We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CardConnect-Lavu Tie Up for Integrated Payment Solutions
Read MoreHide Full Article
Shares of First Data Corporation have fared well in a year’s time. The stock has gained 26.9%, against the industry’s decline of 2.2%.
Recently, First Data subsidiary CardConnect announced a partnership with mobile point-of-sale system for restaurants, Lavu.
The partnership involves integration of CardConnect’s platform powered by Bolt P2PE with Lavu’s mobile point-of-sale. The combined offering known as LavuPay uses advanced payment devices featuring PCI-Validated Point-to-Point Encryption (P2PE) and tokenization to provide users secure payment processing as well as advanced data breach protection.
Aimed at streamlining payment processing for restaurants, LavuPay is a single source solution built on developer-friendly APIs and equipped with contactless as well as mobile payment acceptance capabilities.
Rob Nathan, executive vice president, CardConnect, stated, “The opportunity to work closely with Lavu is one we’re excited about. Together, we’re pairing the best payment and restaurant management solutions with unparalleled customer service to drive maximum value for our customers.”
Our Take
We believe that the collaboration will help First Data boost the Global Business Solutions segment, which includes debit and credit card transaction fees, fees paid for providing processing, loyalty and software services as well as sales and leases of point-of-sale devices.
Performance in the segment was particularly strong in the last reported quarter with revenues of $1.45 billion, which grew 18% year over year on a reported basis, 14% on a comparable accounting basis and 8% on an organic constant-currency basis.
The long-term expected EPS (three to five years) growth rate for ICF International, WEX and Paychex is 10%, 15%, and 8.4%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
CardConnect-Lavu Tie Up for Integrated Payment Solutions
Shares of First Data Corporation have fared well in a year’s time. The stock has gained 26.9%, against the industry’s decline of 2.2%.
Recently, First Data subsidiary CardConnect announced a partnership with mobile point-of-sale system for restaurants, Lavu.
The partnership involves integration of CardConnect’s platform powered by Bolt P2PE with Lavu’s mobile point-of-sale. The combined offering known as LavuPay uses advanced payment devices featuring PCI-Validated Point-to-Point Encryption (P2PE) and tokenization to provide users secure payment processing as well as advanced data breach protection.
Aimed at streamlining payment processing for restaurants, LavuPay is a single source solution built on developer-friendly APIs and equipped with contactless as well as mobile payment acceptance capabilities.
Rob Nathan, executive vice president, CardConnect, stated, “The opportunity to work closely with Lavu is one we’re excited about. Together, we’re pairing the best payment and restaurant management solutions with unparalleled customer service to drive maximum value for our customers.”
Our Take
We believe that the collaboration will help First Data boost the Global Business Solutions segment, which includes debit and credit card transaction fees, fees paid for providing processing, loyalty and software services as well as sales and leases of point-of-sale devices.
Performance in the segment was particularly strong in the last reported quarter with revenues of $1.45 billion, which grew 18% year over year on a reported basis, 14% on a comparable accounting basis and 8% on an organic constant-currency basis.
Zacks Rank & Key Picks
Currently, First Data carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Business Services Sector include ICF International, Inc. (ICFI - Free Report) , WEX Inc. (WEX - Free Report) and Paychex, Inc. (PAYX - Free Report) , each carrying a Zacks Rank #2 (Buy).
The long-term expected EPS (three to five years) growth rate for ICF International, WEX and Paychex is 10%, 15%, and 8.4%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>