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Is Visa's (V) New Card Replacement Service a Game-Changing Move?
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Visa Inc. (V - Free Report) recently announced its new Digital Emergency Card Replacement service, which quickly delivers digital card replacements via text or email to travelers, enhancing convenience and security. This service aims to improve travel experiences and issuer customer satisfaction.
Travelers can utilize the emergency service by reporting a lost card to their issuer, receiving and authenticating the digital replacement, and adding it to their digital wallet for secure access to funds. The service is necessary and comes at an opportune time because it addresses the frequent issue of lost cards while traveling, providing immediate digital replacements, which enhances security and customer convenience in an increasingly digital payment landscape.
The company stated that 74% of U.S. travelers are using digital wallets on trips. The timing coincides with the summer travel season when the demand for convenient and secure payment solutions is high. This timing ensures maximum impact and customer satisfaction during peak travel periods.
The introduction of the emergency service is likely to enhance customer satisfaction and retention, which can lead to increased transaction volumes. Additionally, it strengthens Visa's leadership position in the digital payments market, potentially attracting more issuers and users to its platform.
Visa's dedication to technological innovation cements its leadership in the evolving payments landscape. By prioritizing security and advancing digital platforms and secure remote commerce technologies, the company is well-positioned to capitalize on the significant shift toward digital transactions. As traditional payment methods decline, Visa is poised for substantial growth in emerging payment trends.
Price Performance
Shares of Visa have gained 20.4% in the past year compared with the industry’s 16.1% jump.
The Zacks Consensus Estimate for Global Payments’ 2024 earnings is currently pegged at $11.64 per share, indicating 11.7% year-over-year growth. It beat estimates in each of the past four quarters with an average surprise of 1.1%. The consensus mark for GPN’s revenues of $9.2 billion suggests a 6.4% increase from the year-ago level.
The Zacks Consensus Estimate for Paysafe’s current-year earnings is now pegged at $2.47 per share, indicating 6% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 18.3%. The consensus mark for PSFE’s revenues of $1.7 billion suggests a 6.5% increase from the year-ago level.
The Zacks Consensus Estimate for Fiserv’s 2024 earnings of $8.69 per share suggests 15.6% year-over-year growth. It beat earnings estimates thrice in the past four quarters and met once, with an average surprise of 2.3%. The consensus estimate for FI’s current year revenues is pegged at $19.3 billion, indicating a 7.2% increase from a year ago.
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Is Visa's (V) New Card Replacement Service a Game-Changing Move?
Visa Inc. (V - Free Report) recently announced its new Digital Emergency Card Replacement service, which quickly delivers digital card replacements via text or email to travelers, enhancing convenience and security. This service aims to improve travel experiences and issuer customer satisfaction.
Travelers can utilize the emergency service by reporting a lost card to their issuer, receiving and authenticating the digital replacement, and adding it to their digital wallet for secure access to funds. The service is necessary and comes at an opportune time because it addresses the frequent issue of lost cards while traveling, providing immediate digital replacements, which enhances security and customer convenience in an increasingly digital payment landscape.
The company stated that 74% of U.S. travelers are using digital wallets on trips. The timing coincides with the summer travel season when the demand for convenient and secure payment solutions is high. This timing ensures maximum impact and customer satisfaction during peak travel periods.
The introduction of the emergency service is likely to enhance customer satisfaction and retention, which can lead to increased transaction volumes. Additionally, it strengthens Visa's leadership position in the digital payments market, potentially attracting more issuers and users to its platform.
Visa's dedication to technological innovation cements its leadership in the evolving payments landscape. By prioritizing security and advancing digital platforms and secure remote commerce technologies, the company is well-positioned to capitalize on the significant shift toward digital transactions. As traditional payment methods decline, Visa is poised for substantial growth in emerging payment trends.
Price Performance
Shares of Visa have gained 20.4% in the past year compared with the industry’s 16.1% jump.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Visa currently has a Zacks Rank #3 (Hold).
Investors interested in the broader Business Services space can look at some better-ranked stocks like Global Payments Inc. (GPN - Free Report) , Paysafe Limited (PSFE - Free Report) and Fiserv, Inc. (FI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Global Payments’ 2024 earnings is currently pegged at $11.64 per share, indicating 11.7% year-over-year growth. It beat estimates in each of the past four quarters with an average surprise of 1.1%. The consensus mark for GPN’s revenues of $9.2 billion suggests a 6.4% increase from the year-ago level.
The Zacks Consensus Estimate for Paysafe’s current-year earnings is now pegged at $2.47 per share, indicating 6% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 18.3%. The consensus mark for PSFE’s revenues of $1.7 billion suggests a 6.5% increase from the year-ago level.
The Zacks Consensus Estimate for Fiserv’s 2024 earnings of $8.69 per share suggests 15.6% year-over-year growth. It beat earnings estimates thrice in the past four quarters and met once, with an average surprise of 2.3%. The consensus estimate for FI’s current year revenues is pegged at $19.3 billion, indicating a 7.2% increase from a year ago.