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Visa and Wirecard to Provide New Digital Payment Solutions

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Global leader in payments Visa Inc. (V - Free Report) and Wirecard, the global innovation leader in digital financial technology have entered into agreement to provide new solutions in the field of digital financial technology.

Both companies will be utilizing their specialties to provide enhanced services to their customers. To this end, Visa’s global reach and Wirecard’s digital payment platform will come together to extend card issuance and increase the appeal of innovative digital payment methods for merchants. They also plan to provide retailers with business analytics to help them streamline and improve consumers’ purchase experience.

Wirecard will provide its technology and banking solutions as well as in-depth market expertise to provide white-label solutions such as banking to software and payment solutions, risk management, card issuing and value-added services, to FinTechs and startups to develop new business ideas.

Visa is incessantly working toward enhancing its activity in the FinTech industry. Economic and technological progress with a rising middle class, contactless technology and mobile computing are shaping commerce globally and accelerating the migration from cash to digital payments. The payments’ space is changing at lightning speed, with technology becoming the mainstay of this phenomenon.

Per Visa, Internet of Things, contactless payment technology, enabling simplified, secure and faster eCommerce experience are some of the trends defining the future of payments. For users, these digital payment modes are attractive due to convenience, efficiency and speed of transaction.

In 2017, Visa made significant progress in expanding innovations to ensure its leadership in the digital space. It expanded its global network of Visa Innovation Centers. The company is focused on investments in “push” payments, a category which has significant potential. A push payment enables a Visa accountholder to pay, send or receive money from another individual or business. The company will continue with its digital drive in 2018 and in the years ahead.

In a year’s time, the stock of Visa has gained 39% compared with industry’s gain of 36%.

Another company in the same space, Mastercard Incorporated (MA - Free Report) , is also making massive investments in technology to stay ahead in the payments’ market.

Visa carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are FleetCor Technologies, Inc. (FLT - Free Report) and WEX Inc. (WEX - Free Report) .

While WEX Inc. carries a Zacks Rank #1 (Strong Buy), FleetCor Technologies sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

WEX Inc. beat estimates in each of the four reported quarters, with an average positive surprise of 2.56%.

FleetCor Technologies beat estimates in each of the four reported quarters, with an average positive surprise of 2.94%.

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