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Visa's (V) GoHenry Partnership Crucial for Long-term Growth
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Visa Inc. (V - Free Report) announced that it secured a global partnership with the financial education app, GoHenry. The seven-year partnership will enable Visa to work as the exclusive global network partner for the education app’s cards in the United States, the U.K. and Europe.
Visa and GoHenry worked together in the U.K. for a decade and the latest deal will allow the latter to expand its operations, boosting geographical diversity. The partnership will likely strengthen its foothold in youth finance, with a focus on the 6-18-year age group.
The partnership is likely to enable GoHenry to streamline operations, following the Pixpay acquisition. This is expected to rapidly grow GoHenry’s customer base, which has more than two million members. GoHenry’s prepaid cards help youth to learn about money and spending responsibly. The latest deal will allow parents to load funds into their children’s accounts from Visa debit cards.
The latest deal is expected to bring more transaction volumes for Visa and boost its network usage. It will likely help the company reach the youth demographic at an early stage and educate them regarding financial tools and aspects of money. The move is expected to be a key long-term growth driver for V. Also, transaction volumes from the young members will likely jump in the future when they join the workforce and start earning.
Price Performance
Shares of Visa have improved 7.9% in the past year against the industry’s 11.6% decline.
Headquartered in Chicago, OppFi operates a financial technology platform facilitating lending products’ sales. The Zacks Consensus Estimate for OPFI’s 2022 bottom line is pegged at 2 cents per share. The consensus mark for current-year revenues indicates a 26.3% year-over-year rise.
Based in Henderson, NV, PaySign offers prepaid card products and processing services. The Zacks Consensus Estimate for PAYS’ 2022 earnings indicates a 340% year-over-year surge.
Morehead, KY-based AppHarvest works as an applied agricultural technology firm. The Zacks Consensus Estimate for APPH’s 2022 bottom line indicates a 13.9% year-over-year improvement.
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Visa's (V) GoHenry Partnership Crucial for Long-term Growth
Visa Inc. (V - Free Report) announced that it secured a global partnership with the financial education app, GoHenry. The seven-year partnership will enable Visa to work as the exclusive global network partner for the education app’s cards in the United States, the U.K. and Europe.
Visa and GoHenry worked together in the U.K. for a decade and the latest deal will allow the latter to expand its operations, boosting geographical diversity. The partnership will likely strengthen its foothold in youth finance, with a focus on the 6-18-year age group.
The partnership is likely to enable GoHenry to streamline operations, following the Pixpay acquisition. This is expected to rapidly grow GoHenry’s customer base, which has more than two million members. GoHenry’s prepaid cards help youth to learn about money and spending responsibly. The latest deal will allow parents to load funds into their children’s accounts from Visa debit cards.
The latest deal is expected to bring more transaction volumes for Visa and boost its network usage. It will likely help the company reach the youth demographic at an early stage and educate them regarding financial tools and aspects of money. The move is expected to be a key long-term growth driver for V. Also, transaction volumes from the young members will likely jump in the future when they join the workforce and start earning.
Price Performance
Shares of Visa have improved 7.9% in the past year against the industry’s 11.6% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Visa currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Business Services space are OppFi Inc. (OPFI - Free Report) , PaySign, Inc. (PAYS - Free Report) and AppHarvest, Inc. , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Headquartered in Chicago, OppFi operates a financial technology platform facilitating lending products’ sales. The Zacks Consensus Estimate for OPFI’s 2022 bottom line is pegged at 2 cents per share. The consensus mark for current-year revenues indicates a 26.3% year-over-year rise.
Based in Henderson, NV, PaySign offers prepaid card products and processing services. The Zacks Consensus Estimate for PAYS’ 2022 earnings indicates a 340% year-over-year surge.
Morehead, KY-based AppHarvest works as an applied agricultural technology firm. The Zacks Consensus Estimate for APPH’s 2022 bottom line indicates a 13.9% year-over-year improvement.