Visa Partners with CoinZoom to Enable Cryptocurrency Payments

Visa (V) and CoinZoom have joined forces to make it easy for people to spend cryptocurrencies at more than 53 million locations. CoinZoom Visa cardholders can earn between 1% and Read More... The post Visa Partners with CoinZoom to Enable Cryptocurrency Payments appeared first on TipRanks Financial Blog.

Visa Partners with CoinZoom to Enable Cryptocurrency Payments

Visa () and CoinZoom have joined forces to make it easy for people to spend cryptocurrencies at more than 53 million locations. CoinZoom Visa cardholders can earn between 1% and 5% in card rewards for every purchase that they make.

CoinZoom Visa cardholders will have to select the cryptocurrency they want to use on the CoinZoom App. In return, Visa and CoinZoom will convert their crypto holdings into a currency accepted by the merchant.

Consumers' rewards for using the CoinZoom Visa Card will depend on the number of ZOOM tokens in their accounts. Trading fee discounts are also on offer when placing trades on the exchange for people who maintain the required number of ZOOM tokens.

While the CoinZoom Visa card is currently only available to U.S. customers, there are plans to make it available globally. ()

Mizuho Securities analyst believes Fiscal Q2, ended March 30, marks a watershed moment for Visa given accelerating U.S. payment volumes and the unfolding crypto strategy. U.S. payment volumes were up 29% in April vs. 2019 levels.

“Is there more upside coming? We say yes, as F3Q's revenue guide looks overly conservative. It assumes: higher incentives, a significant deceleration in two-year stack vs. 2019, and flat Q/Q growth vs. normal trends. We are higher at +23% vs. guide of high-teens, which we view as likely still conservative,” Dolev wrote in a research note to investors.

Dolev has since reiterated a Buy rating on Visa. The analyst has upped the price target to $275 from $250, implying 21.18% upside potential to current levels.

Consensus among analysts on Wall Street is a Strong Buy based on 18 Buy and 3 Hold ratings. The average analyst implies 17.93% upside potential to current levels.

V scores a 6 out of 10 on TipRanks’ rating system suggesting its performance is likely to align with market expectations.

Related News:
Marathon Petroleum Sells Speedway, Plans $10B Stock Buyback
Alibaba Reports First-Ever Loss Since IPO; Stock Falls 6%
Google Fined €102M in Italy for Anti-Competitive Behavior

The post Visa Partners with CoinZoom to Enable Cryptocurrency Payments appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

What's Your Reaction?

like
0
dislike
0
love
0
funny
0
angry
0
sad
0
wow
0

Next Article

Oracle Wins Cloud Contract from Dish’s 5G Network Project

Oracle (ORCL) has secured a cloud computing contract with Dish Wireless, the unit of DISH Network (DISH) focused on mobile services. Oracle sells business software and competes for cloud market Read More... The post Oracle Wins Cloud Contract from Dish’s 5G Network Project appeared first on TipRanks Financial Blog.

Oracle Wins Cloud Contract from Dish’s 5G Network Project

Oracle () has secured a cloud computing contract with Dish Wireless, the unit of DISH Network () focused on mobile services. Oracle sells business software and competes for cloud market share with Amazon (), Microsoft (), and Alphabet’s () Google.

Dish is building a cloud-based 5G network as it works to expand its wireless business and diversify outside its legacy satellite pay-TV market. It has selected Oracle Cloud to provide the service-based architecture for the 5G network. 

“Oracle’s capabilities will essentially serve as the control tower of our network core, enabling our customers to consume software on demand,” said Marc Rouanne, chief network officer at Dish Wireless.

The financial terms of the deal were not revealed, but it gives Oracle an important role in Dish’s 5G network build-out project. 

In addition to the Dish Wireless contract, Oracle also announced teaming up with Oxford University in an arrangement that involves using its cloud resources to fight the COVID-19 pandemic. The goal is to speed up genetic analysis of the coronavirus to help identify variants quickly. The outbreak of new COVID-19 strains is frustrating the efforts to bring the pandemic to an end. ()

On April 23, Wolfe Research analyst initiated coverage on Oracle stock with a Hold rating and a $75 price target. Zukin’s price target points to 4.93% downside potential. The analyst observed that Oracle’s business has not been growing well lately and needs to improve for the stock to rise.

“We ultimately believe ORCL needs to show mid-single digit growth for shares to meaningfully re-rate and outperform other software stocks over a multi-year horizon,” noted Zukin.

Consensus among analysts on Wall Street is a Moderate Buy based on 8 Buy and 14 Hold ratings. The average analyst implies 5.67% downside potential to current levels.

ORCL scores an 8 out of 10 on TipRanks’ rating system, indicating the stock is likely to outperform the market.

Related News:
Visa Partners with CoinZoom to Enable Cryptocurrency Payments
General Mills to Snap up Tyson Food’s Pet Treats Business for $1.2B
DoorDash Reports Strong Q1 Results; Stock Soars 21.68%

The post Oracle Wins Cloud Contract from Dish’s 5G Network Project appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.