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Mastercard (MA) Renews Tie-Up for Safe Digital Payments in Egypt
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Mastercard Incorporated (MA - Free Report) recently solidified its longstanding ties with The National Bank of Egypt (“NBE”) in a bid to extend innovative and secure digital payment solutions to Egyptians. The renewal of the partnership also aims to drive digital transformation efforts in the country.
The recent tie-up will enable Mastercard to leverage the strength of its multi-rail digital payment technologies to provide new acceptance solutions in Egypt, thereby making way for accelerated and safe digital payments. MA also strives to upgrade its digital payment solutions already in use across the country such as Tap-on-Phone, payment bracelets and microcredit programs for small and medium-sized enterprises ("SMEs").
The latest move reflects Mastercard’s continuous efforts to strengthen its footprint as a leading technology provider throughout Egypt. By expanding its suite of digital payments across the country, MA keeps an eye to relieve unbanked and underbanked consumers from inadequate access to the digital ecosystem.
Undoubtedly, the African nation seems to have seriously lured the global digital payment processor – Mastercard, clearly evident by its numerous initiatives in the form of partnerships or investments within the country. Egypt continues to witness a booming digital economy, thanks to its increased Internet adoption, a rapidly-growing young population and higher usage of smartphones.
In February 2023, Mastercard teamed up with Egypt’s first-of-its-kind digital payment solutions app designed for families – Copal to introduce the country’s first payment platform enabling parents to manage the finances of their children. Last year, MA increased the number of experts in its Advisors Client Services Hub in the country, which was established back in 2019 to infuse digitization within Egypt.
Mastercard continues to delve deeper into nations with promising digital transformation scope and a solid digital suite built on collaborations and substantial investments provides an impetus to tap worldwide digital growth prospects.
MA does not remain content with only rolling out enhanced digital solutions and services to address the growing need for diversified and updated payment methods across the globe. It also remains equipped with effective fraud prevention services to counter cybercrimes, which are often simultaneous with the widespread adoption of digital means.
Concurrently with the NBE partnership renewal, Mastercard also announced another alliance with GIACT, which is a London Stock Exchange Group business. In the tie-up, MA’s Open Banking capabilities will be utilized for modernizing the account verification capabilities of GIACT and thereby, reduce the risk of fraud for its customers.
Shares of Mastercard have gained 9.7% in a year compared with the industry’s 4.3% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of APi outpaced the Zacks Consensus Estimate in three of the last four quarters and matched the mark once, the average beat being 4.55%. The Zacks Consensus Estimate for APG’s 2023 earnings and revenues suggest an improvement of 12% and 4.8%, respectively, from the year-ago reported figure.
The Zacks Consensus Estimate for APG’s 2023 earnings has moved 7.2% north in the past seven days. Shares of the company have gained 13% in a year.
The bottom line of Huron Consulting outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average being 21.86%. The Zacks Consensus Estimate for HURN’s 2023 earnings and revenues indicate growth of 17.5% and 10.3%, respectively, from the year-ago reported figure.
The Zacks Consensus Estimate for HURN’s 2023 earnings has moved 1.8% north in the past seven days. Shares of the company have soared 70.7% in a year.
Inspired Entertainment’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average surprise being 19.02%. The Zacks Consensus Estimate for INSE’s 2023 earnings is pegged at 91 cents per share. A loss of $1.09 per share was reported in the prior year. The same for revenues suggest an improvement of 32.2% from the year-ago reported figure.
The Zacks Consensus Estimate for INSE’s 2023 earnings has moved 1.1% north in the past 60 days. Shares of the company have gained 35.8% in a year.
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Mastercard (MA) Renews Tie-Up for Safe Digital Payments in Egypt
Mastercard Incorporated (MA - Free Report) recently solidified its longstanding ties with The National Bank of Egypt (“NBE”) in a bid to extend innovative and secure digital payment solutions to Egyptians. The renewal of the partnership also aims to drive digital transformation efforts in the country.
The recent tie-up will enable Mastercard to leverage the strength of its multi-rail digital payment technologies to provide new acceptance solutions in Egypt, thereby making way for accelerated and safe digital payments. MA also strives to upgrade its digital payment solutions already in use across the country such as Tap-on-Phone, payment bracelets and microcredit programs for small and medium-sized enterprises ("SMEs").
The latest move reflects Mastercard’s continuous efforts to strengthen its footprint as a leading technology provider throughout Egypt. By expanding its suite of digital payments across the country, MA keeps an eye to relieve unbanked and underbanked consumers from inadequate access to the digital ecosystem.
Undoubtedly, the African nation seems to have seriously lured the global digital payment processor – Mastercard, clearly evident by its numerous initiatives in the form of partnerships or investments within the country. Egypt continues to witness a booming digital economy, thanks to its increased Internet adoption, a rapidly-growing young population and higher usage of smartphones.
In February 2023, Mastercard teamed up with Egypt’s first-of-its-kind digital payment solutions app designed for families – Copal to introduce the country’s first payment platform enabling parents to manage the finances of their children. Last year, MA increased the number of experts in its Advisors Client Services Hub in the country, which was established back in 2019 to infuse digitization within Egypt.
Mastercard continues to delve deeper into nations with promising digital transformation scope and a solid digital suite built on collaborations and substantial investments provides an impetus to tap worldwide digital growth prospects.
MA does not remain content with only rolling out enhanced digital solutions and services to address the growing need for diversified and updated payment methods across the globe. It also remains equipped with effective fraud prevention services to counter cybercrimes, which are often simultaneous with the widespread adoption of digital means.
Concurrently with the NBE partnership renewal, Mastercard also announced another alliance with GIACT, which is a London Stock Exchange Group business. In the tie-up, MA’s Open Banking capabilities will be utilized for modernizing the account verification capabilities of GIACT and thereby, reduce the risk of fraud for its customers.
Shares of Mastercard have gained 9.7% in a year compared with the industry’s 4.3% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Business Services space are APi Group Corporation (APG - Free Report) , Huron Consulting Group Inc. (HURN - Free Report) and Inspired Entertainment, Inc. (INSE - Free Report) . While APi and Inspired Entertainment sports a Zacks Rank #1 (Strong Buy), Huron Consulting carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of APi outpaced the Zacks Consensus Estimate in three of the last four quarters and matched the mark once, the average beat being 4.55%. The Zacks Consensus Estimate for APG’s 2023 earnings and revenues suggest an improvement of 12% and 4.8%, respectively, from the year-ago reported figure.
The Zacks Consensus Estimate for APG’s 2023 earnings has moved 7.2% north in the past seven days. Shares of the company have gained 13% in a year.
The bottom line of Huron Consulting outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average being 21.86%. The Zacks Consensus Estimate for HURN’s 2023 earnings and revenues indicate growth of 17.5% and 10.3%, respectively, from the year-ago reported figure.
The Zacks Consensus Estimate for HURN’s 2023 earnings has moved 1.8% north in the past seven days. Shares of the company have soared 70.7% in a year.
Inspired Entertainment’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average surprise being 19.02%. The Zacks Consensus Estimate for INSE’s 2023 earnings is pegged at 91 cents per share. A loss of $1.09 per share was reported in the prior year. The same for revenues suggest an improvement of 32.2% from the year-ago reported figure.
The Zacks Consensus Estimate for INSE’s 2023 earnings has moved 1.1% north in the past 60 days. Shares of the company have gained 35.8% in a year.