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First Data Partners With Huifu, Boosts Asia Pacific Presence
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First Data Corporation yesterday announced that it has inked a deal with Huifu Payment Ltd to offer a global e-commerce solution in the Chinese market. Huifu Payment is a PBOC (People's Bank of China) licensed third-party payment provider with a robust presence in China POS (point of sale) and online acquiring markets.
The partnership will see the integration of Huifu’s technology platform with First Data’s payment gateway. The combined technology comes with an integrated processing solution, which will enable international merchants to easily transact multiple currencies from a single platform on a real-time basis.
Huifu’s expertise (in local Chinese language and payment methods including China UnionPay, Alibaba’s (BABA - Free Report) Alipay and Wechatpay) when combined with First Data’s global footprint should attract merchants from around the world to the e-commerce market in China.
So far this year, shares of First Data have gained 52.2%, significantly outperforming the 11.6% rise of the industry it belongs to.
Partnership Likely to Boost GBS Segment
The collaboration should help First Data boost its presence in the Asia-Pacific region. The region accounts for nearly 3% of the company’s total revenues and reported solid growth in the last quarter.
Ivo Distelbrink, executive vice president and head of First Data’s Asia Pacific (APAC) region, stated “As we continue to expand across the Asia-Pacific region, we will extend coverage to new markets and collaborate with carefully selected partners to deliver the solutions that meet our clients’ ever-changing needs of the local consumer.”
The partnership will also aid performance of the Global Business Solutions (GBS) segment. The segment provides businesses of all sizes and types with a wide range of solutions such as merchant acquiring, e-commerce, mobile commerce, Clover point-of-sale technology and other business solutions.
The segment contributed the largest chunk (around 64%) to the company’s total revenues in the last reported quarter and grew 18% year over year on a reported basis, 14% on a comparable accounting basis and 8% on an organic constant currency basis.
Some better-ranked stocks in the broader Business Services sector include CRA International (CRAI - Free Report) and FTI Consulting (FCN - Free Report) . Both CRA International and FTI Consulting sport a Zacks Rank #1.
CRA International and FTI Consulting have an impressive earnings surprise history, having delivered an average four-quarter surprise of 38.6% and 58.3%, respectively.
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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First Data Partners With Huifu, Boosts Asia Pacific Presence
First Data Corporation yesterday announced that it has inked a deal with Huifu Payment Ltd to offer a global e-commerce solution in the Chinese market. Huifu Payment is a PBOC (People's Bank of China) licensed third-party payment provider with a robust presence in China POS (point of sale) and online acquiring markets.
The partnership will see the integration of Huifu’s technology platform with First Data’s payment gateway. The combined technology comes with an integrated processing solution, which will enable international merchants to easily transact multiple currencies from a single platform on a real-time basis.
Huifu’s expertise (in local Chinese language and payment methods including China UnionPay, Alibaba’s (BABA - Free Report) Alipay and Wechatpay) when combined with First Data’s global footprint should attract merchants from around the world to the e-commerce market in China.
So far this year, shares of First Data have gained 52.2%, significantly outperforming the 11.6% rise of the industry it belongs to.
Partnership Likely to Boost GBS Segment
The collaboration should help First Data boost its presence in the Asia-Pacific region. The region accounts for nearly 3% of the company’s total revenues and reported solid growth in the last quarter.
Ivo Distelbrink, executive vice president and head of First Data’s Asia Pacific (APAC) region, stated “As we continue to expand across the Asia-Pacific region, we will extend coverage to new markets and collaborate with carefully selected partners to deliver the solutions that meet our clients’ ever-changing needs of the local consumer.”
The partnership will also aid performance of the Global Business Solutions (GBS) segment. The segment provides businesses of all sizes and types with a wide range of solutions such as merchant acquiring, e-commerce, mobile commerce, Clover point-of-sale technology and other business solutions.
The segment contributed the largest chunk (around 64%) to the company’s total revenues in the last reported quarter and grew 18% year over year on a reported basis, 14% on a comparable accounting basis and 8% on an organic constant currency basis.
Zacks Rank & Stocks to Consider
Currently, First Data carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Business Services sector include CRA International (CRAI - Free Report) and FTI Consulting (FCN - Free Report) . Both CRA International and FTI Consulting sport a Zacks Rank #1.
CRA International and FTI Consulting have an impressive earnings surprise history, having delivered an average four-quarter surprise of 38.6% and 58.3%, respectively.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>