alliance for 4 Years: Here's Why
Visa Inc. V recently extended its partnership with Conferma Pay for four years to boost Visa Commercial Pay payment offerings. The strategic collaboration is aimed at enhancing the suite of B2B payment solutions, which will replace outdated manual processes and advance cash flow for businesses.
Visa Commercial Pay offers Visa Commercial Pay Mobile app, Visa Commercial Pay B2B and Visa Commercial Pay Travel to financial institutions, as well as their corporate clients to move toward automated payment processes from traditional methods. The expansion of the partnership is likely to enable the companies to enhance their offerings and reach huge markets in Asia, Latin America and the Middle East.
The move is expected to channel additional investments to further development of the suite of B2B payment solutions. It is also likely to provide better control and security and reduce the risk of fraud for their corporate customers. The move can eliminate the barriers to a more digitized payments environment while accelerating the growth of virtual payments products.
The move comes at an opportune time when the global travel market is continuing to witness growth. Visa Commercial Pay’s focus on digital payment solutions in the travel sector is likely to position it for increasing profits in the coming days. The move is expected to boost its footprint in expanding markets, positioning the partners for long-term growth.
Visa continues to gain from cross-border volumes and higher processed transactions. On a constant-dollar basis, its cross-border volume in third-quarter fiscal 2023 climbed 17% year over year. Visa’s payments volume grew 9% year over year during this time, backed by strength seen in Central Europe, Middle East and Africa and Latin America, and the Caribbean regions.
Price Performance
Shares of Visa have gained 13.7% in the past year compared with the industry’s 3.3% jump.
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Zacks Rank & Key Picks
Visa currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Business Services space are Paysafe Limited PSFE, FirstCash Holdings, Inc. FCFS and PagSeguro Digital Ltd. PAGS. While Paysafe currently sports a Zacks Rank #1 (Strong Buy), FirstCash and PagSeguro carry a Zacks Rank #2 (Buy), each, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Paysafe’s current year bottom line suggests 1.3% year-over-year growth. Headquartered in London, PSFE beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 190.5%.
The Zacks Consensus Estimate for FirstCash’s current year earnings indicates a 6.4% year-over-year increase. Fort Worth, TX-based FCFS beat earnings estimates in all the past four quarters, with an average surprise of 7.3%.
The Zacks Consensus Estimate for PagSeguro’s current year bottom line suggests 12% year-over-year growth. Based in Sao Paulo, Brazil, PAGS beat earnings estimates in all the past four quarters, with an average surprise of 36.7%.
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Visa Inc. (V) : Free Stock Analysis Report
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