Global Payments (GPN) To Provide Samsung Pay In Hong Kong

Global Payments Inc. (NYSE:GPN) has announced that it will provide its merchants the facility to pay via Samsung Pay in Hong Kong. Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics (KS:005930) that lets users make payments using compatible phones and other devices produced by it.

Global Payments is a leading worldwide provider of innovative payment technology services. Year to date, the company’s shares have returned 33.5%, significantly outpacing the 16.9% gain by the Zacks categorized Business Service industry. The outperformance reflects the company’s strong growth, efforts to deleverage its balance sheet and value accretion from the acquisitions made over the past three years.

Coming back to the news, Samsung Pay makes online payment experience simpler, faster and more secure. Its secure checkout experience using fingerprint authentication simplifies the payment process and saves shoppers the trouble of adding their payment card data, billing or shipping details each time they shop.

Global Payments already provides the Samsung Pay service in the Asia Pacific region, including Singapore and China.

Earlier this month, Global Payments announced that it will offer merchants in Taiwan the facility to accept credit and debit card payments via Apple (NASDAQ:AAPL) Pay, which is transforming mobile payments with an easy, secure and private way to pay that's fast and convenient.

Global Payments sees long-term growth opportunities in Samsung, which seeks to deliver new payment options to cardholders around the world. And with the ever-increasing reliance of consumers on their mobile devices, the company’s prospects look bright.

Samsung Pay, with its private and secured mode of payment, will be a huge driver of mobile payment volume. The service will be compatible at virtually every payment terminal in the U.S., thanks to the company's acquisition of LoopPay. This will make it easier for early adopters to get into the habit of paying with their phone.

Other financial services’ providers that have associated with Samsung Pay include American Express Co. (NYSE:AXP) , Bank of America Corp. (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) .

Global Payments carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

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