Visa Inc. (V) has inked a strategic partnership agreement with payment and processing firm Tribal. Reuters reports that the partnership will allow the world’s largest payment processor to enhance its offerings for small and medium-sized businesses. V shares fell 1.44% to close at $216.12 on February 28.
Visa is a U.S. company that specializes in offering digital payment services. Its solutions enable global commerce by enhancing the transfer of value and information across a global network of consumers, merchants, and financial institutions.
Visa-Tribal Partnership
Tribal has confirmed that the strategic partnership will expand credit lines. In addition, it will focus on updating encryption and safety measures and improving card distribution while targeting clients in Latin America and the Caribbean.
Tribal comes into the strategic partnership with Visa backed by high-profile investors such as Softbank’s Latin America Fund. It has made a name for itself by offering credit cards and an array of payment options. The payment processing firm also offers blockchain technology and stablecoins to small businesses across Latin America.
Stock Rating
Last month, Robert W. Baird analyst David Koning reiterated a Buy rating on Visa with a $290 price target, implying 34.18% upside potential to current levels.
Consensus among analysts is a Strong Buy based on 16 Buys and 3 Holds. The average Visa price target of $273.47 implies 26.54% upside potential to current levels.
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