Euronet's Unit Launches Monthly Billing Service For AppleCare

Euronet Worldwide, Inc.’s (NASDAQ:EEFT) division epay introduced a monthly recurring billing solution for buying AppleCare products from a primary US retailer.

With this new epay service, customers are now able to purchase AppleCare+ coverage for Apple (NASDAQ:AAPL) iPhone, iPad and Watch devices at pocket-friendly monthly rates. The amount is billed recurrently to make the transaction process more convenient for customers.

epay aims at enabling customers to buy AppleCare+ coverage at low monthly prices by making this payment service readily accessible to Apple and epay authorized retailers.

Customers can now enjoy this recurring billing service through epay’s global processing platform and accessibility through its Digital Integrated Payments Cloud.

Segmental Prospects

epay is a leading full-service provider when it comes to payment processing and prepaid solutions. In 2018, the unit processed 1.15 billion transactions.

The segment has been successfully contributing to the parent company’s top line on the back of higher transactions, expansion of digital media products and SaaS solutions. In the first nine months of 2019, epay segment accounted for around 26% of the company's total revenue stream.

The segment operates through a network of nearly 700,000 point of sale (POS) terminals across 51 countries providing electronic processing of digital media and prepaid mobile airtime top-up services. It provides a range of gift cards, business incentives and payment solutions.

This epay segment is well-poised for growth owing to better transactions, consistent digital media extension, wallet-driven mobile top-up transactions, tie-ups with significant giants like Google (NASDAQ:GOOGL) Pay, etc.

Shares of this Zacks Rank #3 (Hold) company have soared 54% in a year's time, outperforming its industry's growth of 16.8%.

Stocks to Consider

Investors interested in the finance sector might consider better-ranked stocks like FleetCor Technologies, Inc. (NYSE:FLT) , AXA Equitable Holdings, Inc. (NYSE:EQH) and Global Payments Inc. (NYSE:GPN) .

FleetCor Technologies offers commercial payment solutions in North America, Latin America, Europe and Australasia. This Zacks Rank #2 (Buy) stock delivered a positive earnings surprise of 2.1% over the preceding four quarters. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

AXA Equitable Holdings works as a diversified financial services entity. The company’s earnings beat estimates in the trailing four quarters by 2.4%, on average. It holds a Zacks Rank of 2.

Global Payments provides payment technology and software solutions for card, electronic, check and digital-based payments. This Zacks #2 Ranked company’s earnings topped estimates in the last four quarters by 2.4%, on average.

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