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Mastercard's (MA) New Offering to Boost Cross-Border Services Suite
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Mastercard Incorporated (MA - Free Report) recently launched a tool named Cross-Border Services Express in a bid to make international payments easier for consumers and businesses, irrespective of size and scale.
For rolling out the solution, MA is teaming up with fintech like Fable FinTech and Payall Payment Systems to offer a digital user interface to customers for conducting cross-border payments. Apart from bringing about simplified and faster cross-border payments, the new Mastercard tool also takes care of security in digital payments as continually evolving frauds is a significant threat.
The recent launch reflects an attempt on the part of the global digital payment processor to solidify its cross-border services offering. The Mastercard Cross-Border Services platform is frequently chosen by various financial institutions from all over the world for its diversified range of benefits.
Customers can enjoy the benefits of the extensive reach of the platform in more than 100 markets which implies 90% coverage of the global population and thereby can conduct international payments in more than 60 currencies. In addition, customers benefit from diversified payment options either into a bank account, mobile wallets, card or at cash payout locations.
The newly launched tool, Cross-Border Services Express, is likely to fetch some added benefits that might speed up the reach of financial institutions to market as well as minimize transaction risk and upgrade the international payments experience for consumers and businesses. With the help of such an efficient cross-border services offering, MA can establish a solid foothold and occupy a significant share across the global cross-border payments market.
Mastercard has always promoted digitizing the money movement process as it will be a cost-effective option for customers worldwide. A booming digital economy fueled by increased usage of smartphones and higher Internet penetration is further laying the ground for MA to capitalize on. According to the 2022 Borderless Payments Report of Mastercard, three-quarters of consumers are using mobile apps for cross-border payments.
Also, bringing a digital cross-border payments solution like Cross-Border Services Express for small and medium-sized businesses seems to be extremely beneficial in boosting their cross-border payment capabilities. While making cross-border payments, such units often encounter problems that can lead to a delayed supply chain or even discontinuation of relations with suppliers.
Shares of Mastercard have gained 23.9% in the past six months compared with the industry’s 17.3% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Insperity outpaced estimates in each of the last four quarters, the average being 22.24%. The Zacks Consensus Estimate for NSP’s 2023 earnings suggests an improvement of 1.1% from the year-ago reported figure. The same for revenues suggests growth of 8.2% from the year-ago actual. The consensus mark for NSP’s 2023 earnings has moved 4.6% north in the past 60 days.
Bowman Consulting Group’s earnings outpaced estimates in two of the trailing four quarters and missed the mark twice, the average being 174.12%. The Zacks Consensus Estimate for BWMN’s 2023 earnings is pegged at 81 cents per share, which is more than double from the year-ago reported figure. The same for revenues suggests growth of 20.2% from the year-ago actual. The consensus mark for BWMN’s 2023 earnings has moved 5.2% north in the past 30 days.
The bottom line of FLEETCOR Technologies outpaced estimates in each of the last four quarters, the average being 3.78%. The Zacks Consensus Estimate for FLT’s 2023 earnings suggests an improvement of 5.6% from the year-ago reported figure. The same for revenues suggests growth of 11.3% from the year-ago actual. The consensus mark for FLT’s 2023 earnings has moved 0.3% north in the past 60 days.
Shares of Insperity, Bowman Consulting Group and FLEETCOR Technologies have gained 10.6%, 88.7% and 26.6%, respectively, in the past six months.
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Mastercard's (MA) New Offering to Boost Cross-Border Services Suite
Mastercard Incorporated (MA - Free Report) recently launched a tool named Cross-Border Services Express in a bid to make international payments easier for consumers and businesses, irrespective of size and scale.
For rolling out the solution, MA is teaming up with fintech like Fable FinTech and Payall Payment Systems to offer a digital user interface to customers for conducting cross-border payments. Apart from bringing about simplified and faster cross-border payments, the new Mastercard tool also takes care of security in digital payments as continually evolving frauds is a significant threat.
The recent launch reflects an attempt on the part of the global digital payment processor to solidify its cross-border services offering. The Mastercard Cross-Border Services platform is frequently chosen by various financial institutions from all over the world for its diversified range of benefits.
Customers can enjoy the benefits of the extensive reach of the platform in more than 100 markets which implies 90% coverage of the global population and thereby can conduct international payments in more than 60 currencies. In addition, customers benefit from diversified payment options either into a bank account, mobile wallets, card or at cash payout locations.
The newly launched tool, Cross-Border Services Express, is likely to fetch some added benefits that might speed up the reach of financial institutions to market as well as minimize transaction risk and upgrade the international payments experience for consumers and businesses. With the help of such an efficient cross-border services offering, MA can establish a solid foothold and occupy a significant share across the global cross-border payments market.
Mastercard has always promoted digitizing the money movement process as it will be a cost-effective option for customers worldwide. A booming digital economy fueled by increased usage of smartphones and higher Internet penetration is further laying the ground for MA to capitalize on. According to the 2022 Borderless Payments Report of Mastercard, three-quarters of consumers are using mobile apps for cross-border payments.
Also, bringing a digital cross-border payments solution like Cross-Border Services Express for small and medium-sized businesses seems to be extremely beneficial in boosting their cross-border payment capabilities. While making cross-border payments, such units often encounter problems that can lead to a delayed supply chain or even discontinuation of relations with suppliers.
Shares of Mastercard have gained 23.9% in the past six months compared with the industry’s 17.3% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Business Services space are Insperity, Inc. (NSP - Free Report) , Bowman Consulting Group Ltd. (BWMN - Free Report) and FLEETCOR Technologies, Inc. . While Insperity sports a Zacks Rank #1 (Strong Buy), Bowman Consulting Group and FLEETCOR Technologies 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 Insperity outpaced estimates in each of the last four quarters, the average being 22.24%. The Zacks Consensus Estimate for NSP’s 2023 earnings suggests an improvement of 1.1% from the year-ago reported figure. The same for revenues suggests growth of 8.2% from the year-ago actual. The consensus mark for NSP’s 2023 earnings has moved 4.6% north in the past 60 days.
Bowman Consulting Group’s earnings outpaced estimates in two of the trailing four quarters and missed the mark twice, the average being 174.12%. The Zacks Consensus Estimate for BWMN’s 2023 earnings is pegged at 81 cents per share, which is more than double from the year-ago reported figure. The same for revenues suggests growth of 20.2% from the year-ago actual. The consensus mark for BWMN’s 2023 earnings has moved 5.2% north in the past 30 days.
The bottom line of FLEETCOR Technologies outpaced estimates in each of the last four quarters, the average being 3.78%. The Zacks Consensus Estimate for FLT’s 2023 earnings suggests an improvement of 5.6% from the year-ago reported figure. The same for revenues suggests growth of 11.3% from the year-ago actual. The consensus mark for FLT’s 2023 earnings has moved 0.3% north in the past 60 days.
Shares of Insperity, Bowman Consulting Group and FLEETCOR Technologies have gained 10.6%, 88.7% and 26.6%, respectively, in the past six months.