Euronet Worldwide, Inc.’s EEFT Ria Money Transfer recently partnered with Tenpay Global, Tencent’s renowned cross-border payment platform. This partnership will enable users worldwide to send funds from Ria’s digital and physical channels seamlessly to Wallet Balances or linked bank accounts in Weixin Pay, China’s premier digital wallet.

This move bodes well for EEFT’s Money Transfer segment, as China is one of the top three global recipients of remittances, recording inflows of $50 billion in 2023, per the World Bank. By collaborating with Tenpay Global, Ria can now leverage the vast Weixin and WeChat ecosystem, significantly expanding its footprint in the Chinese market. This move will also benefit Weixin Pay users, who can leverage Ria’s extensive presence in 595,000 plus locations in 200 countries and territories for remittances, top-ups, shopping and transfers.

Higher cross-border transactions for EEFT’s money transfer segment should result in higher revenues in the future. EEFT’s money transfer segment’s revenues grew 10% year over year in the third quarter. Strong consumer demand for digital products drove direct-to-consumer transaction growth in the third quarter. Hence, it is an opportune move on EEFT’s part to ink partnerships for strategic growth and it aims to continue gaining market share through such moves. EEFT partnered with PLS Financial Services in September 2024 to become the money transfer service partner for 200 PLS locations.

This strategic alliance reinforces Euronet's global leadership in digital payments and remittances. It strengthens the company’s position in the Chinese market while supporting its vision of bridging global financial gaps with cutting-edge technology.

EEFT’s Share Price Performance & Zacks Rank

Shares of Euronet have gained 1.7% in the past year compared with the industry’s 15.4% growth. EEFT currently carries a Zacks Rank #3 (Hold).

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Stocks to Consider

Some better-ranked stocks in the Finance space are Enact Holdings, Inc. ACT, The Allstate Corporation ALL and Amalgamated Financial Corp. AMAL. Each stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The bottom line of Enact Holdings outpaced estimates in each of the last four quarters, the average surprise being 13%. The Zacks Consensus Estimate for ACT’s 2024 earnings indicates an improvement of 7.7% from the 2023 figure. The consensus mark for revenues implies growth of 6.5% from the 2023 figure. The consensus mark for ACT’s earnings has moved 6.4% north in the past 60 days. 

Allstate’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 135.2%. The Zacks Consensus Estimate for ALL’s 2024 earnings indicates an improvement of 1,612.6%% from the 2023 figure. The consensus mark for revenues implies growth of 12.1% from the 2023 figure. The consensus mark for ALL’s earnings has moved 1.6% north in the past 30 days.

Amalgamated Financial earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 7.8%. The Zacks Consensus Estimate for AMAL’s 2024 earnings indicates an improvement of 17.7% from the 2023 figure. The consensus mark for revenues implies growth of 8.2% from the 2023 figure. The consensus mark for AMAL’s earnings has moved 3.9% north in the past 60 days.

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The Allstate Corporation (ALL) : Free Stock Analysis Report

Euronet Worldwide, Inc. (EEFT) : Free Stock Analysis Report

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Amalgamated Financial Corp. (AMAL) : Free Stock Analysis Report

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