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Mastercard (MA) Extends Digital Tools to Asia Pacific Cardholders
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Mastercard Incorporated (MA - Free Report) recently launched an array of digital tools and solutions for benefiting premium cardholders across the Asia Pacific region.
Through the tools, Platinum, Titanium, World and World Elite cardholders are able to make more secured payments per their own convenience for availing the improved shopping and travel benefits offered as part of the latest move.
In addition to offering the abovementioned benefits, Mastercard also tends to offer e-commerce insurance, extending coverage to incomplete or undelivered items. The insurance coverage even encompasses items being mistakenly delivered or items not functioning properly but have been delivered by local and international online sellers. For availing coverage of up to $1,000 per year offered by Mastercard, cardholders need not send paper forms but just complete the digital claims process. This is likely to save time and make the entire process a tech-savy one.
Simultaneously with the recent move, the online portal named Mastercard Travel and Lifestyle Services has been made available to the same range of Mastercard’s cardholders for getting exposure to special deals, as well as redeeming lifestyle benefits. They can inquire, book and make payment for trips with all these features that are being single-handedly offered through the portal.
Despite the fact that restrictions in the tourism sector stemming from the COVID-19 pandemic have not been completely eased, the company’s management remains optimistic about suppressed demand for travel. Thereby, the recent move of Mastercard can be referred to as a time opportune one. The travel benefits have been extended at the right time as Mastercard’s cross-border volumes have been rising decently across the Asia Pacific region. The reason can be well attributed to the gradual gaining of confidence in travelling among people across the region. This has definitely provided a ray of hope to the company’s cross-border volumes, which have been hit hard by the coronavirus outbreak.
Shares of Mastercard have gained 49% over a year compared with the industry’s 38.7% rally.
Moreover, the recent move reiterates Mastercard’s intensified focus on tapping the current prospects in the digital payments space of Asia Pacific. Fears of getting infected with the virus has led to glaring demand for contactless payments worldwide, as age-old payment methods of checks and cash can only aggravate the chances of getting infected. Mastercard has been working with leading industry partners across nations for minimising payment touchpoints and developing an array of cost-effective digital solutions.
Coming back to Asia Pacific, the leading payment processor teamed up with SAP Concur in February 2021 to provide automated expense and invoice management process to banks, companies and government agencies across Asia Pacific. Several factors, including evolving consumer demand and increased internet penetration, have contributed to growth of the digital payments market in Asia Pacific. Rise in smartphone usage, with constant technological upgrades, has also provided an impetus to market growth. Per research firm Mordor Intelligence, surge in smartphone penetration — primarily across Asia Pacific’s emerging markets — is likely to bolster the Digital Payments Market. The market is likely to witness a CAGR of 13.7% over the 2021-2026 period, as cited by the same firm.
Mastercard has also been looking to ramp up digital transformation efforts for Asia Pacific’s small and medium enterprises that also bore the brunt of the pandemic-induced financial uncertainties. To this end, it introduced the Digital Acceleration for Small Businesses center in January 2021.
Other payment processors making efforts to help small businesses include Visa Inc. (V - Free Report) , which has been catering to the unique needs of small and medium-sized businesses through the Small Business Hub launched last year. While American Express Company (AXP - Free Report) came out with back-to-business offers for small business card members, Global Payments Inc. (GPN - Free Report) has been working closely with numerous small businesses by rolling out enhanced and secured payments technology solutions.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
Mastercard (MA) Extends Digital Tools to Asia Pacific Cardholders
Mastercard Incorporated (MA - Free Report) recently launched an array of digital tools and solutions for benefiting premium cardholders across the Asia Pacific region.
Through the tools, Platinum, Titanium, World and World Elite cardholders are able to make more secured payments per their own convenience for availing the improved shopping and travel benefits offered as part of the latest move.
In addition to offering the abovementioned benefits, Mastercard also tends to offer e-commerce insurance, extending coverage to incomplete or undelivered items. The insurance coverage even encompasses items being mistakenly delivered or items not functioning properly but have been delivered by local and international online sellers. For availing coverage of up to $1,000 per year offered by Mastercard, cardholders need not send paper forms but just complete the digital claims process. This is likely to save time and make the entire process a tech-savy one.
Simultaneously with the recent move, the online portal named Mastercard Travel and Lifestyle Services has been made available to the same range of Mastercard’s cardholders for getting exposure to special deals, as well as redeeming lifestyle benefits. They can inquire, book and make payment for trips with all these features that are being single-handedly offered through the portal.
Despite the fact that restrictions in the tourism sector stemming from the COVID-19 pandemic have not been completely eased, the company’s management remains optimistic about suppressed demand for travel. Thereby, the recent move of Mastercard can be referred to as a time opportune one. The travel benefits have been extended at the right time as Mastercard’s cross-border volumes have been rising decently across the Asia Pacific region. The reason can be well attributed to the gradual gaining of confidence in travelling among people across the region. This has definitely provided a ray of hope to the company’s cross-border volumes, which have been hit hard by the coronavirus outbreak.
Shares of Mastercard have gained 49% over a year compared with the industry’s 38.7% rally.
Moreover, the recent move reiterates Mastercard’s intensified focus on tapping the current prospects in the digital payments space of Asia Pacific. Fears of getting infected with the virus has led to glaring demand for contactless payments worldwide, as age-old payment methods of checks and cash can only aggravate the chances of getting infected. Mastercard has been working with leading industry partners across nations for minimising payment touchpoints and developing an array of cost-effective digital solutions.
Coming back to Asia Pacific, the leading payment processor teamed up with SAP Concur in February 2021 to provide automated expense and invoice management process to banks, companies and government agencies across Asia Pacific. Several factors, including evolving consumer demand and increased internet penetration, have contributed to growth of the digital payments market in Asia Pacific. Rise in smartphone usage, with constant technological upgrades, has also provided an impetus to market growth. Per research firm Mordor Intelligence, surge in smartphone penetration — primarily across Asia Pacific’s emerging markets — is likely to bolster the Digital Payments Market. The market is likely to witness a CAGR of 13.7% over the 2021-2026 period, as cited by the same firm.
Mastercard has also been looking to ramp up digital transformation efforts for Asia Pacific’s small and medium enterprises that also bore the brunt of the pandemic-induced financial uncertainties. To this end, it introduced the Digital Acceleration for Small Businesses center in January 2021.
Other payment processors making efforts to help small businesses include Visa Inc. (V - Free Report) , which has been catering to the unique needs of small and medium-sized businesses through the Small Business Hub launched last year. While American Express Company (AXP - Free Report) came out with back-to-business offers for small business card members, Global Payments Inc. (GPN - Free Report) has been working closely with numerous small businesses by rolling out enhanced and secured payments technology solutions.
Mastercard currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>