Yahoo Finance Visa (V) Unveils the 'Meet Visa' Initiative in Hong Kong
Visa Inc. V recently launched the “Meet Visa” campaign in Hong Kong that underlines the diverse capabilities of its network. The brand evolution began in the United States in July 2021 and is now expanding across the Asia Pacific. With this move, Visa will be easing money movement and contributing more to the future of digital commerce. The new brand identity will be visible in 200 countries and territories that Visa operates in.
Visa has been a market leader in streamlining online payments for a while with its dynamic network. V continues to facilitate physical and digital transactions, courtesy of its 3.6 billion credentials, more than 70 million merchant locations and multiple partners and powers more than $11 trillion in terms of annual volumes.
This leading financial services provider invested $9 billion in technology over the last five years to serve merchants and consumers. The revamped brand identity of Visa will help meet the evolving needs of customers as V parks money to revolutionize the payment industry with new offerings.
The latest move further strengthens the currently Zacks Rank #3 (Hold) player’s position in the market by moving the $17 trillion spent in the form of cash and checks globally to digital payments. V will also offer a range of products and solutions via collaborations with fintechs and other brands and by leveraging relationships with governments. It will also include new payment flows like cross-border payments, value-added services, etc.
The transaction services leader leaves no stone unturned when it comes to securing and easing payment options for individuals. Its investments in technology are solidifying its position in the payments market.
Visa recently announced that it completed the buyout of Currencycloud. The acquisition of the U.K.-based cross-border payments platform is expected to enrich Visa’s digital payment solutions.
The acquisition is expected to provide Visa’s consumers with innovative foreign exchange (forex) solutions for cross-border payments. It will enable V to provide transparent and flexible transactions for clients operating in multiple currencies. In addition to currency exchange services, the cloud-based platform enables financial service providers to offer multicurrency wallets and virtual account management.
V makes efforts to boost its already leading position in the payments market and minimize the impact of fraud, and protect consumer and merchant information. One of the main purviews of Visa is to ensure security of payments as the same moves from physical to digital environments.
VisaNet, Visa Token Service, Visa Direct and Visa Checkout are some of the platforms developed by V in recent years to advance its digital platform. V is also pushing technologies, including contactless and scan-to-pay, tap-to-pay and secure remote commerce, which should be the main modes of payment in the near future.
Shares of Visa have increased 5% in a year’s time against the industry’s 17.1% decline. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Other companies constantly working on digital strategy and investing in technology include Fiserv Inc. FISV, Mastercard Incorporated MA and Alliance Data Systems ADS.
Fiserv is headquartered in Brookfield, WI, and provides financial services technology solutions to more than 12,000 clients worldwide in the banking, insurance, healthcare and investment industries. Fiserv emerge as one of the world’s largest payments and financial technology providers. Fiserv announced that it has completed the acquisition of Ondot Systems, Inc., a digital experience platform for financial institutions. The acquisition enhances Fiserv's digital capabilities and strengthens its competitive position.
Mastercard is a leading global payment solutions player providing an array of services in support of credit, debit, mobile, web-based and contactless payments, and other related electronic payment programs for financial institutions and other entities. MA has been making significant progress in its digital strategy and continuously investing in technology. Some of the MA’s digital innovations are MasterPass, investment in tokenization technology with its Mastercard Digital Enablement Service (MDES), which supports contactless payments and Digital Secure Remote Payments.
Alliance Data Systems Corporation is a private-label credit-card processing firm for mid-market specialty retail stores in the U.S. ADS is investing over $100 million in digital innovation and technology enhancements and expects to continue to invest in 2022.
Shares of MA have gained 6.5% in a year’s time while the stocks of FISV and ADS have lost 4.9% and 5.2% each in the same time frame.
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