CyberSource, a wholly-owned subsidiary of Visa Inc. (V - Free Report) recently joined forces with Joint Electronic Teller Services Limited ("JETCO") to establish the most comprehensive payment gateway services for residents in Hong Kong.
Alongside individual customers, businesses and merchants of Hong Kong would largely benefit from this partnership as it ensures more convenience, ease and better choice in payment solutions. The financial institutions in Hong Kong and Macau that intend to expand their merchant acquiring businesses for online merchants would also gain from the alliance as it extends the latest popular payment options such as Visa Checkout and in-app purchase..
CyberSource is an internationally renowned payment management company capitalized under the brand value of Visa. On the other hand, JETCO is an expert in providing one stop eCommerce payment solutions and has gained considerable reputation and goodwill for the same. Hence, this strategic alliance would integrate JETCO's extensive bank network and local industry expertise with CyberSource's world class payment platform to revolutionize the eCommerce industry.
JETCO’s payment gateway would provide customers greater benefits of online payment as it would accept more card types and the collaboration would result in faster payment solutions. Alongside, JETCO would be able to ensure enhanced online payment security through CyberSource's payment tokenization as well as rich fraud analytics and real-time fraud detection via CyberSource Decision Manager.
The strategic alliance would help the involved parties capitalize on the opportunities available in the booming eCommerce industry. Given that approximately 79% of the Hong Kong population has access to Internet the market is undoubtedly one of the most lucrative ones. In addition, eCommerce is rapidly becoming popular with 23% increase in mobile shopping.
VISA INC-A Price
Visa remains committed to innovate payment solutions for its customers by introducing a quick, secure and hassle-free eCommerce online payment experience. The aforesaid partnership with JETCO is in keeping with this goal of the company.
Zacks Rank and Stocks to Consider
Visa presently carries Zacks Rank #3 (Hold). The company reported positive surprises in each of the last four quarters with an average beat of 3.59%
Some better-ranked players from the Financial Transaction Services space include Equifax Inc. (EFX - Free Report) , MasterCard Inc. (MA - Free Report) and WEX Inc. (WEX - Free Report) . All of these stocks carry Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
MasterCard delivered positive earning surprise in the last four quarters with an average beat of 8.56%.
Wex surpassed expectations in the last four quarters with an average beat of 9.27%.
Equifax reported positive surprises in the last four consecutive quarters with an average beat of 4.94%.
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