Yahoo Finance Euronet's (EEFT) REN Payments Platform to Aid Marker Trax
Euronet Worldwide, Inc. EEFT will license its REN payments platform to the Las-Vegas based company Marker Trax, LLC for use in the former’s cloud where it will offer transaction processing and many other features for a digital casino marker management system.
The initial versions of REN-powered Marker Trax solution are expected to be done by the end of this year. This initiative obviously enhances REN’s exposure to the gaming space where casino visitors are expected to spend $516 billion across the globe and around $150 billion in the North American market this year. REN will provide various key features, such as underwriting, patron identity verifications, settlement, reporting and many more.
Marker Trax is a regulatory-compliant and cashless option for the traditional casino market, which is expected to provide convenience for players. It comes with tools to handle marker underwriting and repayments, making sure that funds stay with the casino by tracking the marker.
Marker Trax consists of a mobile application and website that can be used by the casino patrons to apply for a marker as well as get a credit decision. Casino patrons guests will be able to save time and effort by leveraging this new solution. People can actually use it on virtual casinos and assist the sports-betting operators apart from supporting the physical hubs.
Marker Trax also got approval from the Nevada Gaming Control Board. REN will offer scalability for an expanding user base and fast speed so that users can enjoy enriched experiences.
The gaming industry is the perfect market for adopting REN as it holds plenty of prospects to grow.
In June, Euronet announced that its REN Connect software will allow the Bank of Philippine Islands (BPI) to take part in the region’s real-time payments network called Instapay.
Last December, the company's arm Euronet India Services Pvt. Ltd migrated from the Cosmos Bank in India to the modern processing technologies of Euronet’s REN Ecosystem. The company even launched an on-demand “pay as you grow” service model for boosting the bank’s card-based and real-time account-based payment methods.
By using the next-gen REN Ecosystem, the company is able to substitute the bank’s on-premise switching system with cloud-based solutions like a core processing platform. This helps catering ATM, device driving and card management services to customers.
Zacks Rank & Price Performance of Peers
Shares of this presently Zacks Rank #5 (Strong Sell) company have gained 41.3% in the past year, outperforming the industry’s growth of 13.3%. The stock should continue its rally on the back of its solid EFT, epay and Money Transfer segments as well as increased digital transactions.
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Stocks to Consider
Some better-ranked stocks in the same space are CIT Group Inc. CIT, XP Inc. XP and HoulihanLokey, Inc. HLI, earnings of which managed to deliver a trailing four-quarter surprise of 224.59%, 24.44% and 38.33%, respectively, on average. All the companies presently hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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