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Visa (V) to Build Global Technology and Product Hub in Poland

Visa Inc. V recently announced that it will open a global Technology and Product Hub in Poland to boost its footprint in Central and Eastern Europe. This will mark the first of such hubs of Visa in the region. The project is expected to leverage the country’s highly skilled IT workers.

The new Hub is likely to have 1,500 new personnel from the tech and product space. The company intends to invest to support its 24/7 development model, which facilitates innovation. It focuses on artificial intelligence and cybersecurity, which will boost its product portfolio. The new Hub will be the company’s fifth major strategic facility that will aid Europe operations.

The move signifies Visa’s efforts to invest in local talent that enables the company to serve its global client base. The company is operating in Poland since 1995 and the latest move will likely enhance its market share in the country, which is the first one to achieve 100% contactless availability.

These moves help the company to further boost its already leading position in the payments market. The company pushes technologies, including contactless and scan-to-pay, tap-to-pay, and secure remote commerce, which can be the main modes of payment in the near future. Also, it invests heavily in cybersecurity to minimize the impact of fraud and protect consumer and merchant information.

Price Performance

Shares of Visa have gained 11.3% in the year-to-date period compared with the industry’s 9.4% jump.

Zacks Investment Research
Zacks Investment Research


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Zacks Rank & Key Picks

Visa currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader business services space are Remitly Global, Inc. RELY, Paysafe Limited PSFE and Repay Holdings Corporation RPAY, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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The Zacks Consensus Estimate for Remitly Global’s 2023 earnings indicates a 7.4% increase from the prior-year reported number. Also, the consensus mark for revenues for the year indicates 36.8% growth.

The Zacks Consensus Estimate for Paysafe’s 2023 earnings is pegged at 65 cents per share, which witnessed one upward estimate revision over the past week against none in the opposite direction. PSFE’s earnings beat estimates in three of the last four quarters and met the mark once, the average surprise being 190.5%.

The Zacks Consensus Estimate for Repay Holdings’ 2023 bottom line has increased 1.3% in the past 60 days. RPAY’s earnings beat estimates in three of the last four quarters and met the mark once, the average surprise being 4.6%.

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Visa Inc. (V) : Free Stock Analysis Report

Remitly Global, Inc. (RELY) : Free Stock Analysis Report

Repay Holdings Corporation (RPAY) : Free Stock Analysis Report

Paysafe Limited (PSFE) : Free Stock Analysis Report

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