The yum-plugin-replace package can be installed and used to replace one installed package with another.

First, install the yum-plugin-replace package

$ yum install yum-plugin-replace

Now you should be able to use the replace and --replace-with flag.

The example below will replace the php-common package with the php55w-common package.

$ yum replace php-common --replace-with=php55w-common