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Mastercard (MA), NymCard to Aid UAE Fintechs Issue MA Cards
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Mastercard Incorporated (MA - Free Report) recently welcomed NymCard — a plug-and-play banking-as-a-service (BaaS) provider of the Middle East and North Africa (MENA) region — as the Principal Mastercard Issuer across the United Arab Emirates (UAE). The move marks the first time a UAE fintech has been offered a license to issue Mastercard-branded cards.
Shares of Mastercard gained 0.6% on Jun 17.
Following obtaining a license from Mastercard, NymCard will be able to extend open and modern APIs to fintechs and digital partners in the UAE. Supported by NymCard, fintechs, xTechs, startups, enterprises, and financial institutions will be able to issue Mastercard cards and ramp up their business models by leveraging the advanced BaaS infrastructure of NymCard. Meanwhile, NymCard will assist digital partners to rapidly commence operations within a couple of weeks.
Initiatives similar to the latest one highlight Mastercard’s continuous efforts to enter into collaborations with various fintech players to bring several businesses and individuals under the ambit of a booming digital economy. The recent tie-up with NymCard will offer Mastercard the opportunity to extend cutting-edge and scalable payment technology solutions to the region’s fintechs. Subsequently, fintechs can leverage the widespread network of Mastercard and swiftly and seamlessly issue their own cards.
License extension by Mastercard to NymCard reinforces MA’s endeavor to contribute to the rapidly growing fintech market, where there is a significant need to devise and launch enhanced payment programs. The UAE’s vision to emerge as a global fintech hub makes the move time opportune. NymCard seems to be the apt partner for complementing Mastercard’s goal since it provides the necessary infrastructure to fintechs and other industry innovators through which they can bolster their payment programs across several markets in a hassle-free way.
Mastercard remains the preferred choice of fintechs owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence. Thereby, MA remains in a perfect position to capitalize on the significant growth prospects prevailing amid the worldwide fintech market. Per the market research reports provider Valuates, the market is anticipated to witness a CAGR of 13.9% over the 2022-2028 period. Mastercard continues to pursue a strategy of entering into partnerships with fintechs and undertaking significant investments to drive digitization globally. Teaming up with fintechs has bolstered the global presence of the technology company in the global payments industry.
Shares of Mastercard have lost 13.5% year to date compared with the industry’s decline of 16.6%. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Huron Consulting outpaced estimates in each of the trailing four quarters, the average surprise being 29.97%. The Zacks Consensus Estimate for HURN’s 2022 earnings suggests an improvement of 22.6% from the year-ago reported figure. The same for revenues suggests year-over-year growth of 13.5%. The consensus mark for Huron Consulting’s 2022 earnings has moved 5.3% north in the past 60 days.
FTI Consulting’s earnings outpaced estimates in three of the trailing four quarters and missed once, the average surprise being 24.40%. The Zacks Consensus Estimate for FCN’s 2022 earnings suggests an improvement of 1.6% from the year-ago reported figure. The same for revenues suggests growth of 6.2%. The consensus mark for FTI Consulting’s 2022 earnings has moved 0.9% north in the past 60 days.
The bottom line of Green Dot outpaced estimates in three of the last four quarters and missed once, the average surprise being 20.50%. The Zacks Consensus Estimate for GDOT’s 2022 earnings suggests an improvement of 8.6% from the year-ago reported figure. The same for revenues suggests growth of 2.3% from a year ago. The consensus mark for Green Dot’s 2022 earnings has moved 6.2% north in the past 60 days.
Shares of Huron Consulting and FTI Consulting have gained 17.7% and 6.8%, respectively, year to date. Meanwhile, Automatic Data Processing stock has lost 36.1% in the same time frame.
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Mastercard (MA), NymCard to Aid UAE Fintechs Issue MA Cards
Mastercard Incorporated (MA - Free Report) recently welcomed NymCard — a plug-and-play banking-as-a-service (BaaS) provider of the Middle East and North Africa (MENA) region — as the Principal Mastercard Issuer across the United Arab Emirates (UAE). The move marks the first time a UAE fintech has been offered a license to issue Mastercard-branded cards.
Shares of Mastercard gained 0.6% on Jun 17.
Following obtaining a license from Mastercard, NymCard will be able to extend open and modern APIs to fintechs and digital partners in the UAE. Supported by NymCard, fintechs, xTechs, startups, enterprises, and financial institutions will be able to issue Mastercard cards and ramp up their business models by leveraging the advanced BaaS infrastructure of NymCard. Meanwhile, NymCard will assist digital partners to rapidly commence operations within a couple of weeks.
Initiatives similar to the latest one highlight Mastercard’s continuous efforts to enter into collaborations with various fintech players to bring several businesses and individuals under the ambit of a booming digital economy. The recent tie-up with NymCard will offer Mastercard the opportunity to extend cutting-edge and scalable payment technology solutions to the region’s fintechs. Subsequently, fintechs can leverage the widespread network of Mastercard and swiftly and seamlessly issue their own cards.
License extension by Mastercard to NymCard reinforces MA’s endeavor to contribute to the rapidly growing fintech market, where there is a significant need to devise and launch enhanced payment programs. The UAE’s vision to emerge as a global fintech hub makes the move time opportune. NymCard seems to be the apt partner for complementing Mastercard’s goal since it provides the necessary infrastructure to fintechs and other industry innovators through which they can bolster their payment programs across several markets in a hassle-free way.
Mastercard remains the preferred choice of fintechs owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence. Thereby, MA remains in a perfect position to capitalize on the significant growth prospects prevailing amid the worldwide fintech market. Per the market research reports provider Valuates, the market is anticipated to witness a CAGR of 13.9% over the 2022-2028 period. Mastercard continues to pursue a strategy of entering into partnerships with fintechs and undertaking significant investments to drive digitization globally. Teaming up with fintechs has bolstered the global presence of the technology company in the global payments industry.
Shares of Mastercard have lost 13.5% year to date compared with the industry’s decline of 16.6%. MA currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Business Services space include Huron Consulting Group Inc. (HURN - Free Report) , FTI Consulting, Inc. (FCN - Free Report) and Green Dot Corporation (GDOT - Free Report) . While Huron Consulting currently flaunts a Zacks Rank #1 (Strong Buy), FTI Consulting and Green Dot carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Huron Consulting outpaced estimates in each of the trailing four quarters, the average surprise being 29.97%. The Zacks Consensus Estimate for HURN’s 2022 earnings suggests an improvement of 22.6% from the year-ago reported figure. The same for revenues suggests year-over-year growth of 13.5%. The consensus mark for Huron Consulting’s 2022 earnings has moved 5.3% north in the past 60 days.
FTI Consulting’s earnings outpaced estimates in three of the trailing four quarters and missed once, the average surprise being 24.40%. The Zacks Consensus Estimate for FCN’s 2022 earnings suggests an improvement of 1.6% from the year-ago reported figure. The same for revenues suggests growth of 6.2%. The consensus mark for FTI Consulting’s 2022 earnings has moved 0.9% north in the past 60 days.
The bottom line of Green Dot outpaced estimates in three of the last four quarters and missed once, the average surprise being 20.50%. The Zacks Consensus Estimate for GDOT’s 2022 earnings suggests an improvement of 8.6% from the year-ago reported figure. The same for revenues suggests growth of 2.3% from a year ago. The consensus mark for Green Dot’s 2022 earnings has moved 6.2% north in the past 60 days.
Shares of Huron Consulting and FTI Consulting have gained 17.7% and 6.8%, respectively, year to date. Meanwhile, Automatic Data Processing stock has lost 36.1% in the same time frame.