GOLDMAN SACHS: Businesses around the world are undergoing a $127 trillion revolution in how they spend money, and these 11 tech stocks will profit the most

Ticker: V

Market cap: $261.93 billion

Comment: "Visa is the global leader in commercial cards and has been working to strengthen its virtual card footprint (WEX recently partnered with Visa to strengthen its international footprint). Visa’s virtual card offering powers Stripe’s Instant Payout solution, Worldpay’s instant payment offering, and First Data’s Disburse-to-Debit solution for businesses paying contractors and temporary workers."

Source: Goldman Sachs

Ticker: AXP

Market cap: $92.81 billion

Comment: "AXP is the #1 commercial issuer globally, with relationships with over 60% of Fortune Global 500 and is the #1 small business card issuer in the US. AXP’s unique integrated payments platform allows AXP to have direct relationships with buyers and sellers, creating the opportunity to flexibly price and structure transactions to meet buyer and supplier needs."

Source: Goldman Sachs

Ticker: FLT

Market cap: $19.44 billion

Comment: "While most providers focus on either domestic or cross-border payments, FleetCor offers both domestic and international payments solutions. This gives FleetCor a unique opportunity to cross-sell its domestic Comdata and cross-border Cambridge products across its client base – especially the Comdata virtual card offering."

Source: Goldman Sachs

Ticker: WEX

Market cap: $8.38 billion

Comment: "WEX issues both Mastercard and Visa virtual cards, giving customers greater flexibility and a bigger international reach. WEX’s corporate payments offerings currently run on the legacy AOC and EFS platforms — with the AOC platform serving enterprises and EFS serving smaller companies — but WEX plans to create one unified platform over the next several years by lifting the best features from both platforms."

Source: Goldman Sachs

Ticker: SQ

Market cap: $27.40 billion

Comment: "While Square primarily provides disbursements and only recently began facilitating supplier payments, we see potential for Square to expand its offerings as it builds out its ecosystem. Over time, we also see potential for Square to offer more robust supply chain financing solutions in conjunction with Square Capital."

Source: Goldman Sachs

Ticker: WP

Market cap: $29.77 billion

Comment: "WEX issues both Mastercard and Visa virtual cards, giving customers greater flexibility and a bigger international reach. WEX’s corporate payments offerings currently run on the legacy AOC and EFS platforms — with the AOC platform serving enterprises and EFS serving smaller companies — but WEX plans to create one unified platform over the next several years by lifting the best features from both platforms."

Source: Goldman Sachs

Ticker: COUP

Market cap: $4.59 billion

Comment: "Coupa is differentiated from competitors in the spend management space by ease-of-use and comprehensiveness of the solution. Whereas competitors may require 4-5 loosely coupled tools to accomplish similar outcomes, Coupa supports the entire business spending workflow from purchase to payment using a natively-integrated platform."

Source: Goldman Sachs

Ticker: INTU

Market cap: $58.07 billion

Comment: "Intuit benefits from its incumbency position and massive install base of QuickBooks customers, which provides the company with a captive audience for payments, tax prep, and more nascent offerings such as capital. The sizable installed base has also attracted a rich partner community of e-commerce and third-party payments providers including Shopify, Square, and PayPal."

Source: Goldman Sachs

Ticker: EPAY

Market cap: $2.82 billion

Comment: "Coupa is differentiated from competitors in the spend management space by ease-of-use and comprehensiveness of the solution. Whereas competitors may require 4-5 loosely coupled tools to accomplish similar outcomes, Coupa supports the entire business spending workflow from purchase to payment using a natively-integrated platform."

Source: Goldman Sachs

Ticker: SAP

Market cap: €125.95 billion ($147.23 billion)

Comment: "SAP’s solutions are easy to integrate with multiple accounting and other procure-to-pay solutions, making them attractive for medium- to large-scale companies. In particular, SAP’s Ariba Network has meaningful scale, connecting suppliers in over 190 countries and facilitating over $50bn in annual payment volume."

Source: Goldman Sachs