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ATLANTA - Global Payments Inc. (NYSE:GPN) has formed a partnership with Uber Eats to integrate the delivery platform into its Genius point-of-sale system for restaurants across the U.S. and Canada, the company announced in a press release. The payment technology provider, currently trading at $72.58, is considered undervalued according to InvestingPro analysis, with shares down nearly 35% year-to-date despite maintaining a solid financial health rating.
The integration allows restaurants using the Genius POS system to onboard to Uber Eats through a self-service process, with orders, updates and cancellations syncing automatically between the platforms. Global Payments has designated Uber Eats as its preferred delivery partner.
"Our partnership with Uber Eats allows restaurants to operate with ease while enabling access to Uber Eats' outstanding delivery and technology network to help restaurants reach and retain more customers," said Chris Siefkin, president of Genius Restaurant at Global Payments.
Jose Garcia Pimentel, vice president and head of Uber Delivery for U.S. and Canada, said the integration aims to make launching and accessing Uber Eats "faster and easier than ever."
The company also highlighted its implementation of Genius POS technology at 7 Brew Drive-Thru Coffee, which has deployed the system across more than 500 locations to support its expansion.
At its inaugural Genius User Conference in Atlanta, Global Payments showcased additional technology including Genius Drive Thru, a multi-lane solution with camera vision system, and launched a new modular countertop point-of-sale device.
Global Payments, a Fortune 500 company and S&P 500 member, provides payment technology and software solutions across 38 countries with approximately 27,000 employees.
In other recent news, Global Payments Inc. reported third-quarter results that included a modest revenue increase of approximately 1% and adjusted earnings per share that aligned with consensus expectations. The company's free cash flow reached $784 million, surpassing analyst estimates by about 15%, with a strong conversion rate of 100%. Global Payments has also filed financial statements related to its planned acquisition of Worldpay Holdco, LLC and the divestiture of its Issuer Solutions business, with both transactions pending regulatory approvals. The company introduced a new modular point-of-sale device for its Genius platform, offering multiple configuration options and Power over Ethernet functionality.
Analysts have responded positively to these developments. RBC Capital raised its price target for Global Payments to $95, citing solid results and progress on strategic initiatives. Mizuho increased its price target to $125, highlighting a strong third quarter with accelerating organic growth in the merchant business and positive developments with the Genius platform. Additionally, Raymond James boosted its price target to $105, maintaining an Outperform rating after the company's quarterly performance. These recent developments reflect a period of strategic activity and financial performance for Global Payments.
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