Visa Inc. (V - Free Report) along with Airwallex, a leading global fintech platform, has introduced a virtual payment card named Airwallex Borderless Card. This is a good funds card meant for businesses in HongKong.
The card can be used to make instant payments in more than 140 currencies across borders. It embodies a safe, transparent and fast way of making payments for businesses to their vendors and suppliers.
These digital cards are available in different categories like for single or multiple use.
The digital cards are like physical card but in virtual form. It is created entirely online and carries all the details like a 16-digit number, card verification number and an expiry date. Compared to physical cards, these are more secure (since the card is not physical, it cannot be stolen or re-used), flexible (no need to carry in wallets) and can make seamless payments in a jiffy (real time payments).
Visa rolled out these virtual cards initially in Australia (last year) followed with the United Kingdom. This is Visa’s third roll out in about a year and a half. These cards are garnering continuous demand as businesses keep looking for modern solutions beyond mere money transactions. The use of virtual credit cards can replace outdated and cumbersome paper checks and the associated manual-process inefficiencies.
Better control of finances, optimization of spending and enhancement of security and protection come along with these cardless options.
Demand for these non-physical cards will surge as more and more businesses moved their operations online and look for a smooth payment mechanism. The e-commerce bandwagon is here to stay as more companies are expected to jump on it. Thus, demand for such cards is to shoot up going forward, given the convenience associated with the same.
Also, for the card-issuing companies, this is a cost-saving technique as the card can be generated instantly sans the usage of plastic. According to a report Virtual Cards Market is expected to grow from at $188.61 billion in 2018 and to $739.77 billion by 2025, seeing a 21.56% CAGR over the forecast period. Mastercard Inc. (MA - Free Report) , American Express Co. (AXP - Free Report) and JP Morgan Chase & Co. (JPM - Free Report) also issue virtual cards.
Visa remains at the forefront when it comes to technology. Its continuous investment in cutting edge technologies helped it retain its top position in the payment network space. The stock has gained 6.9% year to date compared with its industry’s growth of 0.5%.
Visa currently carries 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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In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Visa Inc. (V - Free Report) along with Airwallex, a leading global fintech platform, has introduced a virtual payment card named Airwallex Borderless Card. This is a good funds card meant for businesses in HongKong.
The card can be used to make instant payments in more than 140 currencies across borders. It embodies a safe, transparent and fast way of making payments for businesses to their vendors and suppliers.
These digital cards are available in different categories like for single or multiple use.
The digital cards are like physical card but in virtual form. It is created entirely online and carries all the details like a 16-digit number, card verification number and an expiry date. Compared to physical cards, these are more secure (since the card is not physical, it cannot be stolen or re-used), flexible (no need to carry in wallets) and can make seamless payments in a jiffy (real time payments).
Visa rolled out these virtual cards initially in Australia (last year) followed with the United Kingdom. This is Visa’s third roll out in about a year and a half. These cards are garnering continuous demand as businesses keep looking for modern solutions beyond mere money transactions. The use of virtual credit cards can replace outdated and cumbersome paper checks and the associated manual-process inefficiencies.
Better control of finances, optimization of spending and enhancement of security and protection come along with these cardless options.
Demand for these non-physical cards will surge as more and more businesses moved their operations online and look for a smooth payment mechanism. The e-commerce bandwagon is here to stay as more companies are expected to jump on it. Thus, demand for such cards is to shoot up going forward, given the convenience associated with the same.
Also, for the card-issuing companies, this is a cost-saving technique as the card can be generated instantly sans the usage of plastic. According to a report Virtual Cards Market is expected to grow from at $188.61 billion in 2018 and to $739.77 billion by 2025, seeing a 21.56% CAGR over the forecast period. Mastercard Inc. (MA - Free Report) , American Express Co. (AXP - Free Report) and JP Morgan Chase & Co. (JPM - Free Report) also issue virtual cards.
Visa remains at the forefront when it comes to technology. Its continuous investment in cutting edge technologies helped it retain its top position in the payment network space. The stock has gained 6.9% year to date compared with its industry’s growth of 0.5%.
Visa currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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