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Mastercard, Worldplay Join Forces to Drive Digital Payment

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Mastercard Incorporated (MA - Free Report) and Worldpay, Inc. recently announced intentions to collaborate on expanding digital payment acceptance options and increasing the security and convenience level of customers.

Through this tie-up, both companies will engage in boosting payment acceptance options for U.K.-based customers and retailers. The alliance will allow the entities to leverage account-to-account payments technology with Mastercard's 'Pay by Bank' application, created by the parent company’s Vocalink business. The companies expect their combined efforts to not only secure the process globally but also make it much more convenient for customers and benefit payments stakeholders. Both will in fact, basically work on each other’s abilities to deliver better payment choices.

Worldplay will be offering payments via the 'Pay by Bank' app to U.K. merchants from early 2019 onward, enabling them to pay online for goods and services through the banking app, directly from their bank accounts.

By dint of this joint endeavor, Mastercard will be able to complement the new service with its distribution scale and also diversify its business beyond the current card network in the U.K. This would not only elevate customer experience but also improve their relations with the company while shopping online or paying for utilities.

Making Digital Payments Better

Worldpay will also back EMVCo's Secure Remote Commerce (SRC) framework to provide its consumers with an easy and steady digital payment experience. Worldplay joins Mastercard and other players from the same field to develop a single and common checkout button. The company will continue supporting its customers with Masterpass and other eCommerce solutions once the service is developed.

Worldplay will leverage Mastercard Digital Enablement Service, replacing a card’s primary 16-digit account number with an alternative card number for augmenting the security of online, digital and in-app payments. Worlplay will also allow Mastercard MoneySend to expand functionality for its push-to-card disbursement solutions, which includes FastAccess for merchant settlement. With this, Worldplay merchants would be able to get settlement payout to Mastercard debit cards within a short span of time.

Shares of this Zacks Rank #3 (Hold) stock have soared 59.8% in the past year, outperforming its industry’s growth of 35.9%.


Stocks to Consider

Better-ranked stocks from the business service sector include Everi Holdings Inc. (EVRI - Free Report) , Green Dot Corporation (GDOT - Free Report) and WEX Inc. (WEX - Free Report) .

Everi offers technology solutions for the casino gaming industry in the United States, Europe, Canada, the Caribbean, Central America and Asia. The stock sports a Zacks Rank #1 (Strong Buy) and managed to pull off an average four-quarter positive surprise of 50.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Green Dot and its subsidiaries operate as a pro-consumer bank holding company, providing personal banking for the masses. The company carries a Zacks Rank #2(Buy) and came up with an average four-quarter beat of 21.37%.

WEX provides corporate card payment solutions in North and South America, the Asia Pacific and Europe. The Zacks #2 Ranked company delivered an average trailing four-quarter earnings surprise of 2.56%.

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