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Euronet's (EEFT) epay Takes UnionPay QR Code Payments to Europe
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Euronet Worldwide, Inc. (EEFT - Free Report) recently announced that its full-service payment provider epay launched an innovative QR code payment service with UnionPay, a major card payment network. The service was launched in Europe.
Following the deal, UnionPay card users can use QR code payments or UnionPay App in Europe. Chinese state-run financial services company UnionPay’s international business arm, UnionPay International or UPI struck the deal with EEFT’s epay for its strong distribution network.
Euronet’s epay business is supported by higher transactions, expansion of digital media products and SaaS solutions. In epay, some of the most significant product distribution expansions were enabled by mobile wallets. The segment is expected to witness low-double-digit earnings growth in 2022. The deal with UnionPay is expected to significantly increase Europe volumes in the coming days.
UnionPay’s mobile payment methods are used by over 13 million merchants from 96 countries and regions apart from Mainland China. The agreement with epay is likely to expedite growth for both companies.
epay processed more than 3 billion transactions last year. In the third quarter of 2022, transactions witnessed a 13% year-over-year increase to 915 million. The segment was aided by digital branded payments and mobile growth, and an expanding digital distribution channel.
Price Performance
Euronet shares have improved 1.7% in the past three months against the 3.8% fall of the industry.
Milwaukee, WI-based MGIC Investment is a private mortgage insurance and other products provider. The Zacks Consensus Estimate for MTG’s current year bottom line is pegged at $2.86 per share, indicating 49.7% year-over-year growth.
Headquartered in Sao Paulo, Brazil, XP is a leading financial products and services provider. The Zacks Consensus Estimate for XP’s 2022 bottom line is pegged at $1.43 per share, indicating 23.3% year-over-year growth.
Based in San Francisco, NerdWallet is a digital platform operator connecting individuals and businesses with financial products suppliers. The Zacks Consensus Estimate for NRDS’ 2022 earnings signals a 74.4% improvement from a year ago.
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Euronet's (EEFT) epay Takes UnionPay QR Code Payments to Europe
Euronet Worldwide, Inc. (EEFT - Free Report) recently announced that its full-service payment provider epay launched an innovative QR code payment service with UnionPay, a major card payment network. The service was launched in Europe.
Following the deal, UnionPay card users can use QR code payments or UnionPay App in Europe. Chinese state-run financial services company UnionPay’s international business arm, UnionPay International or UPI struck the deal with EEFT’s epay for its strong distribution network.
Euronet’s epay business is supported by higher transactions, expansion of digital media products and SaaS solutions. In epay, some of the most significant product distribution expansions were enabled by mobile wallets. The segment is expected to witness low-double-digit earnings growth in 2022. The deal with UnionPay is expected to significantly increase Europe volumes in the coming days.
UnionPay’s mobile payment methods are used by over 13 million merchants from 96 countries and regions apart from Mainland China. The agreement with epay is likely to expedite growth for both companies.
epay processed more than 3 billion transactions last year. In the third quarter of 2022, transactions witnessed a 13% year-over-year increase to 915 million. The segment was aided by digital branded payments and mobile growth, and an expanding digital distribution channel.
Price Performance
Euronet shares have improved 1.7% in the past three months against the 3.8% fall of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Euronet currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader finance space are MGIC Investment Corporation (MTG - Free Report) , XP Inc. (XP - Free Report) and NerdWallet, Inc. (NRDS - Free Report) , 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.
Milwaukee, WI-based MGIC Investment is a private mortgage insurance and other products provider. The Zacks Consensus Estimate for MTG’s current year bottom line is pegged at $2.86 per share, indicating 49.7% year-over-year growth.
Headquartered in Sao Paulo, Brazil, XP is a leading financial products and services provider. The Zacks Consensus Estimate for XP’s 2022 bottom line is pegged at $1.43 per share, indicating 23.3% year-over-year growth.
Based in San Francisco, NerdWallet is a digital platform operator connecting individuals and businesses with financial products suppliers. The Zacks Consensus Estimate for NRDS’ 2022 earnings signals a 74.4% improvement from a year ago.