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Visa (V) is defending its turf in the financial processing market by buying and/or partnering with the new generation of fintech companies. Visa’s latest deal is the purchase of a stake of less than 10% in Finland’s Klarna, The still-private company recently became the largest European fintech player to get a banking license. Klarna processed 13 billion euros in payments in 2016, a 44% increase from 2015. Revenue climbed to $430 million and operating profits totaled $13.3 million. Klarna core markets currently are the Nordic countries and Germany, but the company is looking to move into the United Kingdom and the United States now that its banking license lets it offer credit and debit crds and checking accounts.

The deal is the first in Europe for Visa since it acquired Visa Europe in 2016. In the United States Visa has acquired stakes in fintech payment processors Stripe and Square.

Visa has been a member of my Jubak Picks portfolio since November 4, 2014. The shares are up 49.62% since that initial pick. As of June 29, I’m raising my target price to $108 a share from the previous $82 target. The shares closed at $94.42 today.