Visa Inc. V recently introduced the Acceptance Fast Track program, under which small businesses in Asia Pacific will be able to leverage Visa’s new solutions, onboarding processes and program participants and subsequently accept digital payments swiftly and seamlessly.
The main aim of the newly launched program is to boost the digital prospects of small businesses throughout Asia Pacific. It also remains open for participation to payment facilitators and acquirers across the region. The program participants, backed by a helping hand from Visa, will make use of a comprehensive array of tools that are meant to cater to the Small and Medium Business segment for empowering small businesses to extend digital payment options.
Unveiling the Acceptance Fast Track program seems to be a well-timed move by Visa. Since small businesses account for a major portion of the total businesses of Asia Pacific and generate significant employment opportunities in the region, Visa seems to keep a keen eye on harnessing the growth potential of small businesses in the region and extending them the much-needed help. The increased usage of V’s solutions to empower small businesses to accept digital payments is expected to fetch greater revenues for one of the world’s leaders in digital payments. The primary revenue source of Visa is money movement, which is conducted with the help of its innovative technologies among consumers, merchants, financial institutions, businesses, strategic partners as well as government entities stretched across over 200 countries and territories.
Meanwhile, there are several benefits that the new program can offer to small businesses, ranging from access to Visa’s acceptance solutions, e-commerce payment capabilities to contactless payment acceptance capabilities. Digital payments might boost revenue streams and result in a growing customer base for small businesses.
Visa has always been committed to providing the necessary assistance to small businesses, ranging from technological assistance to empowering them with enhanced payment solutions. The operations of such businesses were severely hit by the coronavirus outbreak, which resulted in a dire need to integrate digitization within their business processes. Thereby, it became difficult for small businesses to cope with the changing technology demands. Encouragingly, innovative business payment solution providers like Visa might provide some respite to small businesses.
Equipping small businesses with digital prowess, in fact, proved to be the rescuer of small businesses from the pandemic-induced volatilities, as stated by 90% of small businesses backed by a digitial arm surveyed in the 2022 Visa Global Back to Business Study.
Shares of Visa have gained 3.8% in the past six months against the industry’s 9.7% decline. V currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Business Services services space include Avis Budget Group, Inc. CAR, FactSet Research Systems Inc. FDS and ICF International, Inc. ICFI. While Avis Budget Group currently flaunts a Zacks Rank #1 (Strong Buy), FactSet Research Systems and ICF International carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Avis Budget Group outpaced estimates in each of the last four quarters, the average surprise being 102.13%. The Zacks Consensus Estimate for CAR’s 2022 earnings suggests an improvement of 59.9% from the year-ago reported figure. The same for revenues also suggests year-over-year growth of 21.2%. The consensus mark for Avis Budget Group’s 2022 earnings has moved 60.4% north in the past 30 days.
FactSet Research Systems’ earnings outpaced estimates in three of the trailing four quarters and missed once, the average surprise being 6.09%. The Zacks Consensus Estimate for FDS’s 2022 earnings suggests an improvement of 16.1% from the year-ago reported figure. The same for revenues also suggests growth of 14.1%. The consensus mark for FactSet Research Systems’ 2022 earnings has moved 1.6% north in the past 60 days.
The bottom line of ICF International outpaced estimates in each of the last four quarters, the average surprise being 14.81%. The Zacks Consensus Estimate for ICFI’s 2022 earnings suggests an improvement of 8.9% from the year-ago reported figure. The same for revenues also suggests growth of 10.5% from a year ago. ICF International has a Value Score of B.
Shares of Avis Budget Group, FactSet Research Systems and ICF International have lost 41.3%,21% and 3.9%, respectively, in the past six months.
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