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.
Cashless Payments Proliferate: Tech Stocks to Keep an Eye On
Read MoreHide Full Article
The fast-paced world, which was already experiencing the growing adoption of mobile wallets and online payment apps in the pre-pandemic era, has been constantly witnessing an increasing proliferation of cashless payment transactions from the onset of the coronavirus pandemic.
Intensifying fear of contracting COVID-19 along with the imposition of social-distancing and stay-at-home mandates across the world has triggered contactless transactions.
Digital wallets have become mainstream, while cash and physical debit/credit cards have taken the backseat amid the pandemic.
Further, QR code payment system has become a game-changer in the digital payment industry. A spike in payment transactions by scanning QR codes at offline stores remains noteworthy.
The trends are expected to persist with the rise of the second wave of coronavirus outbreak.
Technology companies offering cashless methods of payment, including PayPal (PYPL - Free Report) , Square (SQ - Free Report) , Alphabet’s (GOOGL - Free Report) Google, Apple (AAPL - Free Report) and Amazon (AMZN - Free Report) , are well-positioned to capitalize on the solid demand for contactless and online payment mode.
According to a report by Global Market Insights, the worldwide mobile wallet market is expected to hit $350 billion by 2026, witnessing a CAGR of 16% between 2020 and 2026.
Further, a Mordor Intelligence report indicates that the market will witness a CAGR of 22.6% between 2021 and 2026.
Changes in consumer behavior, particularly the increasing adoption of e-commerce, remain the key catalyst in driving the online payment volume. Further, the rising need for mobile Point-of-Sale and peer-to-peer payments remains a positive.
Moreover, the payment of telephone and utility bills via online mode continues to gain steam across the world.
One-Year Price Performance
Tech Stocks to Watch Amid This Upbeat Scenario
Alphabet’s division Google offers a peer-to-peer payment service and reward system through Google Pay, which is driving momentum in the digital payment space.
Further, the search giant is making strong efforts to deliver a better user experience. The company is now offering users more choice and control to manage their transaction data on Google Pay. Users will be able to personalize features and choose whether they would like to turn on controls or put them off.
Apart from this, the company is gearing up to offer checking accounts with banks this year. Users will be able to use Google Pay to apply for Plex checking and savings accounts from 11 banks.
PayPal enjoys a solid momentum in the peer-to-peer transfer on the back of its well-performing Venmo, which enables the transfer of money between family and friends via mobile devices. The company is constantly adding features to the app to make it user-friendly.
Further, this Zacks Rank #3 (Hold) company’s partnership with Mastercard will likely continue to increase the adoption rate of Venmo.
Apart from this, PayPal’s partnership with Visa, which has expanded its Instant Transfer services to the global markets, remains noteworthy. This has enabled fast domestic and cross-border digital payments.
The deal will allow family members residing in two different countries to transfer funds instantly. Also, small businesses can make and receive payments on a real-time basis.
Further, PayPal’s extended partnership with Citi to allow the latter’s institutional clients to make payments to customers’ PayPal digital wallets remains a positive.
Additionally, the launch of Pay in 4, a buy-now-pay-later installment solution, is driving the company’s momentum across merchants. Notably, the solution enables merchants to let their customers make payments for purchases between $30 and $600 in four interest-free installments over six weeks.
Square is also gaining from its peer-to-peer payment service namely Cash App, which has now become its cash cow. The company is witnessing a solid adoption of Cash App, thanks to its user-friendly interface.
Further, this Zacks Rank #3 company’s Square Installments— which enables small business clients such as hairdressers and car part sellers, among others, to offer the flexibility of payment in installments to their customers — remains noteworthy.
Customers are allowed to pay for their purchases between $250 and $10,000 in fixed monthly installments over three, six and 12 months.
Additionally, the launch of Square Appointments on Square Register is another positive. Notably, the offering of the company provides a point-of-sale solution by integrating hardware and software.
Apple is continuously gaining on the back of its well-performing digital wallet called Apple Pay. Further, the easy synchronization of Apple Pay with Apple Watch remains a major positive.
Additionally, this Zacks Rank #3 company recently added a feature that allows customers to manage their payment cards with Apple Pay.
Further, the company has allowed entry to more than 150 stadiums, ballparks, arenas and entertainment venues around the world with contactless tickets through Apple Pay. This remains a major positive.
Amazon is gaining traction on the back of its online payments processing service — Amazon Pay. The app allows users to make payments, shop, pay bills, and book flight and event tickets.
Further, the company’s strong cash-back offerings and huge e-commerce customer base are boosting the adoption rate of Amazon Pay. Amazon currently carries a Zacks Rank #3.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Image: Bigstock
Cashless Payments Proliferate: Tech Stocks to Keep an Eye On
The fast-paced world, which was already experiencing the growing adoption of mobile wallets and online payment apps in the pre-pandemic era, has been constantly witnessing an increasing proliferation of cashless payment transactions from the onset of the coronavirus pandemic.
Intensifying fear of contracting COVID-19 along with the imposition of social-distancing and stay-at-home mandates across the world has triggered contactless transactions.
Digital wallets have become mainstream, while cash and physical debit/credit cards have taken the backseat amid the pandemic.
Further, QR code payment system has become a game-changer in the digital payment industry. A spike in payment transactions by scanning QR codes at offline stores remains noteworthy.
The trends are expected to persist with the rise of the second wave of coronavirus outbreak.
Technology companies offering cashless methods of payment, including PayPal (PYPL - Free Report) , Square (SQ - Free Report) , Alphabet’s (GOOGL - Free Report) Google, Apple (AAPL - Free Report) and Amazon (AMZN - Free Report) , are well-positioned to capitalize on the solid demand for contactless and online payment mode.
According to a report by Global Market Insights, the worldwide mobile wallet market is expected to hit $350 billion by 2026, witnessing a CAGR of 16% between 2020 and 2026.
Further, a Mordor Intelligence report indicates that the market will witness a CAGR of 22.6% between 2021 and 2026.
Changes in consumer behavior, particularly the increasing adoption of e-commerce, remain the key catalyst in driving the online payment volume. Further, the rising need for mobile Point-of-Sale and peer-to-peer payments remains a positive.
Moreover, the payment of telephone and utility bills via online mode continues to gain steam across the world.
One-Year Price Performance
Tech Stocks to Watch Amid This Upbeat Scenario
Alphabet’s division Google offers a peer-to-peer payment service and reward system through Google Pay, which is driving momentum in the digital payment space.
Further, the search giant is making strong efforts to deliver a better user experience. The company is now offering users more choice and control to manage their transaction data on Google Pay. Users will be able to personalize features and choose whether they would like to turn on controls or put them off.
Apart from this, the company is gearing up to offer checking accounts with banks this year. Users will be able to use Google Pay to apply for Plex checking and savings accounts from 11 banks.
Currently, Google’s parent Alphabet carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy)stocks here.
PayPal enjoys a solid momentum in the peer-to-peer transfer on the back of its well-performing Venmo, which enables the transfer of money between family and friends via mobile devices. The company is constantly adding features to the app to make it user-friendly.
Further, this Zacks Rank #3 (Hold) company’s partnership with Mastercard will likely continue to increase the adoption rate of Venmo.
Apart from this, PayPal’s partnership with Visa, which has expanded its Instant Transfer services to the global markets, remains noteworthy. This has enabled fast domestic and cross-border digital payments.
The deal will allow family members residing in two different countries to transfer funds instantly. Also, small businesses can make and receive payments on a real-time basis.
Further, PayPal’s extended partnership with Citi to allow the latter’s institutional clients to make payments to customers’ PayPal digital wallets remains a positive.
Additionally, the launch of Pay in 4, a buy-now-pay-later installment solution, is driving the company’s momentum across merchants. Notably, the solution enables merchants to let their customers make payments for purchases between $30 and $600 in four interest-free installments over six weeks.
Square is also gaining from its peer-to-peer payment service namely Cash App, which has now become its cash cow. The company is witnessing a solid adoption of Cash App, thanks to its user-friendly interface.
Further, this Zacks Rank #3 company’s Square Installments— which enables small business clients such as hairdressers and car part sellers, among others, to offer the flexibility of payment in installments to their customers — remains noteworthy.
Customers are allowed to pay for their purchases between $250 and $10,000 in fixed monthly installments over three, six and 12 months.
Additionally, the launch of Square Appointments on Square Register is another positive. Notably, the offering of the company provides a point-of-sale solution by integrating hardware and software.
Apple is continuously gaining on the back of its well-performing digital wallet called Apple Pay. Further, the easy synchronization of Apple Pay with Apple Watch remains a major positive.
Additionally, this Zacks Rank #3 company recently added a feature that allows customers to manage their payment cards with Apple Pay.
Further, the company has allowed entry to more than 150 stadiums, ballparks, arenas and entertainment venues around the world with contactless tickets through Apple Pay. This remains a major positive.
Amazon is gaining traction on the back of its online payments processing service — Amazon Pay. The app allows users to make payments, shop, pay bills, and book flight and event tickets.
Further, the company’s strong cash-back offerings and huge e-commerce customer base are boosting the adoption rate of Amazon Pay. Amazon currently carries a Zacks Rank #3.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>