Visa Unveils Major Upgrades to SavingsEdge for Small Business Growth: Here's What's New

Anusuya Lahiri

13 June 2024 at 9:44 am·3-min read

Visa Unveils Major Upgrades to SavingsEdge for Small Business Growth: Here's What's New

Visa Inc (NYSE:V) has relaunched its Visa SavingsEdge program, aiming to offer better value to small businesses (SMBs) in the United States and Canada.

For over a decade, Visa SavingsEdge has provided eligible Small Business cardholders with savings, tools, and resources to support their growth, the company said in its press release.

The latest enhancements introduce a dynamic platform with new offerings and features to facilitate smarter spending and saving.

Also Read: Mastercard Looks To Fight Cyber Threats, All You Need To Know

The Visa SavingsEdge platform includes a refreshed website with enhanced features and functionality, hundreds of additional merchant offers through Instant Coupons and Cashback Offers, and real-time notifications for cardholders earning cashback on qualifying transactions. A cashback tracker also allows cardholders to monitor their savings through the program.

In May, Visa launched facial recognition payments like Apple Inc’s (NASDAQ:AAPL) Apple Pay likely to work across all browsers and mobile devices.

Analysts projected a $255 trillion opportunity for companies like Visa and Mastercard Inc (NYSE:MA) supported by their significant tech investments, including generative AI.

Visa stock gained over 21% in the last 12 months. Investors can gain exposure to the stock via iShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).

Visa Stock Prediction For 2024

Visa (NYSE:V)’s revenue growth in FY23 was 11.41%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company’s future prospects.

Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 5.33%, while PPI recently came in at -0.2%, growing 2.2% from last year. The unemployment rate was most recently reported as 4.0%.

An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Visa stock. For real time economic data and breaking market updates, check out Benzinga Pro. Try it for free.

How does this stack up against Visa's peers?

Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. Visa operates in the Financials sector. The stock has experienced average annual growth of 4.95% compared to the -18.7% average of its peer companies. This is below the broader sector movement of Visa.

Price Action: V shares are trading higher by 0.19% at $270.87 at the last check on Thursday.

Image from Shutterstock

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This article Visa Unveils Major Upgrades to SavingsEdge for Small Business Growth: Here's What's New originally appeared on Benzinga.com

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Bank of England set to hold interest rates despite hitting 2% inflation target

Visa Unveils Major Upgrades to SavingsEdge for Small Business Growth: Here's What's New

Visa Stock Prediction For 2024

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