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Mastercard's (MA) Digital Technology to Spur Growth in Emirate
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Mastercard Incorporated (MA - Free Report) recently extended its alliance with Dubai Chamber of Commerce & Industry, a non-profit public organization, to boost economic growth throughout the Emirate.
Mastercard’s innovative technologies are equipped to transform big data into material insights, which have been delivering meaningful and comprehensive ideas aimed at helping the government, businesses, and residents. The company intends to spur economic growth in the Emirate. In sync with this endeavor, MA will expand its data and intelligence services suite to Dubai Chamber of Commerce & Industry to provide a better understanding of the fast-evolving spending patterns of consumers. With insights derived from MA’s data-driven analytics technology and by measuring the utilization of online channels across the Emirate, better decision-making skills can be developed.
The purpose of the latest partnership seems to stimulate widespread adoption of digital payments in Dubai, thereby accelerating the shift of the city toward a digital economy. Meanwhile, the tie-up aims to extend a helping hand to small and mid-sized enterprises (SMEs) in the region.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to integrate their credible global solutions and innovative technologies within different regions worldwide. Such efforts continue to bolster the partner network and areas of operations, which in turn provide impetus to the global footprint of MA. The recent partnership is part of its public-private partnerships strategy.
MA continues to work in unison with the governments to infuse digitization across various sectors of the economy. Mastercard remains the preferred choice of governments and private institutions owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence. In January 2022, Mastercard joined forces with the Government of Catalonia to work on a series of projects to gradually integrate digitization within the region’s economy.
Similar to the latest move to infuse digitization within Dubai, the technology company in the global payments industry has collaborated with the Dubai International Financial Centre (DIFC), one of the Dubai-based leading financial centers in the Middle East, Africa and South Asia (MEASA), in 2021. The partnership introduced the Global Cyber Forward program, which is aimed at building a reliable digital environment across the city.
Mastercard’s focus on bolstering its presence across the Emirate can be attributed to multiple factors. Notable ones include the country harboring advanced and modern technologies and high smartphone penetration rates. This makes it easier for MA to pursue digital transformation efforts and infuse digitization within the economy. Per the official portal of the United Arab Emirates (UAE) Government, multiple factors such as eCommerce developments, upgradations in the information technology infrastructure, accelerated reach of Internet services, increased usage of smartphones coupled with an active role played by the government in infusing digitization within the country position it well for a flourishing digital economy.
Backed by enhanced digital capabilities developed through tie-ups and investments, Mastercard is well-poised to capitalize on the scenario.
Similar to Mastercard, other companies such as Visa Inc. (V - Free Report) , Global Payments Inc. (GPN - Free Report) and American Express Company (AXP - 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 ensuring 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 to extend its nationwide reach in the digital payments space.
American Express pursues a series of measures focused on technology advancements, the introduction of secure digital solutions and assistance in businesses to regulate payments. Several buyouts and partnerships pursued in the past have aided the company to bolster its digital capabilities and strengthen its global foothold.
American Express stock has gained 13.3% in the past six months . Meanwhile, shares of Visa and Global Payments have lost 0.9% and 14%, respectively, in the same time frame.
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Mastercard's (MA) Digital Technology to Spur Growth in Emirate
Mastercard Incorporated (MA - Free Report) recently extended its alliance with Dubai Chamber of Commerce & Industry, a non-profit public organization, to boost economic growth throughout the Emirate.
Mastercard’s innovative technologies are equipped to transform big data into material insights, which have been delivering meaningful and comprehensive ideas aimed at helping the government, businesses, and residents. The company intends to spur economic growth in the Emirate. In sync with this endeavor, MA will expand its data and intelligence services suite to Dubai Chamber of Commerce & Industry to provide a better understanding of the fast-evolving spending patterns of consumers. With insights derived from MA’s data-driven analytics technology and by measuring the utilization of online channels across the Emirate, better decision-making skills can be developed.
The purpose of the latest partnership seems to stimulate widespread adoption of digital payments in Dubai, thereby accelerating the shift of the city toward a digital economy. Meanwhile, the tie-up aims to extend a helping hand to small and mid-sized enterprises (SMEs) in the region.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to integrate their credible global solutions and innovative technologies within different regions worldwide. Such efforts continue to bolster the partner network and areas of operations, which in turn provide impetus to the global footprint of MA. The recent partnership is part of its public-private partnerships strategy.
MA continues to work in unison with the governments to infuse digitization across various sectors of the economy. Mastercard remains the preferred choice of governments and private institutions owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence. In January 2022, Mastercard joined forces with the Government of Catalonia to work on a series of projects to gradually integrate digitization within the region’s economy.
Similar to the latest move to infuse digitization within Dubai, the technology company in the global payments industry has collaborated with the Dubai International Financial Centre (DIFC), one of the Dubai-based leading financial centers in the Middle East, Africa and South Asia (MEASA), in 2021. The partnership introduced the Global Cyber Forward program, which is aimed at building a reliable digital environment across the city.
Mastercard’s focus on bolstering its presence across the Emirate can be attributed to multiple factors. Notable ones include the country harboring advanced and modern technologies and high smartphone penetration rates. This makes it easier for MA to pursue digital transformation efforts and infuse digitization within the economy. Per the official portal of the United Arab Emirates (UAE) Government, multiple factors such as eCommerce developments, upgradations in the information technology infrastructure, accelerated reach of Internet services, increased usage of smartphones coupled with an active role played by the government in infusing digitization within the country position it well for a flourishing digital economy.
Backed by enhanced digital capabilities developed through tie-ups and investments, Mastercard is well-poised to capitalize on the scenario.
Shares of Mastercard have inched up 0.8% in the past six months against the industry’s decline of 13.6%. MA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Similar to Mastercard, other companies such as Visa Inc. (V - Free Report) , Global Payments Inc. (GPN - Free Report) and American Express Company (AXP - 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 ensuring 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 to extend its nationwide reach in the digital payments space.
American Express pursues a series of measures focused on technology advancements, the introduction of secure digital solutions and assistance in businesses to regulate payments. Several buyouts and partnerships pursued in the past have aided the company to bolster its digital capabilities and strengthen its global foothold.
American Express stock has gained 13.3% in the past six months . Meanwhile, shares of Visa and Global Payments have lost 0.9% and 14%, respectively, in the same time frame.