First Data Corporation yesterday announced the launch of two devices from its Clover family in Argentina — Clover Flex and Clover Mini. The devices will target small and medium-sized businesses.
Clover Flex is a handheld device that can be used at any place for accepting payments. It is ideal for retail, restaurant and service-based organizations. Clover Mini is a small but powerful point-of-sale terminal that helps saving counter space.
In Argentina, Clover works with two software solutions, Punto de Ventas (Includes order, inventory and fiscal printer) and Sistema de Pagos (includes employee management, customers and reports). Argentina is one of the early non-U.S. nations to receive Clover.
With the two devices, users can manage their businesses in real-time over an online backend portal, a merchant web dashboard from a smartphone, tablet or computer.
Clover’s business management functionality helps with order creation, inventory tracking, customer engagement, customizing staffing and back-office tasks. Further, Clover offers access to third-party app market allowing merchants to connect with relevant business applications.
Notably, First Data’s shares have inched up 0.4% year to date, against the 11% decline of the industry it belongs to.
Clover Expansion in Focus
The new move seems to be a part of the company’s bid to expand Clover globally. The cloud-based point-of-sale operating system is experiencing rapid growth in the United States and Europe. First Data shipped its one millionth Clover device in September, two years after shipping its 500,000th piece.
The move is expected to boost the Global Business Solutions segment, which offers Clover. This segment generated revenues of $1.38 billion in the last reported quarter, which grew 10% on a year-over-year basis.
Zacks Rank & Other Stocks to Consider
Currently, First Data carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
A few better-ranked stocks in the broader Business Services sector are Paychex, Inc (PAYX - Free Report) , WEX Inc (WEX - Free Report) and Automatic Data Processing Inc (ADP - Free Report) , each carrying a Zacks Rank #2. Long-term expected EPS (three to five years) growth rates for Paychex, WEX and Automatic Data Processing are 8.5%, 15% and 12.5%, respectively.
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