Visa Boosts Technology Resources with New Posts & Center - Analyst Blog

Visa Inc. (V), one of the most advanced payments processing network worldwide, recently announced the creation of 2,000 full-time technologist positions. This step has been taken to enhance its technology resources.

Following this news on Sep 24, the stock price rose 0.8% and closed at $214.41. However, the company's shares fell the next day owing to the prevalent weakness in the broader market.

These 2,000 full-time technology posts will include the conversion of existing contractor positions into full-time jobs, along with the creation of new posts. Visa will also strengthen its teams across India, Singapore and four U.S. locations, and to this effect  will be recruiting professional technologists in specialized areas, such asdata scientists, engineers, platform architects and mobile developers. The recruitment process has already started and will be continued till 2017, thereby creating an opportunity for professionals to boost their careers with the technology payments leader.

Visa has also projected the opening of a new technology development center in India in 2015, where the units would target the development of key application programming interfaces (APIs) and software development kits (SDKs). With the creation of new commerce and payment experiences, the group of global partners will be able to easily access VisaNet. The first set of new developer tools will be released by end of 2014.

In the U.S., Visa will be strengthening its position in Austin, Texas and the San Francisco Bay Area by making some of the posts focused on aiding its two world-class data centers in Ashburn, VA, and Denver, CO. This combination will help the company to shift to electronic payments and make innovations in mobile and digital platforms.

Visa has been consistently taking initiatives to enhance its New Visa Technology Services. Last month, it announced plans to deliver Visa Digital Solutions, a range of offerings enabling secure payments across a broad group of Internet-connected devices. The company also introduced Visa Checkout, an easy payment services that allows online payment on any device, thereby saving time. This service is offered in the U.S. and Canada and later this year, it will also be available in Australia.

Visa recently inaugurated a 112,000-square foot innovation center, One Market-at its new office space in San Francisco. This new center will aid Visa technologists, clients, partners and the Bay Area tech community to co-develop the next generation of commerce applications.

Currently, Visa holds a Zacks Rank #2 (Buy). Investors interested in the financial transaction services sector could also consider stocks like Green Dot Corporation (GDOT), Vantiv, Inc. (VNTV) and WEX Inc. (WEX). While Green Dot and Vantiv sport a Zacks Rank #1 (Strong Buy), WEX has the same Zacks Rank as Visa.