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Mastercard's (MA) Network Gets a Boost With Takeaway Pay Card
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Mastercard Incorporated (MA - Free Report) recently announced that the newly launched debit card of Just Eat Takeaway.com can be utilized to avail meal allowance at several Mastercard and Maestro accepting specific food and beverage merchants worldwide.
The card named Takeaway Pay Card has been rolled out by Just Eat Takeaway.com in collaboration with the worldwide payments platform Adyen. It basically intends to offer improved food benefits to a company’s employees as they gradually return to offices post the COVID-19 pandemic. Thereby, the new card seems to be an enhancement over the prevailing digital food benefit allowance of Just Eat Takeaway.com.
Mastercard’s network is likely to receive a boost in the days ahead as corporate customers start utilizing the card at select food and beverage units. Increased utilization of the card will strengthen the company’s presence worldwide as well. It is worth mentioning that the card is presently available in 12 countries and will soon be rolled out to new and existing corporate clients across other countries.
The recent move reflects collective efforts of Mastercard, Just Eat Takeaway.com and Adyen to offer seamless and secured payments related to travel and other costs. These payments can be made easily from the comfort of home or anywhere across the globe.
Mastercard looks to capitalize on the prevailing scenario with the recent initiative, wherein stringent lockdowns imposed worldwide have been relatively eased. Consequently, the hospitality sector is making a comeback toward operating from offices, which will inevitably push up the travel and other expenses incurred by companies.
Mastercard has always tried to revolutionize the payments landscape and promoted rapid adoption of digital means. The company looks well-poised to tap prospects present in the global contactless payments market, which per MarketsandMarkets, is anticipated to witness a CAGR of 11.7% over the 2020-2025 period.
The company has collaborated with several well-established organizations across the globe and undertaken significant investment for upgrading its digital capabilities. Besides enhancing its competencies, Mastercard has remained committed to offering necessary assistance to startups through Mastercard Accelerate portfolio ranging from offering technological assistance to rolling out cost-effective solutions. This has enabled the company to help startups thrive and foray into the underserved areas.
Other companies that have launched innovative solutions to reinforce their global contactless payment market presence include Visa Inc. (V - Free Report) , PayPal Holdings, Inc. (PYPL - Free Report) and American Express Company (AXP - Free Report) .
Image: Bigstock
Mastercard's (MA) Network Gets a Boost With Takeaway Pay Card
Mastercard Incorporated (MA - Free Report) recently announced that the newly launched debit card of Just Eat Takeaway.com can be utilized to avail meal allowance at several Mastercard and Maestro accepting specific food and beverage merchants worldwide.
The card named Takeaway Pay Card has been rolled out by Just Eat Takeaway.com in collaboration with the worldwide payments platform Adyen. It basically intends to offer improved food benefits to a company’s employees as they gradually return to offices post the COVID-19 pandemic. Thereby, the new card seems to be an enhancement over the prevailing digital food benefit allowance of Just Eat Takeaway.com.
Mastercard’s network is likely to receive a boost in the days ahead as corporate customers start utilizing the card at select food and beverage units. Increased utilization of the card will strengthen the company’s presence worldwide as well. It is worth mentioning that the card is presently available in 12 countries and will soon be rolled out to new and existing corporate clients across other countries.
The recent move reflects collective efforts of Mastercard, Just Eat Takeaway.com and Adyen to offer seamless and secured payments related to travel and other costs. These payments can be made easily from the comfort of home or anywhere across the globe.
Mastercard looks to capitalize on the prevailing scenario with the recent initiative, wherein stringent lockdowns imposed worldwide have been relatively eased. Consequently, the hospitality sector is making a comeback toward operating from offices, which will inevitably push up the travel and other expenses incurred by companies.
Mastercard has always tried to revolutionize the payments landscape and promoted rapid adoption of digital means. The company looks well-poised to tap prospects present in the global contactless payments market, which per MarketsandMarkets, is anticipated to witness a CAGR of 11.7% over the 2020-2025 period.
The company has collaborated with several well-established organizations across the globe and undertaken significant investment for upgrading its digital capabilities. Besides enhancing its competencies, Mastercard has remained committed to offering necessary assistance to startups through Mastercard Accelerate portfolio ranging from offering technological assistance to rolling out cost-effective solutions. This has enabled the company to help startups thrive and foray into the underserved areas.
Other companies that have launched innovative solutions to reinforce their global contactless payment market presence include Visa Inc. (V - Free Report) , PayPal Holdings, Inc. (PYPL - Free Report) and American Express Company (AXP - Free Report) .
Zacks Rank & Price Performance
Shares of Mastercard, which carries a Zacks Rank #3 (Hold), have gained 6% in a year against the industry’s decline of 4.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research