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WIX Partners With Stripe to Launch Tap to Pay on iPhone
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Wix.com (WIX - Free Report) has announced an extension of its partnership with Stripe, a leading online payment processing platform, to introduce Tap to Pay on iPhone to U.S.-based Wix merchants.
The new feature allows Wix merchants to accept contactless payments directly from their iPhones without additional hardware. Merchants can utilize the Wix Owner App and a compatible iPhone to process contactless payments through Wix using a variety of digital wallets, such as Apple Pay, contactless credit or debit cards and more.
The above-mentioned secure and trusted payment method provides Wix merchants with more flexibility to grow their business and build upon the company’s diversified product offerings. Tap to Pay on iPhone also helps merchants to increase customer touchpoints and improve customer experience, optimizing multichannel strategy and monetizing offline sales.
This new feature expands Wix's broader Point of Sale (POS) offering, which already provides multiple POS solutions for users for in-person transactions. Tap to Pay on iPhone is a welcomed addition to the Wix platform, offering Wix merchants an accessible and easy way to streamline the payment transaction process and accept payments from anywhere.
In conclusion, Wix’s partnership with Stripe and the introduction of Tap to Pay on iPhone helps Wix to tap the growing demand for the contactless payments market. Per a report from Grand View Research, the global contactless payment market size was valued at $34.55 billion in 2021 and is expected to witness a CAGR of 19.1% from 2022 to 2030. The industry benefits from the rapid adoption of digital payment platforms and social distancing norms.
Wix is a cloud-based web development platform which offers solutions enabling businesses, organizations, professionals and individuals to develop customized websites and application platforms.
The company recently reported non-GAAP earnings of 61 cents per share for fourth-quarter 2022, exceeding the Zacks Consensus Estimate of 8 cents. The company had incurred a loss of 34 cents per share in the previous-year quarter.
Total revenues increased 6% year over year to $355 million and beat the Zacks Consensus Estimate of $351.7 million. On a constant-currency basis, total revenues were $361.4 million, up 8% year over year.
Wix.com currently carries a Zacks Rank #2 (Buy). Shares of the company have gained 15.8% against the sub-industry’s decline of 14.2% in the past year.
The Zacks Consensus Estimate for Arista Networks 2023 earnings is pegged at $5.79 per share, rising 11.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 23.1% in the past year.
The Zacks Consensus Estimate for Perion’s 2023 earnings is pegged at $2.69 per share, rising 16% in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.
Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have increased 66% in the past year.
The Zacks Consensus Estimate for Pegasystems 2023 earnings is pegged at $1.31 per share, rising 111.3% in the past 60 days.
Pegasystems earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of the company have declined 40.8% in the past year.
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WIX Partners With Stripe to Launch Tap to Pay on iPhone
Wix.com (WIX - Free Report) has announced an extension of its partnership with Stripe, a leading online payment processing platform, to introduce Tap to Pay on iPhone to U.S.-based Wix merchants.
The new feature allows Wix merchants to accept contactless payments directly from their iPhones without additional hardware. Merchants can utilize the Wix Owner App and a compatible iPhone to process contactless payments through Wix using a variety of digital wallets, such as Apple Pay, contactless credit or debit cards and more.
The above-mentioned secure and trusted payment method provides Wix merchants with more flexibility to grow their business and build upon the company’s diversified product offerings. Tap to Pay on iPhone also helps merchants to increase customer touchpoints and improve customer experience, optimizing multichannel strategy and monetizing offline sales.
Wix.com Ltd. Price and Consensus
Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote
This new feature expands Wix's broader Point of Sale (POS) offering, which already provides multiple POS solutions for users for in-person transactions. Tap to Pay on iPhone is a welcomed addition to the Wix platform, offering Wix merchants an accessible and easy way to streamline the payment transaction process and accept payments from anywhere.
In conclusion, Wix’s partnership with Stripe and the introduction of Tap to Pay on iPhone helps Wix to tap the growing demand for the contactless payments market. Per a report from Grand View Research, the global contactless payment market size was valued at $34.55 billion in 2021 and is expected to witness a CAGR of 19.1% from 2022 to 2030. The industry benefits from the rapid adoption of digital payment platforms and social distancing norms.
Wix is a cloud-based web development platform which offers solutions enabling businesses, organizations, professionals and individuals to develop customized websites and application platforms.
The company recently reported non-GAAP earnings of 61 cents per share for fourth-quarter 2022, exceeding the Zacks Consensus Estimate of 8 cents. The company had incurred a loss of 34 cents per share in the previous-year quarter.
Total revenues increased 6% year over year to $355 million and beat the Zacks Consensus Estimate of $351.7 million. On a constant-currency basis, total revenues were $361.4 million, up 8% year over year.
Wix.com currently carries a Zacks Rank #2 (Buy). Shares of the company have gained 15.8% against the sub-industry’s decline of 14.2% in the past year.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Arista Networks (ANET - Free Report) , Perion Network (PERI - Free Report) and Pegasystems (PEGA - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks 2023 earnings is pegged at $5.79 per share, rising 11.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 23.1% in the past year.
The Zacks Consensus Estimate for Perion’s 2023 earnings is pegged at $2.69 per share, rising 16% in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.
Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have increased 66% in the past year.
The Zacks Consensus Estimate for Pegasystems 2023 earnings is pegged at $1.31 per share, rising 111.3% in the past 60 days.
Pegasystems earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of the company have declined 40.8% in the past year.