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Mastercard (MA) Ties Up to Infuse Digitization in Catalonia
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Mastercard Incorporated (MA - Free Report) recently inked a collaboration agreement with the Government of Catalonia to introduce an array of projects for infusing digitization across different sectors of the region.
Shares of Mastercard have gained 10.2% in the last couple of days.
MA has been working closely with the Digital Policies ministry to extend its suite of advanced technologies (blockchain and big data) for accelerating digital growth prospects of primarily three sectors of Catalonia — agri-food, cybersecurity and tourism. The latest partnership even has plans to bring other sectors under the digital radar in the days ahead.
In the agriculture sector, the European Provenance supply chain solution of Mastercard integrated with blockchain technology has undergone an initial trial amid Catalonian agriculture. This solution, which has been successfully tested across other markets, including Australia, Central America, Mexico, and the United States, aims to digitize the agri-food value chain and upgrade food product traceability. Meanwhile, Mastercard will extend a series of digital resources, tools and services for bolstering the cybersecurity capabilities of Catalonia’s small and medium enterprises (SMEs).
The third sector that the latest tie-up will intensify focus on is tourism. Mastercard will utilize data and other digital marketing tools to devise and implement tourism recovery strategies.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to blend their global credible solutions within different regions across the world. Such efforts continue to bolster the partner network and global footprint of MA. The recent partnership is yet another pursuit of Mastercard as part of its public-private partnerships strategy. Time and again, the technology company in the global payments industry continues to work in unison with the governments to infuse digitization across various sectors of the economy. In December 2021, Mastercard tied up with Pakistan-based Ravi Urban Development Authority (RUDA) for offering the facility of seamless digital payments in Pakistan.
It is worth mentioning that MA remains the preferred choice of governments and private institutions owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence.
The recent partnership undertaken by Mastercard with the Government of Catalonia comes at an opportune time as well on account of the fact that the region is not only witnessing accelerated adoption of emerging technologies but also seeing the need for innovations. With digitization being infused across every sphere of life, there has emerged a dire need for the global economy to integrate digitization within its operations to stay ahead of the curve. To capitalize on the prevailing scenario, Mastercard boasts enhanced digital capabilities in place developed through tie-ups and investments.
Similar to Mastercard, other companies such as Visa Inc. (V - Free Report) , Global Payments Inc. (GPN - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) have been pursuing digital transformation efforts and launching several contactless payment solutions from time to time.
Visa makes use of advanced technologies for rolling out newer payment solutions. V has been striving hard to integrate blockchain technology with the payments platform. The launch of diversified payment alternatives, including mobile payments through Visa Checkout and Visa payWave, highlights the company’s commitment to ensure enhanced online checkout experiences for consumers.
Global Payments is a pure-play payments technology company boasting deep expertise in payments technology. GPN continues to roll out a wide array of payments technology and software solutions for customers on a worldwide basis backed by its expertise. Global Payments has joined forces with several organizations for extending its nationwide reach in the digital payments space.
PayPal offers cost-effective digital payment solutions equipping customers and merchants to access and move their money anywhere, anytime and through any connected device. PYPL enables customers to trade cryptocurrencies, which can be done through the company’s digital wallet. Being a secure gateway, PayPal provides for biometric and QR-based payments to its customers.
Image: Bigstock
Mastercard (MA) Ties Up to Infuse Digitization in Catalonia
Mastercard Incorporated (MA - Free Report) recently inked a collaboration agreement with the Government of Catalonia to introduce an array of projects for infusing digitization across different sectors of the region.
Shares of Mastercard have gained 10.2% in the last couple of days.
MA has been working closely with the Digital Policies ministry to extend its suite of advanced technologies (blockchain and big data) for accelerating digital growth prospects of primarily three sectors of Catalonia — agri-food, cybersecurity and tourism. The latest partnership even has plans to bring other sectors under the digital radar in the days ahead.
In the agriculture sector, the European Provenance supply chain solution of Mastercard integrated with blockchain technology has undergone an initial trial amid Catalonian agriculture. This solution, which has been successfully tested across other markets, including Australia, Central America, Mexico, and the United States, aims to digitize the agri-food value chain and upgrade food product traceability. Meanwhile, Mastercard will extend a series of digital resources, tools and services for bolstering the cybersecurity capabilities of Catalonia’s small and medium enterprises (SMEs).
The third sector that the latest tie-up will intensify focus on is tourism. Mastercard will utilize data and other digital marketing tools to devise and implement tourism recovery strategies.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to blend their global credible solutions within different regions across the world. Such efforts continue to bolster the partner network and global footprint of MA. The recent partnership is yet another pursuit of Mastercard as part of its public-private partnerships strategy. Time and again, the technology company in the global payments industry continues to work in unison with the governments to infuse digitization across various sectors of the economy. In December 2021, Mastercard tied up with Pakistan-based Ravi Urban Development Authority (RUDA) for offering the facility of seamless digital payments in Pakistan.
It is worth mentioning that MA remains the preferred choice of governments and private institutions owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence.
The recent partnership undertaken by Mastercard with the Government of Catalonia comes at an opportune time as well on account of the fact that the region is not only witnessing accelerated adoption of emerging technologies but also seeing the need for innovations. With digitization being infused across every sphere of life, there has emerged a dire need for the global economy to integrate digitization within its operations to stay ahead of the curve. To capitalize on the prevailing scenario, Mastercard boasts enhanced digital capabilities in place developed through tie-ups and investments.
Similar to Mastercard, other companies such as Visa Inc. (V - Free Report) , Global Payments Inc. (GPN - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) have been pursuing digital transformation efforts and launching several contactless payment solutions from time to time.
Visa makes use of advanced technologies for rolling out newer payment solutions. V has been striving hard to integrate blockchain technology with the payments platform. The launch of diversified payment alternatives, including mobile payments through Visa Checkout and Visa payWave, highlights the company’s commitment to ensure enhanced online checkout experiences for consumers.
Global Payments is a pure-play payments technology company boasting deep expertise in payments technology. GPN continues to roll out a wide array of payments technology and software solutions for customers on a worldwide basis backed by its expertise. Global Payments has joined forces with several organizations for extending its nationwide reach in the digital payments space.
PayPal offers cost-effective digital payment solutions equipping customers and merchants to access and move their money anywhere, anytime and through any connected device. PYPL enables customers to trade cryptocurrencies, which can be done through the company’s digital wallet. Being a secure gateway, PayPal provides for biometric and QR-based payments to its customers.
Shares of Mastercard have gained 15.5% in a year against the industry’s decline of 19.1%. MA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Visa stock has gained 11.6% in a year. Shares of Global Payments and PayPal have lost 21.4% and 30.9%, respectively, in the same time frame.