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Mastercard (MA) Inks MoU to Ease Caribbean Cross-Border Transfers
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Mastercard Incorporated (MA - Free Report) recently inked a Memorandum of Understanding (“MoU”) with the Caribbean Association of Banks Inc. (“CAB”), the representative body of banks and other financial institutions in the region.
Shares of Mastercard declined 1.1% on Jun 13, replicating declines in broader markets.
The partnership with the CAB provides an opportunity to Mastercard to leverage its technology, expertise and resources for the seamless integration of Mastercard Cross-Border Services within the product suite of Caribbean banks. Simultaneously, the tech giant will also make its knowledge and educational platforms available to the region’s citizens and small business owners. This, in turn, is likely to make them acquainted with the benefits of using MA’s cross-border services offering and other digital financial tools.
The ulterior move behind the collaboration remains to extend advanced financial services and pave the way for seamless cross-border payments for customers across the member jurisdictions of the CAB. A diversified client base comprising consumers, small and medium-sized enterprises, government agencies and commercial entities can reap the benefits of faster and more reliable cross-border money transfers.
Mastercard also intends to complement one of its longstanding endeavors through the latest move, which is to bring the unbanked and the underbanked within the ambit of a booming digital economy.
By extending solutions tailored to meet the specific needs of markets in different parts of the world, Mastercard has successfully established a solid foothold across the global digital payments market. An expanding digital economy spurred by increased Internet penetration and higher adoption of mobile phones might have lured Mastercard to delve deeper into the region via the MoU.
The recent tie-up seems to be a tmely move on the part of Mastercard and will further solidify the footprint of the tech giant in the Caribbean region. Concerns related to intra and inter-regional payments, the high cost of fund transfer and multiple intricacies in the way of making cross-border payments across the CAB jurisdictions make an affordable and tech-based solution the need of the hour for Caribbean people.
Mastercard’s innovative digital suite built on collaborations and substantial investments makes it the preferred choice for infusing digitization across several markets by financial institutions worldwide.
In April 2023, MA inked a MoU with the national payment switch of Ethiopia, EthSwitch, to enable the latter bring about secure, fast as well as seamless domestic and cross-border digital money transfers across the country through leveraging the Mastercard Send platform.
Shares of Mastercard have gained 14.2% in a year, compared with the industry’s 6.3% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Rollins outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 5.53%. The Zacks Consensus Estimate for ROL’s 2023 earnings suggests an improvement of 13.3% from the year-ago reported figure. The same for revenues suggests growth of 11.5% from the year-ago reported number. The consensus mark for ROL’s 2023 earnings has moved 4.9% north in the past 60 days.
Exponent’s earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 7.70%. The Zacks Consensus Estimate for EXPO’s 2023 earnings suggests an improvement of 7.1% from the year-ago reported figure. The same for revenues suggests growth of 10.4% from the prior-year reading. The consensus mark for EXPO’s 2023 earnings has moved 1% north in the past 60 days.
The bottom line of Trane Technologies outpaced estimates in each of the last four quarters, the average surprise being 6.74%. The Zacks Consensus Estimate for TT’s 2023 earnings suggests an improvement of 14.5% from the year-ago reported figure. The same for revenues suggests growth of 9% from the year-ago reported number. The consensus mark for TT’s 2023 earnings has moved 2.4% north in the past 60 days.
Shares of Rollins, Exponent and Trane Technologies have gained 24.7%, 17.7%, and 41.6%, respectively, in a year.
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Mastercard (MA) Inks MoU to Ease Caribbean Cross-Border Transfers
Mastercard Incorporated (MA - Free Report) recently inked a Memorandum of Understanding (“MoU”) with the Caribbean Association of Banks Inc. (“CAB”), the representative body of banks and other financial institutions in the region.
Shares of Mastercard declined 1.1% on Jun 13, replicating declines in broader markets.
The partnership with the CAB provides an opportunity to Mastercard to leverage its technology, expertise and resources for the seamless integration of Mastercard Cross-Border Services within the product suite of Caribbean banks. Simultaneously, the tech giant will also make its knowledge and educational platforms available to the region’s citizens and small business owners. This, in turn, is likely to make them acquainted with the benefits of using MA’s cross-border services offering and other digital financial tools.
The ulterior move behind the collaboration remains to extend advanced financial services and pave the way for seamless cross-border payments for customers across the member jurisdictions of the CAB. A diversified client base comprising consumers, small and medium-sized enterprises, government agencies and commercial entities can reap the benefits of faster and more reliable cross-border money transfers.
Mastercard also intends to complement one of its longstanding endeavors through the latest move, which is to bring the unbanked and the underbanked within the ambit of a booming digital economy.
By extending solutions tailored to meet the specific needs of markets in different parts of the world, Mastercard has successfully established a solid foothold across the global digital payments market. An expanding digital economy spurred by increased Internet penetration and higher adoption of mobile phones might have lured Mastercard to delve deeper into the region via the MoU.
The recent tie-up seems to be a tmely move on the part of Mastercard and will further solidify the footprint of the tech giant in the Caribbean region. Concerns related to intra and inter-regional payments, the high cost of fund transfer and multiple intricacies in the way of making cross-border payments across the CAB jurisdictions make an affordable and tech-based solution the need of the hour for Caribbean people.
Mastercard’s innovative digital suite built on collaborations and substantial investments makes it the preferred choice for infusing digitization across several markets by financial institutions worldwide.
In April 2023, MA inked a MoU with the national payment switch of Ethiopia, EthSwitch, to enable the latter bring about secure, fast as well as seamless domestic and cross-border digital money transfers across the country through leveraging the Mastercard Send platform.
Shares of Mastercard have gained 14.2% in a year, compared with the industry’s 6.3% 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 Rollins, Inc. (ROL - Free Report) , Exponent, Inc. (EXPO - Free Report) and Trane Technologies plc (TT - Free Report) . While Rollins sports a Zacks Rank #1 (Strong Buy), Exponent and Trane Technologies each 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 Rollins outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 5.53%. The Zacks Consensus Estimate for ROL’s 2023 earnings suggests an improvement of 13.3% from the year-ago reported figure. The same for revenues suggests growth of 11.5% from the year-ago reported number. The consensus mark for ROL’s 2023 earnings has moved 4.9% north in the past 60 days.
Exponent’s earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 7.70%. The Zacks Consensus Estimate for EXPO’s 2023 earnings suggests an improvement of 7.1% from the year-ago reported figure. The same for revenues suggests growth of 10.4% from the prior-year reading. The consensus mark for EXPO’s 2023 earnings has moved 1% north in the past 60 days.
The bottom line of Trane Technologies outpaced estimates in each of the last four quarters, the average surprise being 6.74%. The Zacks Consensus Estimate for TT’s 2023 earnings suggests an improvement of 14.5% from the year-ago reported figure. The same for revenues suggests growth of 9% from the year-ago reported number. The consensus mark for TT’s 2023 earnings has moved 2.4% north in the past 60 days.
Shares of Rollins, Exponent and Trane Technologies have gained 24.7%, 17.7%, and 41.6%, respectively, in a year.