Yahoo Finance Visa (V) & Oxfam America Collaborate for B-READY Project
Visa Inc. V recently teamed up with Oxfam America to serve as a remittance partner in the Philippines, Columbia, Puerto Rico and Kenya. Visa will aid Oxfam America in scaling the Building Resilient, Adaptive and Disaster-Ready Communities (“B-READY”) project by facilitating real-time money transfer and relief payments to people in the disaster-prone regions.
This partnership will result in the creation of a payment solution framework based on mobile to promote the digitization of relief payments to people, helping them protect their assets before a disaster strikes. B-READY uses community inputs coupled with parametric forecasting to assist people before a disaster strikes. This move bodes well for Visa, as the adoption of Visa Direct and Visa Government Prepaid will increase its transaction volumes and expand its geographical footprint.
Per a climate related World Meteorological Organization report, from 1970 to 2019, half of all disasters and 74% of economic loss on a global front were due to climate, weather and water hazards. Inaction will put 100.7 million more people into poverty by 2030 globally compared with 2020. Visa's involvement in disaster preparedness and recovery efforts positions the company as a partner in addressing global challenges, contributing to positive brand perception. Moreover, serving more people will lead to financial inclusion and catering to the underserved markets in the world.
Visa and Oxfam America have a history of collaborating to innovate for humanitarian causes, promoting digital payments. Visa is presented with a unique opportunity to leverage its technological capabilities to help with rebuilding devastated economies, cater to the underserved population, and promote financial literacy.
Zacks Rank and Price Performance
Visa currently carries a Zacks Rank #3 (Hold).
The stock has gained 11.5% in the past six months compared with the industry’s 9.1% growth.
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Stocks to Consider
Some better-ranked stocks in the broader Business Services space are FirstCash Holdings, Inc. FCFS, OppFi Inc. OPFI and Shift4 Payments, Inc. FOUR. Each of these companies presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FirstCash’s current-year earnings indicates a 13.1% year-over-year increase. Fort Worth, TX-based FCFS beat earnings estimates in all the past four quarters, the average surprise being 7.9%.
The Zacks Consensus Estimate for OppFi’s 2023 top line implies year-over-year growth of 12.5%. Headquartered in Chicago, OPFI beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 383.3%.
The Zacks Consensus Estimate for Shift4 Payments’ current-year bottom line implies a year-over-year increase of 110.1%. Headquartered in Allentown, FOUR beat earnings estimates in each of the past four quarters, an average surprise being 25%.
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Visa Inc. (V) : Free Stock Analysis Report
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OppFi Inc. (OPFI) : Free Stock Analysis Report
