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Mastercard (MA) Unveils Google Wallet for Card Users in Malaysia
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Mastercard Incorporated (MA - Free Report) recently forged an alliance with Alphabet's (GOOGL - Free Report) subsidiary Google to introduce Google Wallet across Malaysia, whereby MA cardholders of the country’s CIMB Bank Berhad and Hong Leong Bank Berhad can enjoy its benefits.
The digital wallet comes in handy with a multi-utility facility as in it stores debit and credit card credentials, loyalty cards, boarding passes and other stuff of consumers. To avail this option, MA cardholders need to follow a definite process at one go by inserting their card details and a one-time password on the Google Wallet app. Following this set-up, they can save the Mastercard cards on their Android phones and Wear OS devices.
Soon after activation, the cardholders can utilize the wallet to conduct seamless and secure payments through their Android phones or Wear OS devices across stores that approve contactless payments. Apart from in-store payments, they can engage in web or app-based transactions.
While Malaysia’s consumers can currently enjoy the benefit of hassle-free payments attached to their Google Wallet, the provision to store other items in the same app, such as loyalty cards, will be available to them shortly.
In addition to extending the e-wallet payments facility across Malaysia, Mastercard will utilize tokenization technology to protect the country’s consumers from the perils of online payment frauds.
Mastercard Digital Enablement Service (MDES) provides a digital token to secure transactions through digital wallets with the added advantage of zero compromises on safeguarding the card details by not sharing the same.
The recent decision to launch Google Wallet in Malaysia reflects Mastercard’s efforts to offer expanded digital payment options to simplify the daily payments of the country’s consumers and gradually march toward a cashless society. The move also indicates MA’s target to occupy a significant share of the rapidly-growing digital payments market in the country.
According to the e-Conomy SEA 2022 report, the fast-evolving digital payments are anticipated to reach a gross transaction value of $200 billion within 2025.
Further, the recent unveiling seems perfectly timed as the growing adoption of digital wallets gains pace with the ease and security brought along. This August, Mastercard introduced Google Wallet in South Africa, which continues to witness a higher uptake of digital payments spurred by elevated Internet penetration and increased smartphone usage.
Shares of Mastercard have lost 4.3% in a year compared with the industry’s decline of 19.4%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Business Services space are Ritchie Bros. Auctioneers Incorporated (RBA - Free Report) and CRA International, Inc. (CRAI - Free Report) . While Ritchie Bros. sports a Zacks Rank #1 (Strong Buy), CRA International carries a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Ritchie Bros. outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 20.83%. The Zacks Consensus Estimate for RBA’s 2022 earnings suggests an improvement of 15% from the year-ago reported figure. The same for revenues suggests growth of 21% from the year-ago reported number. The consensus mark for RBA’s 2022 earnings has moved 3.7% north in the past 30 days.
CRA International’s earnings outpaced estimates in each of the trailing four quarters, the average being 25.68%. The Zacks Consensus Estimate for CRAI’s 2022 earnings suggests an improvement of 12.2% from the year-ago reported figure. The same for revenues suggests growth of 5.2% from the year-ago reported number. The consensus mark for CRAI’s 2022 earnings has moved 9.2% north in the past 30 days.
The CRA International stock has gained 15.4% in a year, while shares of Ritchie Bros. have declined 17%.
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Mastercard (MA) Unveils Google Wallet for Card Users in Malaysia
Mastercard Incorporated (MA - Free Report) recently forged an alliance with Alphabet's (GOOGL - Free Report) subsidiary Google to introduce Google Wallet across Malaysia, whereby MA cardholders of the country’s CIMB Bank Berhad and Hong Leong Bank Berhad can enjoy its benefits.
The digital wallet comes in handy with a multi-utility facility as in it stores debit and credit card credentials, loyalty cards, boarding passes and other stuff of consumers. To avail this option, MA cardholders need to follow a definite process at one go by inserting their card details and a one-time password on the Google Wallet app. Following this set-up, they can save the Mastercard cards on their Android phones and Wear OS devices.
Soon after activation, the cardholders can utilize the wallet to conduct seamless and secure payments through their Android phones or Wear OS devices across stores that approve contactless payments. Apart from in-store payments, they can engage in web or app-based transactions.
While Malaysia’s consumers can currently enjoy the benefit of hassle-free payments attached to their Google Wallet, the provision to store other items in the same app, such as loyalty cards, will be available to them shortly.
In addition to extending the e-wallet payments facility across Malaysia, Mastercard will utilize tokenization technology to protect the country’s consumers from the perils of online payment frauds.
Mastercard Digital Enablement Service (MDES) provides a digital token to secure transactions through digital wallets with the added advantage of zero compromises on safeguarding the card details by not sharing the same.
The recent decision to launch Google Wallet in Malaysia reflects Mastercard’s efforts to offer expanded digital payment options to simplify the daily payments of the country’s consumers and gradually march toward a cashless society. The move also indicates MA’s target to occupy a significant share of the rapidly-growing digital payments market in the country.
According to the e-Conomy SEA 2022 report, the fast-evolving digital payments are anticipated to reach a gross transaction value of $200 billion within 2025.
Further, the recent unveiling seems perfectly timed as the growing adoption of digital wallets gains pace with the ease and security brought along. This August, Mastercard introduced Google Wallet in South Africa, which continues to witness a higher uptake of digital payments spurred by elevated Internet penetration and increased smartphone usage.
Shares of Mastercard have lost 4.3% in a year compared with the industry’s decline of 19.4%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Business Services space are Ritchie Bros. Auctioneers Incorporated (RBA - Free Report) and CRA International, Inc. (CRAI - Free Report) . While Ritchie Bros. sports a Zacks Rank #1 (Strong Buy), CRA International carries a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Ritchie Bros. outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 20.83%. The Zacks Consensus Estimate for RBA’s 2022 earnings suggests an improvement of 15% from the year-ago reported figure. The same for revenues suggests growth of 21% from the year-ago reported number. The consensus mark for RBA’s 2022 earnings has moved 3.7% north in the past 30 days.
CRA International’s earnings outpaced estimates in each of the trailing four quarters, the average being 25.68%. The Zacks Consensus Estimate for CRAI’s 2022 earnings suggests an improvement of 12.2% from the year-ago reported figure. The same for revenues suggests growth of 5.2% from the year-ago reported number. The consensus mark for CRAI’s 2022 earnings has moved 9.2% north in the past 30 days.
The CRA International stock has gained 15.4% in a year, while shares of Ritchie Bros. have declined 17%.