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Mastercard (MA), CleverCards to Boost Digital Payments in Europe
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Mastercard Incorporated (MA - Free Report) recently welcomed CleverCards, the global payments platform, in its Fintech Express programme. Notably, the programme is part of the Mastercard’s Accelerate portfolio launched in 2019. Shares of Mastercard have lost 0.5% on Feb 12, replicating the declines in the broader markets.
Coming back, the latest move intends to strengthen Mastercard’s relationship with CleverCards that can be traced back to the year 2019. Notably, the two companies had formed an alliance to boost usage of digital cards across Europe.
With the latest move, Mastercard aims to ramp up its efforts to aid an increasing number of European businesses and consumers in accepting digital payments. The payments industry has been undergoing a massive shift from physical to digital mode and the COVID-19 pandemic has only accelerated the trend of contactless payments through both online means and in-store visits. Mastercard has been making investments to devise innovative solutions in order to bring more businesses under the ambit of digital economy.
Mastercard has also been partnering with several organizations for capitalizing on the current prospects in the digital payments space and the latest move is in sync with the same as it promotes easy adoption of digital means. Being the preferred choice of partner for leading fintechs across Europe, the core digital platform of Mastercard named Digital Enablement Service (MDES), and its processing and service capabilities will be integrated into the innovative technology of CleverCards. The technology seems to be of great help to the gig economy, which does not need a bank account for managing their earnings.
This seems to be in line with one of the endeavors of Mastercard, which has been striving to help gig and independent workers by offering affordable and comprehensive set of personalized financial products and solutions for them. Case in point, the company collaborated with Stride in October 2020 to cater to the comprehensive benefits needs of gig and independent workers.
Moreover, the same technology aids in speeding up the claims payout process of insurance companies and airlines to consumers. With the help of Mastercard’s advanced technologies assuring secured contactless payments, CleverCards intends to not only help businesses in getting rid of several intermediary card issuing processes but also benefit clients with digital first solutions.
Notably, shares of Mastercard have gained 3.3% in the past six months compared with the industry’s growth of 3.6%.
Other companies in the same space, Visa Inc. (V - Free Report) and The Western Union Company (WU - Free Report) have rallied 5.3% and 0.2%, respectively, in the past six months, while EVO Payments, Inc. has lost 0.7% in the same time period.
A strong brand name, vast business network, global presence, investment in technology, several partnerships and acquisitions have positioned this Zacks Rank #3 (Hold) well for long-term growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Mastercard (MA), CleverCards to Boost Digital Payments in Europe
Mastercard Incorporated (MA - Free Report) recently welcomed CleverCards, the global payments platform, in its Fintech Express programme. Notably, the programme is part of the Mastercard’s Accelerate portfolio launched in 2019. Shares of Mastercard have lost 0.5% on Feb 12, replicating the declines in the broader markets.
Coming back, the latest move intends to strengthen Mastercard’s relationship with CleverCards that can be traced back to the year 2019. Notably, the two companies had formed an alliance to boost usage of digital cards across Europe.
With the latest move, Mastercard aims to ramp up its efforts to aid an increasing number of European businesses and consumers in accepting digital payments. The payments industry has been undergoing a massive shift from physical to digital mode and the COVID-19 pandemic has only accelerated the trend of contactless payments through both online means and in-store visits. Mastercard has been making investments to devise innovative solutions in order to bring more businesses under the ambit of digital economy.
Mastercard has also been partnering with several organizations for capitalizing on the current prospects in the digital payments space and the latest move is in sync with the same as it promotes easy adoption of digital means. Being the preferred choice of partner for leading fintechs across Europe, the core digital platform of Mastercard named Digital Enablement Service (MDES), and its processing and service capabilities will be integrated into the innovative technology of CleverCards. The technology seems to be of great help to the gig economy, which does not need a bank account for managing their earnings.
This seems to be in line with one of the endeavors of Mastercard, which has been striving to help gig and independent workers by offering affordable and comprehensive set of personalized financial products and solutions for them. Case in point, the company collaborated with Stride in October 2020 to cater to the comprehensive benefits needs of gig and independent workers.
Moreover, the same technology aids in speeding up the claims payout process of insurance companies and airlines to consumers. With the help of Mastercard’s advanced technologies assuring secured contactless payments, CleverCards intends to not only help businesses in getting rid of several intermediary card issuing processes but also benefit clients with digital first solutions.
Notably, shares of Mastercard have gained 3.3% in the past six months compared with the industry’s growth of 3.6%.
Other companies in the same space, Visa Inc. (V - Free Report) and The Western Union Company (WU - Free Report) have rallied 5.3% and 0.2%, respectively, in the past six months, while EVO Payments, Inc. has lost 0.7% in the same time period.
A strong brand name, vast business network, global presence, investment in technology, several partnerships and acquisitions have positioned this Zacks Rank #3 (Hold) well for long-term growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>