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Mastercard (MA), EthSwitch to Boost Online Transfers in Ethiopia
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Mastercard Incorporated (MA - Free Report) inked a Memorandum of Understanding (“MoU”) with the national payment switch of Ethiopia, EthSwitch. Per the agreement, EthSwitch will benefit from the opportunity to utilize the technology, expertise, collaborations and cyber intelligence solutions of MA.
The collaboration with Mastercard will allow EthSwitch to bring about secure, fast, and seamless domestic and cross-border digital money transfers for Ethiopians. Such convenient money transfers will be made possible by leveraging the Mastercard Send platform, which has already proven its credibility in bringing about speedy money transfers across more than 100 markets.
Ethiopians will also gain from immediate payout capabilities of the latest partnership. The ulterior motive of the tie-up remains to boost in-demand digital remittances across Ethiopia and widen access to financial services by the country’s inhabitants.
The keen eye that Mastercard has on infusing digitization across every corner of the globe can be clearly reflected through the latest move. This time, Mastercard has selected EthSwitch as its partner for complementing the mutual motive of transforming the digital payments landscape of Ethiopia. A regional partner like EthSwitch, which has strong roots throughout Ethiopia, will equip Mastercard to gain an in-depth understanding of the particular market.
By establishing a solid footprint as a leading and reliable payment solutions provider across Ethiopia, Mastercard tends to occupy a significant share of the digital payments market in Africa. The continent continues to witness a flourishing digital economy, attributable to increased internet use, a rapidly-growing young population and higher use of smartphones.
Mastercard has often resorted to tie-ups with local financial institutions, government departments and global organizations in Ethiopia, which is one of the electronically connected East African nations. EthSwitch is one of the notable partners that has solidified MA’s presence across the country.
Prior to the latest move, which can be marked as a strengthening of the alliance between MA and EthSwitch, the latter had significantly benefited Mastercard in November 2022 as well. With the help of EthSwitch, Mastercard debit, credit and prepaid cards were accepted at all of the Automated Teller Machines of Oromia Bank across Ethiopia.
Mastercard’s innovative digital suite built on collaborations and substantial investments makes it a favorite choice for infusing digitization across several markets by financial institutions worldwide.
Shares of Mastercard have gained 4.1% in a year against the industry’s 4.2% decline. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of APi Group outpaced estimates in three of the last four quarters and matched the mark once, the average being 4.55%. The Zacks Consensus Estimate for APG’s 2023 earnings suggests an improvement of 12% from the year-ago reported figure. The same for revenues suggests growth of 4.8% from the year-ago reported number. The consensus mark for APG’s 2023 earnings has moved 7.2% north in the past 60 days.
Fiserv’s earnings outpaced estimates in two of the trailing four quarters, matched the mark once and missed the same on the remaining one occasion, the average being 0.22%. The Zacks Consensus Estimate for FISV’s 2023 earnings suggests an improvement of 12.8% from the year-ago reported figure. The same for revenues suggests growth of 6.3% from the prior-year reading. The consensus mark for FISV’s 2023 earnings has moved 1.4% north in the past 60 days.
The bottom line of Payoneer Global outpaced estimates in three of the last four quarters and missed the mark once, the average being 25.42%. The Zacks Consensus Estimate for PAYO’s 2023 earnings is pegged at 12 cents per share. A loss of 3 cents per share was reported in the prior year. The same for revenues suggests growth of 28.5% from the year-ago actuals. The consensus mark for PAYO’s 2023 earnings has moved from a loss of 7 cents per share to earnings of 12 cents over the past 60 days.
Shares of APi Group, Fiserv and Payoneer Global have gained 4.9%, 11.5%, and 28.9%, respectively, in a year.
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Mastercard (MA), EthSwitch to Boost Online Transfers in Ethiopia
Mastercard Incorporated (MA - Free Report) inked a Memorandum of Understanding (“MoU”) with the national payment switch of Ethiopia, EthSwitch. Per the agreement, EthSwitch will benefit from the opportunity to utilize the technology, expertise, collaborations and cyber intelligence solutions of MA.
The collaboration with Mastercard will allow EthSwitch to bring about secure, fast, and seamless domestic and cross-border digital money transfers for Ethiopians. Such convenient money transfers will be made possible by leveraging the Mastercard Send platform, which has already proven its credibility in bringing about speedy money transfers across more than 100 markets.
Ethiopians will also gain from immediate payout capabilities of the latest partnership. The ulterior motive of the tie-up remains to boost in-demand digital remittances across Ethiopia and widen access to financial services by the country’s inhabitants.
The keen eye that Mastercard has on infusing digitization across every corner of the globe can be clearly reflected through the latest move. This time, Mastercard has selected EthSwitch as its partner for complementing the mutual motive of transforming the digital payments landscape of Ethiopia. A regional partner like EthSwitch, which has strong roots throughout Ethiopia, will equip Mastercard to gain an in-depth understanding of the particular market.
By establishing a solid footprint as a leading and reliable payment solutions provider across Ethiopia, Mastercard tends to occupy a significant share of the digital payments market in Africa. The continent continues to witness a flourishing digital economy, attributable to increased internet use, a rapidly-growing young population and higher use of smartphones.
Mastercard has often resorted to tie-ups with local financial institutions, government departments and global organizations in Ethiopia, which is one of the electronically connected East African nations. EthSwitch is one of the notable partners that has solidified MA’s presence across the country.
Prior to the latest move, which can be marked as a strengthening of the alliance between MA and EthSwitch, the latter had significantly benefited Mastercard in November 2022 as well. With the help of EthSwitch, Mastercard debit, credit and prepaid cards were accepted at all of the Automated Teller Machines of Oromia Bank across Ethiopia.
Mastercard’s innovative digital suite built on collaborations and substantial investments makes it a favorite choice for infusing digitization across several markets by financial institutions worldwide.
Shares of Mastercard have gained 4.1% in a year against the industry’s 4.2% decline. 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) , Fiserv, Inc. and Payoneer Global Inc. (PAYO - Free Report) . While APi Group currently sports a Zacks Rank #1 (Strong Buy), Fiserv and Payoneer Global carry 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 APi Group outpaced estimates in three of the last four quarters and matched the mark once, the average being 4.55%. The Zacks Consensus Estimate for APG’s 2023 earnings suggests an improvement of 12% from the year-ago reported figure. The same for revenues suggests growth of 4.8% from the year-ago reported number. The consensus mark for APG’s 2023 earnings has moved 7.2% north in the past 60 days.
Fiserv’s earnings outpaced estimates in two of the trailing four quarters, matched the mark once and missed the same on the remaining one occasion, the average being 0.22%. The Zacks Consensus Estimate for FISV’s 2023 earnings suggests an improvement of 12.8% from the year-ago reported figure. The same for revenues suggests growth of 6.3% from the prior-year reading. The consensus mark for FISV’s 2023 earnings has moved 1.4% north in the past 60 days.
The bottom line of Payoneer Global outpaced estimates in three of the last four quarters and missed the mark once, the average being 25.42%. The Zacks Consensus Estimate for PAYO’s 2023 earnings is pegged at 12 cents per share. A loss of 3 cents per share was reported in the prior year. The same for revenues suggests growth of 28.5% from the year-ago actuals. The consensus mark for PAYO’s 2023 earnings has moved from a loss of 7 cents per share to earnings of 12 cents over the past 60 days.
Shares of APi Group, Fiserv and Payoneer Global have gained 4.9%, 11.5%, and 28.9%, respectively, in a year.