) and ICBA Bancard entered into a partnership agreement to
provide local, community-based programs to the member
institutions of ICBA Bancard. For this purpose, the joint venture
is expected to introduce a program named Visa Offers. The deal is
aimed at strengthening the company's relations with the community
banks, their trusted clients.
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The program is expected to be launched in the second half of 2013
and consists of many ICBA Bancard member institutions. Over time
all the community bank membership institutions are expected to be
brought under the purview of the program.
Through Visa Offers, the Visa account holders of the community
banks participating in the initiative will receive merchant
offers, discounts and other loyalty programs exclusively tailored
to their interests and communities. By opening up these
opportunities for the community bank customers, Visa Offers
program intends to enhance the importance and value of the
services provided by Visa.
The Visa Offers program is unique in that it entitles financial
institutions and merchants to provide customers with customized
offers based on their shopping behavior and location of shopping.
ICBA Bancard is a wholly owned subsidiary of the Independent
Community Bankers of America. It endows community banks with
access to market-leading credit card options, debit card options,
ATM and merchant processing solutions as well as other services.
Through its alliance with Visa, it provides an opportunity for
the company to cater to retailers and financial institutions by
enabling them to deliver the Visa cardholders with customer
specific offers at the point-of-sale.
Community banks have served as relevant clients for Visa. Now,
Visa aims at shaping up its products and services as per the
requirements of its clients. In turn these clients will be able
to provide improved services to their customers and cater to the
local community requirements.
Not only will the initiative assist the member institutions of
ICBA Bancard, but also augment other community bank programs.
This will bolster the growth of these institutions and serve
their clients' demands.
Through the association with ICBA Bancard and their member
institutions, Visa will be exposed to a wider customer base which
is expected to fortify its revenues thereby bolstering earnings
going forward. The Zacks Consensus Estimate for fiscal 2013 is
currently pegged at $7.47 representing a year-over-year
improvement of 20.56%.
Visa currently carries a Zacks Rank #2 (Buy). Among other stocks
) carries a favorable Zacks Rank #1 (Strong Buy) while
Fidelity National Information Services Inc.
Official Payments Holdings Ltd.
) share the same Zacks Rank as Visa.