The rise of digital wallets and electronic payments has been growing exponentially worldwide. China is clearly the leader with 583.4 million people using Alipay and WeChat pay. In a recent survey, more than 80 million Americans said they've used digital wallets for a more convenient option than carrying cash, but one staggering figure is how many North Americans don't have bank accounts or are underbanked.
38.6 million North Americans don't have a bank account!
Imagine having to drive everywhere to pay your cable, gas, cell phone and electricity bills. How inconvenient is that?
Everyone's heard of Venmo, Paypal or Zellepay by now, but the biggest problem is they do not serve the underbanked or people with bad credit!
That's why once again we're presenting you with another first, another head start on the competition, another chance to profit from a stock everyone else somehow manages to ignore.
My new pick could possibly make triple-digit profits.
Here's why...
On Friday, May 10th they announced a strategic partnership with 7000 convenience stores in the U.S. market their digital wallet to unbanked customers. These customers can load their wallet with cash and may also purchase a virtual and plastic Mastercard that is attached to their wallet. It's the first of it's kind to do so.
Here's another cool thing. If you want to pay a friend or family member, transfers take mere seconds at no cost to the customer. Have you ever heard of Western Union not charging and taking seconds to send a payment? Heck no!
Once proof of concept is established it's hard to catch up.
Just look at Paypal, Venmo, Zellepay and PayTM (who just raised $2 billion on an $18 billion valuation).
All of these companies are showing their market strength, but at one time, they were considered risky companies with unproven business models.
That said, our latest alert has also developed another "awesome alliance"…
Just this morning they announced a partnership to become the prepaid cash card provider for one of the most well-recognized loyalty rewards platforms that power most of the Fortune 500 companies on the planet!
This partnership is a potential game-changer for the company when you consider that global usage of loyalty rewards programs have gone through the roof.
That said, it's just the tip of the iceberg for this disruptive company as it has its eyes set on a more significant role in the digital payment space.
We're talking about two ways to profit: the triple-digital profit upside and the deals this stock have closed recently could make dramatic moves on very little volume. We don't believe this will be around at these levels forever.