WIX Collaborates With Stripe to Launch Tap to Pay on Android
Wix.com WIX introduced Tap to Pay on Android in collaboration with Stripe, aimed at streamlining in-person transactions for merchants in the United States.
Wix merchants can leverage this feature to securely accept contactless payments directly through their Android devices, eliminating the need for additional hardware. The Wix Owner App transforms compatible Android devices into point-of-sale (POS) terminals, enabling merchants to conduct in-person transactions conveniently and securely.
This also offers customers a friendly and secure checkout experience by accepting various payment methods, including credit cards, debit cards, Google Pay, and digital wallets. Tap to Pay on Android is accessible to U.S.-based Wix Payments merchants using Wix's e-commerce, booking, and event solutions on compatible devices.
Wix.com Ltd. Price and Consensus
Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote
This expansion follows Wix's recent rollout of Tap to Pay for iPhone users. Tap to Pay on iPhone helps merchants to increase customer touchpoints and improve customer experience, optimizing multichannel strategy and monetizing offline sales.
In conclusion, Wix’s partnership with Stripe and the introduction of Tap to Pay on Android and iPhone helped Wix tap the growing demand for the contactless payments market. Per a report from Grand View Research, the global contactless payment market size was valued at $34.55 billion in 2021 and is expected to witness a CAGR of 19.1% from 2022 to 2030. The industry benefits from the rapid adoption of digital payment platforms and social distancing norms.
Wix is a cloud-based web development platform which offers solutions enabling businesses, organizations, professionals and individuals to develop customized websites and application platforms.
In April, the company announced that it is extending its integration with Square, a popular POS and payment processing solution. The integration aims to streamline online ordering for restaurant owners via the Wix platform by allowing them to link their Wix Restaurants site with their Square account.
Wix currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 29.6% compared with the sub-industry’s growth of 18.6% in the past year.
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Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Woodward WWD, Aspen Technology AZPN and Badger Meter BMI. Woodward presently sports a Zacks Rank #1, whereas Badger Meter and Aspen Technology currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Woodward’s fiscal 2023 earnings per share (EPS) has increased 15.9% in the past 60 days to $4.15.
WWD’s long-term earnings growth rate is 13.5%. Shares of WWD have gained 37.6% in the past year.
The Zacks Consensus Estimate for Aspen Technology’s fiscal 2024 EPS has increased 5.8% in the past 60 days to $6.58.
Aspen Technology’s long-term earnings growth rate is 17.1%. Shares of AZPN have declined 12.6% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 EPS has increased 6.3% in the past 60 days to $2.86.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 6.7%. Shares of BMI have surged 69.5% in the past year.
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