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Mastercard (MA) Brings Latest Payment Solutions to Saudi Arabia
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Mastercard Incorporated (MA - Free Report) introduced payment flows, leveraging its Mastercard Payment Gateway Services (“MPGS”) technology, for upgrading online payment solutions across Saudi Arabia. The power of MA’s Payment Gateway technology equips businesses to adopt up-to-date digital payment methods, without suffering from the intricacies of embracing new payment technologies.
Mastercard’s endeavor to simplify the digital payments landscape of Saudi Arabia will be backed by two other companies occupying a significant presence in the payments industry of the country — Amazon Payment Services and Checkout.com. Their collective efforts aim to extend enhanced payment solutions to domestic e-commerce merchants.
The new solutions are likely to prove a blessing in disguise for the domestic payment network of Saudi Arabia — mada, which is operated by Saudi Payments. A diversified array of recurring transactions can be conducted by merchants through the network, ranging from membership payments, subscriptions and automated bill payments to other business flows.
Since recurring payments have to be made at regular intervals, the MA technology-backed solutions will automate payments and remove the necessity of payer presence on the website or app. This, in turn, is expected to lead to accelerated checkout experiences for consumers.
The strength of MPGS will enable merchants to comply with Saudi Payments rules so that all domestic transactions can be executed through mada. With innovative payment processing and fraud prevention prowess offered by MPGS, merchants that accept mada cards will enjoy reduced chances of fraud, higher approval rates and lesser instances of preventable payment declines. All these factors will contribute to boosting merchant revenues.
For use in future transactions, merchants are equipped with the ability to save the mada card credentials of consumers, which will remain confidential, even in case of a potential breach.
The latest move reflects Mastercard’s uninterrupted efforts to expand digital payment options to simplify payments of merchants and consumers of Saudi Arabia. The broader motive of Mastercard in establishing a strong presence across the Middle East region can be clearly reflected through its latest move of delving into one of the region’s countries.
The Middle East continues to witness a booming digital economy, driven by factors such as increased Internet penetration and higher use of smartphones. Thereby, Mastercard, backed with an innovative digital suite, is keeping an eye on capturing the digital growth prospects of the region.
Shares of Mastercard have gained 3.2% in a year against the industry’s 2.7% decline. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Interpublic Group outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 8.23%. The Zacks Consensus Estimate for IPG’s 2023 earnings suggests an improvement of 0.7% from the year-ago reported figure. The same for revenues suggests growth of 9% from the year-ago reported number. The consensus mark for IPG’s 2023 earnings has moved 2.6% north in the past 30 days.
Omincom’s earnings outpaced estimates in each of the trailing four quarters, the average being 7.99%. The Zacks Consensus Estimate for OMC’s 2023 earnings suggests an improvement of 3.2% from the year-ago reported figure. The same for revenues suggests growth of 2.7% from the year-ago reported number. The consensus mark for OMC’s 2023 earnings has moved 11.1% north in the past 30 days.
The bottom line of Fiserv outpaced estimates in two of the last four quarters, met the mark once and missed the same on the remaining one occasion, the average beat being 0.22%. The Zacks Consensus Estimate for FISV’s 2023 earnings suggests an improvement of 12.6% from the year-ago reported figure. The same for revenues suggests growth of 6.3% from the year-ago reported number. The consensus mark for FISV’s 2023 earnings has moved 1.1% north in the past 30 days.
Shares of Omnicom and Fiserv have gained 8.2% and 16.6%, respectively, in a year. However, the Interpublic Group stock has lost 2.4% in the same time frame.
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Mastercard (MA) Brings Latest Payment Solutions to Saudi Arabia
Mastercard Incorporated (MA - Free Report) introduced payment flows, leveraging its Mastercard Payment Gateway Services (“MPGS”) technology, for upgrading online payment solutions across Saudi Arabia. The power of MA’s Payment Gateway technology equips businesses to adopt up-to-date digital payment methods, without suffering from the intricacies of embracing new payment technologies.
Mastercard’s endeavor to simplify the digital payments landscape of Saudi Arabia will be backed by two other companies occupying a significant presence in the payments industry of the country — Amazon Payment Services and Checkout.com. Their collective efforts aim to extend enhanced payment solutions to domestic e-commerce merchants.
The new solutions are likely to prove a blessing in disguise for the domestic payment network of Saudi Arabia — mada, which is operated by Saudi Payments. A diversified array of recurring transactions can be conducted by merchants through the network, ranging from membership payments, subscriptions and automated bill payments to other business flows.
Since recurring payments have to be made at regular intervals, the MA technology-backed solutions will automate payments and remove the necessity of payer presence on the website or app. This, in turn, is expected to lead to accelerated checkout experiences for consumers.
The strength of MPGS will enable merchants to comply with Saudi Payments rules so that all domestic transactions can be executed through mada. With innovative payment processing and fraud prevention prowess offered by MPGS, merchants that accept mada cards will enjoy reduced chances of fraud, higher approval rates and lesser instances of preventable payment declines. All these factors will contribute to boosting merchant revenues.
For use in future transactions, merchants are equipped with the ability to save the mada card credentials of consumers, which will remain confidential, even in case of a potential breach.
The latest move reflects Mastercard’s uninterrupted efforts to expand digital payment options to simplify payments of merchants and consumers of Saudi Arabia. The broader motive of Mastercard in establishing a strong presence across the Middle East region can be clearly reflected through its latest move of delving into one of the region’s countries.
The Middle East continues to witness a booming digital economy, driven by factors such as increased Internet penetration and higher use of smartphones. Thereby, Mastercard, backed with an innovative digital suite, is keeping an eye on capturing the digital growth prospects of the region.
Shares of Mastercard have gained 3.2% in a year against the industry’s 2.7% decline. MA currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Business Services space are The Interpublic Group of Companies, Inc. (IPG - Free Report) , Omnicom Group Inc. (OMC - Free Report) and Fiserv, Inc. . While Interpublic Group and Omnicom sport a Zacks Rank #1 (Strong Buy), Fiserv carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Interpublic Group outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 8.23%. The Zacks Consensus Estimate for IPG’s 2023 earnings suggests an improvement of 0.7% from the year-ago reported figure. The same for revenues suggests growth of 9% from the year-ago reported number. The consensus mark for IPG’s 2023 earnings has moved 2.6% north in the past 30 days.
Omincom’s earnings outpaced estimates in each of the trailing four quarters, the average being 7.99%. The Zacks Consensus Estimate for OMC’s 2023 earnings suggests an improvement of 3.2% from the year-ago reported figure. The same for revenues suggests growth of 2.7% from the year-ago reported number. The consensus mark for OMC’s 2023 earnings has moved 11.1% north in the past 30 days.
The bottom line of Fiserv outpaced estimates in two of the last four quarters, met the mark once and missed the same on the remaining one occasion, the average beat being 0.22%. The Zacks Consensus Estimate for FISV’s 2023 earnings suggests an improvement of 12.6% from the year-ago reported figure. The same for revenues suggests growth of 6.3% from the year-ago reported number. The consensus mark for FISV’s 2023 earnings has moved 1.1% north in the past 30 days.
Shares of Omnicom and Fiserv have gained 8.2% and 16.6%, respectively, in a year. However, the Interpublic Group stock has lost 2.4% in the same time frame.