visa inc. V has expanded its program, Visa Fintech Partner Connect, which was first unveiled across Europe in November 2020. This time around, the program can be used by Visa customers in Asia-Pacific, the United States United, Central Europe, Middle East, Africa, Latin America and Caribbean markets.
Shares of Visa were flat for the past two trading days.
The recent partnership appears to be a win-win situation for Visa and its customers. Working closely with multiple fintechs will result in upgrading Visa’s capabilities. The company has also been able to penetrate more into underserved areas through the Fintech Partner Connect program. As a result, Visa’s extensive network and global presence continues to grow with the program’s latest expansion.
On the customer side, the company will offer its customers a range of enhanced technologies and service providers. Therefore, they will have access to digital tools and solutions, which would otherwise be expensive and difficult to implement if they developed themselves. Therefore, program expansion is likely to provide price discounts and lower implementation fees for participating customers.
Moreover, Visa has spared no effort to offer necessary assistance to fintechs. It is the preferred partner of fintechs, due to its cutting-edge solutions, its strong network of partners and its vast global presence.
In addition to Visa Fintech Partner Connect, Visa has established several programs to serve this purpose, including the Accelerator and Fast Track programs. The programs share the common goal of providing participating global fintechs with opportunities to deploy enhanced payment solutions and drive growth prospects.
Time and time again, Visa has made significant investments to support fintechs. The investments look timely as the global fintech market presents vast opportunities for growth. The market has benefited from growing investments in fintechs, increased internet penetration, and the use of advanced blockchain and AI technologies.
In the days to come, the emergence of a cashless economy, owing to the growing adoption of digital transactions globally, is expected to keep the market growth outlook on the rise.
Another company in space, Mastercard Incorporated MA, recently partnered with NEC Payments to help several fintechs launch the latest solutions and increase business scale.
Other companies such as Global Payments Inc. GPN and American Express Company AXP has extended its support to startups by deploying advanced software and payment solutions.
Zacks Ranking and Price Performance
Shares of Visa, with a Zacks No. 3 (Hold) ranking, gained 16.9% year-on-year against industry growth of 10%. You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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