Blackbaud BLKB recently announced the general availability of its latest solution — Payment Terminal.Payment Terminal will enable organizations, mainly arts and cultural, to receive contactless payments made through chip-embedded credit cards.The solution can also help Blackbaud Altru customers to utilize EMV technology-backed card readers. These card readers are capable of encrypting transactions to make payments secure and lower instances of fraudulent activities.The solution will also accept payment from users who leverage digital wallets like Apple AAPL Pay and Google Pay. Payment Terminal is capable of processing transactions three times faster compared with a magnetic swipe device, noted Blackbaud.Blackbaud, Inc. Price and Consensus Blackbaud, Inc. price-consensus-chart | Blackbaud, Inc. Quote Payment Terminal transactions can be reconciled with any other transactions made through Blackbaud Merchant Services, further added the company. Rise in Contactless Payment SolutionsThe rapid surge in contactless payments is being driven by need for secure transactions as well as increasing proliferation of smartphone and wearable devices with integrated payment technologies.According to data from Grand View Research, the worldwide contactless payments market is expected to witness a CAGR of 20.3% between 2021 and 2028.The projection bodes well for Blackbaud’s latest payment solution. With gradual opening of zoos and museums across the globe, there is expected to be heavy footfall as people look to ramp up traveling after being confined in their homes for more than a year.With the COVID-19 crisis still not completely abated, it is imperative to follow social distancing protocols. Payment Terminal solution will enable Blackbaud Altru clients to receive funds securely and minimize transmission risk for patrons and employees.Blackbaud Altru is a cloud-based software solution that helps with mangement of admissions, fundraising, membership, merchandise and marketing among others. It is designed mainly for general admission organizations.Blackbaud is engaged in providing cloud-based and on-premise software solutions and related services primarily for social good organizations.The acquisitions of YourCause (2019) and JustGiving (2017) is enhancing the total addressable market for Blackbaud. The company, currently, has more than 45,000 clients across 100 countries.However, the company’s’ performance is being hampered by coronavirus-led sluggish demand across small- and medium-sized businesses. Stiff competition in the cloud space along with a leveraged balance sheet are added concerns.Zacks Rank and Key PicksBlackbaud currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the broader technology sector worth considering are NVIDIA NVDA and Zoom Video ZM . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The long-term earnings growth rate for NVIDIA and Zoom Video is currently pegged at 17.6% and 15.6%, respectively. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Blackbaud, Inc. (BLKB): Free Stock Analysis Report Zoom Video Communications, Inc. (ZM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research