Visa Rolls Out New Tech Rivaling Apple Pay, Teams Up with Affirm for Easier Transactions
- Visa's New Technology: Visa Inc is launching new technology to enhance its e-commerce marketplace position, sharing detailed customer preference information securely using proprietary tokens.
- Consumer Consent and Benefits: Consumer consent is required for data sharing, with smoother transactions experienced due to token technology according to Visa CEO Ryan McInerney.
- AI-Driven Interactions: Visa aims to improve shopping experiences through tailored AI-driven interactions leveraging vast data.
- Facial Recognition Payment System: Introducing a facial recognition payment system similar to Apple Pay to reduce transaction friction across all browsers and mobile devices.
- Simplified Payment Processes: Partnering with Affirm Holdings Inc, Visa is simplifying payment processes for U.S. consumers by introducing a single credential for multiple payment methods, eliminating the need for new account numbers or additional cards.
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Portfolio Performance: The Polen Global Growth Composite Portfolio achieved a 3.0% gross return and a 2.7% net return in Q3.
New Investments: The fund initiated new positions in companies like NVIDIA, Broadcom, TSMC, Boston Scientific, and Uber, while also increasing stakes in existing holdings.
Position Adjustments: To optimize the portfolio, the fund sold off positions in ADP, Airbnb, Accenture, and Thermo Fisher Scientific, and made selective reductions in other areas.
Growth Expectations: The fund projects earnings growth of approximately 20% per year in the near term, believing a mid-thirties valuation multiple is justified for this growth rate.
Polen Capital's ETF Expansion: Polen Capital has launched two new ETFs, the Polen Floating Rate Income ETF (PCFI) and the Polen High Income ETF (PCHI), aimed at providing investors with income-generating options amidst inflation and market volatility.
Investment Strategies: PCFI focuses on high current income through senior secured floating-rate loans, while PCHI employs a disciplined approach to capitalize on opportunities in high-yield bonds and leveraged loans, both contributing to Polen Capital's growing ETF portfolio now managing nearly $200 million in assets.
- Financial Performance: ADP reported Q3 2024 revenues of $5.25 billion, beating analyst expectations, with a 7% increase year-over-year.
- Earnings and Margins: Quarterly adjusted EPS was $2.88, surpassing analyst estimates, while Adjusted EBIT increased by 12% to $1.5 billion with a margin increase of 140 bps to 29.3%.
- Net Earnings: Net earnings rose by 14% Y/Y to $1.2 billion, and adjusted net earnings increased by 13% Y/Y to $1.2 billion.
- Outlook and Financial Position: ADP reiterated its revenue growth outlook for FY24 and held $3.3 billion in cash and equivalents as of March 31, 2024.
- Stock Performance and Investment Opportunities: ADP stock gained 12% in the last 12 months, and investors can access it through ETFs like DIVL and PCGG.









