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Euronet's (EEFT) Ren Platform to Aid BNC's Digitization Efforts
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Euronet Worldwide, Inc. (EEFT - Free Report) announced that its Ren Payments Platform is expected to work as the foundational technology for Indonesian digital bank Bank Neo Commerce or BNC’s digital payments transformation plan. The agreement highlights the technological prowess of EEFT, a leading financial technology solutions provider.
Euronet’s Ren Payments Platform is likely to make BNC’s digital payments safer and faster, enhancing the experience for customers. The deal will enable EEFT to provide solutions for a range of BNC’s payments services, incorporating transactions through cards and accounts. It is likely to boost Ren Payments Platform’s use in the long term.
Over the past five years, Indonesian retail digital payments surged 500% to $72 billion. It is expected to further increase 60-80% in the next four or five years. Hence, the strategic alliance with BNC will likely boost traffic to the Ren Payments Platform. More transactions are likely to drive top-line growth for Euronet.
BNC had 18.4 million of total clients as of June 2022, along with active users of up to 3 million per month. By the end of this year, the bank is expected to add 15 million clients, marking significant growth in its customer base. The strategic alliance with EEFT is expected to accelerate its business momentum.
Working in different industries around the globe, the Ren Payments Platform processes billions of transactions for EEFT every year. The latest deal is expected to boost its footprint in the high-growth Asia-Pacific region. Its geographic and product-diverse business is expected to play a crucial role in generating growth, going ahead.
Price Performance
Euronet shares have improved 7.4% in the past three months against the 1.6% 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 that reported a year ago.
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Euronet's (EEFT) Ren Platform to Aid BNC's Digitization Efforts
Euronet Worldwide, Inc. (EEFT - Free Report) announced that its Ren Payments Platform is expected to work as the foundational technology for Indonesian digital bank Bank Neo Commerce or BNC’s digital payments transformation plan. The agreement highlights the technological prowess of EEFT, a leading financial technology solutions provider.
Euronet’s Ren Payments Platform is likely to make BNC’s digital payments safer and faster, enhancing the experience for customers. The deal will enable EEFT to provide solutions for a range of BNC’s payments services, incorporating transactions through cards and accounts. It is likely to boost Ren Payments Platform’s use in the long term.
Over the past five years, Indonesian retail digital payments surged 500% to $72 billion. It is expected to further increase 60-80% in the next four or five years. Hence, the strategic alliance with BNC will likely boost traffic to the Ren Payments Platform. More transactions are likely to drive top-line growth for Euronet.
BNC had 18.4 million of total clients as of June 2022, along with active users of up to 3 million per month. By the end of this year, the bank is expected to add 15 million clients, marking significant growth in its customer base. The strategic alliance with EEFT is expected to accelerate its business momentum.
Working in different industries around the globe, the Ren Payments Platform processes billions of transactions for EEFT every year. The latest deal is expected to boost its footprint in the high-growth Asia-Pacific region. Its geographic and product-diverse business is expected to play a crucial role in generating growth, going ahead.
Price Performance
Euronet shares have improved 7.4% in the past three months against the 1.6% 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 that reported a year ago.