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Fidelity National (FIS) Ties Up to Enhance P2P Payments
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Fidelity National Information Services, Inc. (FIS - Free Report) recently collaborated with Neural Payments to expand the reach of enhanced peer-to-peer (P2P) payments among the former’s client base. Neural Payments solution is now available for immediate adoption by FIS' financial institution clients, including banks of all sizes and credit unions.
The partnership entails the integration of FIS’ global reach and NYCE debit network with the cutting-edge technology of Neural Payments, which in turn, aims to ease money movement capabilities in a booming digital economy.
A component of the FIS Fintech Accelerator program, Neural Payments’ solution allows bank customers to send funds to anyone, even if the recipient's institution doesn't use the same. This can be done without requiring a third-party app download or new card registration. Payments can be processed through popular mobile wallets and debit cards, with FedNow and The Clearing House RTP options available. Recipients can access their funds within seconds of the transfer.
FIS will allow its financial institution clients to incorporate Neural Payments’ white-label solution directly into their mobile banking apps, thereby eliminating the need for users to rely on third-party services to send money. Linked debit accounts will be settled in real-time within FIS clients’ existing platforms in the case of traditional closed-loop payments.
The latest platform launch is a testament to FIS’ continuous efforts to invest in innovative technologies and find solutions to advance the payments infrastructure. This brings higher revenue growth for the company. It continually invests in advancing its solutions suite through internal software development, acquisitions and equity investments that provide additional solutions to cross-sell to current clients and attract new ones. FIS also collaborates with other entities to deliver comprehensive solutions to its clients, the latest tie-up being an example.
The recent tie-up with Neural Payments can also be considered as a time opportune move on the part of FIS, since P2P applications are widely adopted and continue to grow rapidly, connecting users across different generations and enhancing digital accessibility. Neural Payments reports that more than 80% of consumers have used a P2P service, with many using it weekly. Also, a rapidly growing global P2P payments market provides the perfect opportunity for FIS to capitalize on through this partnership.
Shares of Fidelity National have gained 40% in the past year compared with the industry’s 16.7% growth. FIS currently carries a Zacks Rank #2 (Buy).
The bottom line of RCM Technologies outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 17.49%. The Zacks Consensus Estimate for RCMT’s 2024 earnings indicates an improvement of 10.4% from the year-ago reported figure. The same for revenues implies growth of 5.3% from the year-ago reported number. The consensus mark for RCMT’s earnings has moved 2.2% north in the past seven days.
EVERTEC’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 11.09%. The Zacks Consensus Estimate for EVTC’s 2024 earnings indicates an improvement of 7.8% from the year-ago reported figure. The same for revenues implies growth of 22.5% from the prior-year reading. The consensus mark for EVTC’s earnings has moved 4.8% north in the past 30 days.
The bottom line of AppLovin outpaced estimates in each of the last four quarters, the average surprise being 21.06%. The Zacks Consensus Estimate for APP’s 2024 earnings is pegged at $3.48 per share, which indicates a nearly four-fold increase from the year-ago reported figure. The same for revenues implies growth of 35.1% from the year-ago actual. The consensus mark for APP’s earnings has moved 13.7% north in the past 30 days.
The AppLovin stock has surged 127.6% in the past year. However, shares of RCM Technologies and EVERTEC have declined 0.8% and 15.9%, respectively, in the same time frame.
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Fidelity National (FIS) Ties Up to Enhance P2P Payments
Fidelity National Information Services, Inc. (FIS - Free Report) recently collaborated with Neural Payments to expand the reach of enhanced peer-to-peer (P2P) payments among the former’s client base. Neural Payments solution is now available for immediate adoption by FIS' financial institution clients, including banks of all sizes and credit unions.
The partnership entails the integration of FIS’ global reach and NYCE debit network with the cutting-edge technology of Neural Payments, which in turn, aims to ease money movement capabilities in a booming digital economy.
A component of the FIS Fintech Accelerator program, Neural Payments’ solution allows bank customers to send funds to anyone, even if the recipient's institution doesn't use the same. This can be done without requiring a third-party app download or new card registration. Payments can be processed through popular mobile wallets and debit cards, with FedNow and The Clearing House RTP options available. Recipients can access their funds within seconds of the transfer.
FIS will allow its financial institution clients to incorporate Neural Payments’ white-label solution directly into their mobile banking apps, thereby eliminating the need for users to rely on third-party services to send money. Linked debit accounts will be settled in real-time within FIS clients’ existing platforms in the case of traditional closed-loop payments.
The latest platform launch is a testament to FIS’ continuous efforts to invest in innovative technologies and find solutions to advance the payments infrastructure. This brings higher revenue growth for the company. It continually invests in advancing its solutions suite through internal software development, acquisitions and equity investments that provide additional solutions to cross-sell to current clients and attract new ones. FIS also collaborates with other entities to deliver comprehensive solutions to its clients, the latest tie-up being an example.
The recent tie-up with Neural Payments can also be considered as a time opportune move on the part of FIS, since P2P applications are widely adopted and continue to grow rapidly, connecting users across different generations and enhancing digital accessibility. Neural Payments reports that more than 80% of consumers have used a P2P service, with many using it weekly. Also, a rapidly growing global P2P payments market provides the perfect opportunity for FIS to capitalize on through this partnership.
Shares of Fidelity National have gained 40% in the past year compared with the industry’s 16.7% growth. FIS currently carries a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Other Stocks to Consider
Other top-ranked stocks in the Business Services space are RCM Technologies, Inc. (RCMT - Free Report) , EVERTEC, Inc. (EVTC - Free Report) and AppLovin Corporation (APP - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of RCM Technologies outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 17.49%. The Zacks Consensus Estimate for RCMT’s 2024 earnings indicates an improvement of 10.4% from the year-ago reported figure. The same for revenues implies growth of 5.3% from the year-ago reported number. The consensus mark for RCMT’s earnings has moved 2.2% north in the past seven days.
EVERTEC’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 11.09%. The Zacks Consensus Estimate for EVTC’s 2024 earnings indicates an improvement of 7.8% from the year-ago reported figure. The same for revenues implies growth of 22.5% from the prior-year reading. The consensus mark for EVTC’s earnings has moved 4.8% north in the past 30 days.
The bottom line of AppLovin outpaced estimates in each of the last four quarters, the average surprise being 21.06%. The Zacks Consensus Estimate for APP’s 2024 earnings is pegged at $3.48 per share, which indicates a nearly four-fold increase from the year-ago reported figure. The same for revenues implies growth of 35.1% from the year-ago actual. The consensus mark for APP’s earnings has moved 13.7% north in the past 30 days.
The AppLovin stock has surged 127.6% in the past year. However, shares of RCM Technologies and EVERTEC have declined 0.8% and 15.9%, respectively, in the same time frame.