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Visa (V) Teams Up With i2C, Targets FinTech Growth in MENA
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Visa Inc. (V - Free Report) recently partnered with payment service provider i2c Inc. to offer payment and processing services for financial technology or FinTech companies in the Middle East and North Africa (MENA) region.
The move is expected to enable the FinTech firms in the MENA region to leverage Visa’s global network and i2c’s issuing and processing platform for advanced payments solutions. It will improve financial access in the region while driving innovation in the emerging markets. FinTech companies in the region can utilize the combined companies’ products to develop innovative payment solutions.
The partnership between Visa and i2C will likely enable their FinTech clients to increase efficiency, reduce time, and innovate products like buy now pay later, virtual cards, cryptocurrency, and others. The move comes at an opportune time when the demand for digital payments solutions is on the rise. Also, the partnership can benefit from the massive FinTech growth in the MENA region.
Visa estimates that there are 680 million unbanked persons in the MENA region and 60 million untapped merchants in the Central Europe, the Middle East and Africa (CEMEA) region. This reflects the massive growth opportunity that Visa and i2C can tap into with their combined suite of products. It is to be noted that Visa credit and debit volume in the CEMEA region accounted for more than 10% throughout 2021. The latest deal with i2C will likely further increase its footprint in the region and boost volumes.
Price Performance
Shares of Visa have increased 2.2% in the past year against the industry’s 25.7% decline.
Based in San Antonio, TX, Usio’s innovative prepaid card solutions recently grabbed a deal from the Oakland Department of Transportation. USIO’s bottom line for 2022 is expected to jump 750% year over year to 13 cents per share. USIO beat earnings estimates thrice in the last four quarters and met once, with an average surprise of 93.8%.
Headquartered in Portland, ME, WEX witnesses robust demand for its payment processing, account servicing and transaction processing services. WEX’s 2022 earnings per share are expected to rise 13.4% year over year to $2.10. WEX beat earnings estimates in each of the last four quarters, with an average of 10%.
International Money Express — headquartered in Miami, FL — should benefit from the acquisitions of La Nacional and LAN Holdings, Corp., which in turn boosted its footprint in 70 countries. The full-year 2022 bottom line of IMXI is expected to rise 12.9% year over year to $1.66 per share. In the past 30 days, Intermex has witnessed one upward estimate revision and no downward movement.
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Visa (V) Teams Up With i2C, Targets FinTech Growth in MENA
Visa Inc. (V - Free Report) recently partnered with payment service provider i2c Inc. to offer payment and processing services for financial technology or FinTech companies in the Middle East and North Africa (MENA) region.
The move is expected to enable the FinTech firms in the MENA region to leverage Visa’s global network and i2c’s issuing and processing platform for advanced payments solutions. It will improve financial access in the region while driving innovation in the emerging markets. FinTech companies in the region can utilize the combined companies’ products to develop innovative payment solutions.
The partnership between Visa and i2C will likely enable their FinTech clients to increase efficiency, reduce time, and innovate products like buy now pay later, virtual cards, cryptocurrency, and others. The move comes at an opportune time when the demand for digital payments solutions is on the rise. Also, the partnership can benefit from the massive FinTech growth in the MENA region.
Visa estimates that there are 680 million unbanked persons in the MENA region and 60 million untapped merchants in the Central Europe, the Middle East and Africa (CEMEA) region. This reflects the massive growth opportunity that Visa and i2C can tap into with their combined suite of products. It is to be noted that Visa credit and debit volume in the CEMEA region accounted for more than 10% throughout 2021. The latest deal with i2C will likely further increase its footprint in the region and boost volumes.
Price Performance
Shares of Visa have increased 2.2% in the past year against the industry’s 25.7% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Visa has a Zacks Rank #3 (Hold). Some better-ranked players in the Financial Transaction Services space include Usio, Inc. (USIO - Free Report) , WEX Inc. (WEX - Free Report) and International Money Express, Inc. (IMXI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Based in San Antonio, TX, Usio’s innovative prepaid card solutions recently grabbed a deal from the Oakland Department of Transportation. USIO’s bottom line for 2022 is expected to jump 750% year over year to 13 cents per share. USIO beat earnings estimates thrice in the last four quarters and met once, with an average surprise of 93.8%.
Headquartered in Portland, ME, WEX witnesses robust demand for its payment processing, account servicing and transaction processing services. WEX’s 2022 earnings per share are expected to rise 13.4% year over year to $2.10. WEX beat earnings estimates in each of the last four quarters, with an average of 10%.
International Money Express — headquartered in Miami, FL — should benefit from the acquisitions of La Nacional and LAN Holdings, Corp., which in turn boosted its footprint in 70 countries. The full-year 2022 bottom line of IMXI is expected to rise 12.9% year over year to $1.66 per share. In the past 30 days, Intermex has witnessed one upward estimate revision and no downward movement.