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The Zacks Analyst Blog Highlights: PayPal, Square, Intuit, Apple and JPMorgan Chase

Zacks Equity Research

For Immediate Release

Chicago, IL – September 17, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PayPal PYPL, Square SQ, Intuit INTU, Apple AAPL and JPMorgan Chase JPM.

Here are highlights from Monday’s Analyst Blog:

Does JPMorgan’s Same-Day Deposit Put Paypal, Others in Danger?

Advancement in the digital infrastructure and increasing proliferation of a cashless economy globally are aiding the online payment sector.

Increasing smartphone usage, expanding Internet penetration and improvement in Internet speed is playing crucial role in driving demand for online payment apps.

Moreover, increasing number of mobile payment transactions has resulted in rapid adoption of mobile wallets. Additionally, quick online bank transfer services are gaining traction.

According to data from Mordor Intelligence report, global digital payment market is expected to reach $7.6 trillion by 2024 at a CAGR of 13.7%.

Tech companies like PayPal, Square, Intuit and Apple are aware of the immense opportunities in this space. These companies have been leveraging their technological expertise to compete with commercial banks and other financial institutions.

However, banking and financial services companies are making every effort to retain their prominence in the space. JPMorgan Chase’s recent initiative to introduce free same-day deposits for customers on its fintech platform, WePay, is testament to one such initiative.

How Square & PayPal are Placed?

Increasing requirement for real-time payment among merchants is leading to proliferation of instant or same day deposit services. Along with JPMorgan Chase, Square and PayPal are also making every effort to capitalize on the demand.

Notably, PayPal introduced Instant Transfer to bank in the beginning of this year, which will allow U.S. customers to transfer money to their bank accounts within 30 minutes at the cost of one percent of the total transaction.

Further, the Zacks Rank #2 (Buy) company is leveraging its partnership with JPMorgan Chase to transfer the funds to bank seamlessly. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Meanwhile, Square offers same day deposit service via Square Deposits, which provides options for deposit speed – same day, instant, and one-to-two business day. This Zacks Rank #3 (Hold) stock also charges a fee for faster deposit services.

However, JPMorgan’s WePay remains the only payment platform offering same day deposit service free of cost. This does not bode well for the Square and PayPal’s initiatives.

Additionally, JPMorgan’s domain expertise along with its access to real-time payments network and ability to process payments are likely to intensify competition.

Nevertheless, customer-friendly payment ecosystem, improving relationships with merchants and strengthening banking initiatives of Square and PayPal remain their primary strength.

Apple & Intuit’s Initiatives

Apple, which carries a Zacks Rank #3, offers instant bank transfer services. Notably, the Instant Transfer option usually takes 30 minutes to transfer funds to bank account via Apple Pay.

Meanwhile, Intuit’s QuickBooks offers quick next-day deposit service with automated clearing house (ACH) and credit card payments. This Zacks Rank #2 stock is rapidly gaining traction across subscribers on the back of its next business-day payments service. QuickBooks Online Accounting revenues improved 39.4% year over year in fourth-quarter fiscal 2019.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.


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JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
 
PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report
 
Square, Inc. (SQ) : Free Stock Analysis Report
 
Apple Inc. (AAPL) : Free Stock Analysis Report
 
Intuit Inc. (INTU) : Free Stock Analysis Report
 
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