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Mastercard (MA), BASIX Go Digital to Tap Agrarian India
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Mastercard Incorporated (MA - Free Report) recently teamed up with India-based BASIX Social Enterprise Group to introduce an agritech platform called BASIX Farmers’ Market (BFM) for enabling farmers to embrace digital means.
Shares of Mastercard dipped 0.4% on Aug 24, replicating declines in the broader markets.
BFM will use Mastercard’s advanced technology prowess and BASIX’s in-depth agriculture industry expertise to let small and marginal farmers seamlessly sell their products to the end buyers. The registration process on the BFM platform by Farmer Producer Organizations (FPOs) and farmer groups is hassle-free and carries no cost.
In fact, the newly-introduced BFM platform seems to expand the rural and agriculture digitization solution of Mastercard called Mastercard Farm Pass. Catering to more than 3.5 lakh farmers across the five Indian states and one million farmers worldwide, Mastercard Farm Pass links buyers, FPOs and other agriculture ecosystem players with farmers. As a result, farmers gain opportunities to find buyers, access credit, earn the best value in return for selling their products and boost their source of income.
With so many benefits extended through the BFM platform, both Mastercard and BASIX intend to better the lives of more than a million farmers. Presently serving farmers in the five districts of Maharashtra, the BFM platform is expected to expand throughout India to build a commercially viable digital agriculture ecosystem. BASIX management remains optimistic about the new platform likely to benefit a minimum of 1 million farmers in the next five years.
The BFM platform digitizes data and workflows for FPOs and takes care of data privacy and security. The platform is also fit to operate in the remote areas of India that grapple with unstable connectivity. It can therefore reach out to small farmers in the outskirts.
The latest partnership reflects Mastercard’s endeavor to adopt a collective approach in devising products and solutions that can bring underserved communities on the radar of a booming digital economy in India. And BASIX seems the apt partner to complement MA’s effort as it boasts an impressive history of catering to farmers and supporting more than 600 FPOs nationwide for more than two decades.
Through such tie-ups, Mastercard aims to leverage the robust prospects prevalent in India’s digital economy. The Government of India’s vision to include more farmers in the digital economy also makes this recent MA move a time opportune one. India seems an attractive market for Mastercard, given the elevated Internet and smartphone usage and several government initiatives to boost the nation’s digital growth. An improved digital suite built through constant tie-ups and significant investments enable MA to pursue digital transformation efforts globally.
Shares of Mastercard have lost 3.7% in a year compared with the industry’s decline of 26.9%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
The bottom line of Black Knight outpaced estimates in each of the last four quarters, the average beat being 4.57%. The Zacks Consensus Estimate for BKI’s 2022 earnings suggests an improvement of 11.3% from the year-ago reported figure. The same for revenues suggests growth of 8.4% from the year-ago reported number. The consensus mark for BKI’s 2022 earnings has moved 0.8% north in the past 30 days.
Clean Harbors’ earnings outpaced estimates in each of the trailing four quarters, the average being 37.51%. The Zacks Consensus Estimate for CLH’s 2022 earnings suggests an improvement of 86.3% from the year-ago reported figure. The same for revenues suggests growth of 33.4% from the prior-year reading. The consensus mark for CLH’s 2022 earnings has moved 52.7% north in the past 30 days.
The bottom line of Information Services Group outpaced estimates in three of the last four quarters and met the mark once, the average being 32.50%. The Zacks Consensus Estimate for III’s 2022 earnings suggests an improvement of 2.3% from the year-ago reported figure. The same for revenues suggests growth of 3.5% from the year-ago actuals. The consensus mark for III’s 2022 earnings has moved 4.7% north in the past 30 days.
The Clean Harbors stock has gained 21.1% in a year. However, shares of Black Knight and Information Services Group have lost 9.7% and 12.2%, respectively, in the same time frame.
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Mastercard (MA), BASIX Go Digital to Tap Agrarian India
Mastercard Incorporated (MA - Free Report) recently teamed up with India-based BASIX Social Enterprise Group to introduce an agritech platform called BASIX Farmers’ Market (BFM) for enabling farmers to embrace digital means.
Shares of Mastercard dipped 0.4% on Aug 24, replicating declines in the broader markets.
BFM will use Mastercard’s advanced technology prowess and BASIX’s in-depth agriculture industry expertise to let small and marginal farmers seamlessly sell their products to the end buyers. The registration process on the BFM platform by Farmer Producer Organizations (FPOs) and farmer groups is hassle-free and carries no cost.
In fact, the newly-introduced BFM platform seems to expand the rural and agriculture digitization solution of Mastercard called Mastercard Farm Pass. Catering to more than 3.5 lakh farmers across the five Indian states and one million farmers worldwide, Mastercard Farm Pass links buyers, FPOs and other agriculture ecosystem players with farmers. As a result, farmers gain opportunities to find buyers, access credit, earn the best value in return for selling their products and boost their source of income.
With so many benefits extended through the BFM platform, both Mastercard and BASIX intend to better the lives of more than a million farmers. Presently serving farmers in the five districts of Maharashtra, the BFM platform is expected to expand throughout India to build a commercially viable digital agriculture ecosystem. BASIX management remains optimistic about the new platform likely to benefit a minimum of 1 million farmers in the next five years.
The BFM platform digitizes data and workflows for FPOs and takes care of data privacy and security. The platform is also fit to operate in the remote areas of India that grapple with unstable connectivity. It can therefore reach out to small farmers in the outskirts.
The latest partnership reflects Mastercard’s endeavor to adopt a collective approach in devising products and solutions that can bring underserved communities on the radar of a booming digital economy in India. And BASIX seems the apt partner to complement MA’s effort as it boasts an impressive history of catering to farmers and supporting more than 600 FPOs nationwide for more than two decades.
Through such tie-ups, Mastercard aims to leverage the robust prospects prevalent in India’s digital economy. The Government of India’s vision to include more farmers in the digital economy also makes this recent MA move a time opportune one. India seems an attractive market for Mastercard, given the elevated Internet and smartphone usage and several government initiatives to boost the nation’s digital growth. An improved digital suite built through constant tie-ups and significant investments enable MA to pursue digital transformation efforts globally.
Shares of Mastercard have lost 3.7% in a year compared with the industry’s decline of 26.9%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Business Services space are Black Knight, Inc. , Clean Harbors, Inc. (CLH - Free Report) and Information Services Group, Inc. (III - Free Report) . While Clean Harbors sports a Zacks Rank #1 (Strong Buy), Black Knight and Information Services Group carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Black Knight outpaced estimates in each of the last four quarters, the average beat being 4.57%. The Zacks Consensus Estimate for BKI’s 2022 earnings suggests an improvement of 11.3% from the year-ago reported figure. The same for revenues suggests growth of 8.4% from the year-ago reported number. The consensus mark for BKI’s 2022 earnings has moved 0.8% north in the past 30 days.
Clean Harbors’ earnings outpaced estimates in each of the trailing four quarters, the average being 37.51%. The Zacks Consensus Estimate for CLH’s 2022 earnings suggests an improvement of 86.3% from the year-ago reported figure. The same for revenues suggests growth of 33.4% from the prior-year reading. The consensus mark for CLH’s 2022 earnings has moved 52.7% north in the past 30 days.
The bottom line of Information Services Group outpaced estimates in three of the last four quarters and met the mark once, the average being 32.50%. The Zacks Consensus Estimate for III’s 2022 earnings suggests an improvement of 2.3% from the year-ago reported figure. The same for revenues suggests growth of 3.5% from the year-ago actuals. The consensus mark for III’s 2022 earnings has moved 4.7% north in the past 30 days.
The Clean Harbors stock has gained 21.1% in a year. However, shares of Black Knight and Information Services Group have lost 9.7% and 12.2%, respectively, in the same time frame.