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Mastercard (MA) Enters Tie-Ups to Solidify Its MENA Presence
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Mastercard Incorporated (MA - Free Report) undertook an array of partnerships with tech-based companies of the Middle East and North Africa ("MENA") in a bid to solidify its presence across the region. Its shares gained 0.4% on Jun 21.
The first tie-up of MA relates to the one with the reputed Cards as a Service platform, SimpliFi. As part of this collaboration, the cutting-edge technology of SimpliFi will extend a helping hand in enabling a diversified set of businesses in the region to seamlessly launch Mastercard-backed payment products and services across the market.
SimpliFi’s technology capabilities will further take care of the headwinds associated with such initiatives which often exhaust substantial time as well as expenses on the part of the business. At the same time, the partnership will lead to increased usage of Mastercard’s products suite, which in turn, is likely to aid its payment network revenues. Providing access to innovative payment solutions suite also reflects the tech giant’s endeavor to bring more businesses under the ambit of a booming digital economy.
Concurrent with the SimpliFi partnership, Mastercard also teamed up with Kuwait’s digital transformation and innovation company, One Global, and the leading payment switch of Pakistan, 1LINK Pvt. Limited.
By forming an alliance with One Global, Mastercard unveiled its online checkout platform, Click to Pay (“C2P”), throughout Kuwait. After Kuwait, One Global plans to roll out the service to other countries as well. The service assures to provide smooth payment outcomes for merchants and consumers. Thus C2P guarantees an enhanced, seamless and secure checkout experience without the need of inputing card credentials or saving the confidential data of consumers with different merchants.
The benefits of the payment service can be reaped while buying digital gift cards and gaming vouchers. It can also be utilized to conduct bill payments on one of the vertical markets of One Global - Og Money. Mastercard seems to be prudent in choosing One Global as its partner for launching C2P since the latter has a widespread presence across the MENA region.
The collaboration with 1LINK bears testament to Mastercard’s intensified focus to harness the promising digital growth prospects of Pakistan. The power of MA’s innovative technologies will be combined with the solid market footprint of 1LINK to launch upgraded payment solutions for the benefit of the country’s consumers and businesses.
Mastercard remains on a spree with respect to efforts in the form of partnerships with tech platforms or undertaking significant investments to strengthen its MENA footprint. MA’s keen eye on the region is due to its rapidly growing digital economy, spurred by increased Internet penetration and higher usage of smartphones. This provides a perfect opportunity for the tech giant to drive digitization in the region’s payments ecosystem through its suite of affordable payment solutions.
Shares of Mastercard have gained 18.8% in a year compared with the industry’s 7.8% growth. MA currently has a Zacks Rank #3 (Hold).
The bottom line of SPX Technologies outpaced estimates in each of the last four quarters, the average beat being 28.38%. The Zacks Consensus Estimate for SPXC’s 2023 earnings suggests an improvement of 28.7% from the year-ago reported figure. The same for revenues suggests growth of 17% from the prior-year figure. The consensus mark for SPXC’s 2023 earnings has moved 1.8% north in the past 30 days.
Brink’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 11.74%. The Zacks Consensus Estimate for BCO’s 2023 earnings suggests an improvement of 13.5% from the prior-year reported figure. The same for revenues suggests growth of 7.5% from the 2022 figure. The consensus mark for BCO’s 2023 earnings has moved 2.4% north in the past 60 days.
The bottom line of Interpublic Group outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 9.50%. The Zacks Consensus Estimate for IPG’s 2023 earnings suggests an improvement of 7.6% from the year-ago reported figure. The consensus mark for IPG’s 2023 earnings has moved 3.9% north in the past 60 days.
Shares of SPX Technologies, Brink’s and Interpublic Group have gained 56%, 24.2% and 46.8%, respectively, in a year.
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Mastercard (MA) Enters Tie-Ups to Solidify Its MENA Presence
Mastercard Incorporated (MA - Free Report) undertook an array of partnerships with tech-based companies of the Middle East and North Africa ("MENA") in a bid to solidify its presence across the region. Its shares gained 0.4% on Jun 21.
The first tie-up of MA relates to the one with the reputed Cards as a Service platform, SimpliFi. As part of this collaboration, the cutting-edge technology of SimpliFi will extend a helping hand in enabling a diversified set of businesses in the region to seamlessly launch Mastercard-backed payment products and services across the market.
SimpliFi’s technology capabilities will further take care of the headwinds associated with such initiatives which often exhaust substantial time as well as expenses on the part of the business. At the same time, the partnership will lead to increased usage of Mastercard’s products suite, which in turn, is likely to aid its payment network revenues. Providing access to innovative payment solutions suite also reflects the tech giant’s endeavor to bring more businesses under the ambit of a booming digital economy.
Concurrent with the SimpliFi partnership, Mastercard also teamed up with Kuwait’s digital transformation and innovation company, One Global, and the leading payment switch of Pakistan, 1LINK Pvt. Limited.
By forming an alliance with One Global, Mastercard unveiled its online checkout platform, Click to Pay (“C2P”), throughout Kuwait. After Kuwait, One Global plans to roll out the service to other countries as well. The service assures to provide smooth payment outcomes for merchants and consumers. Thus C2P guarantees an enhanced, seamless and secure checkout experience without the need of inputing card credentials or saving the confidential data of consumers with different merchants.
The benefits of the payment service can be reaped while buying digital gift cards and gaming vouchers. It can also be utilized to conduct bill payments on one of the vertical markets of One Global - Og Money. Mastercard seems to be prudent in choosing One Global as its partner for launching C2P since the latter has a widespread presence across the MENA region.
The collaboration with 1LINK bears testament to Mastercard’s intensified focus to harness the promising digital growth prospects of Pakistan. The power of MA’s innovative technologies will be combined with the solid market footprint of 1LINK to launch upgraded payment solutions for the benefit of the country’s consumers and businesses.
Mastercard remains on a spree with respect to efforts in the form of partnerships with tech platforms or undertaking significant investments to strengthen its MENA footprint. MA’s keen eye on the region is due to its rapidly growing digital economy, spurred by increased Internet penetration and higher usage of smartphones. This provides a perfect opportunity for the tech giant to drive digitization in the region’s payments ecosystem through its suite of affordable payment solutions.
Shares of Mastercard have gained 18.8% in a year compared with the industry’s 7.8% growth. MA currently has a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Business Services space are SPX Technologies, Inc. (SPXC - Free Report) , The Brink's Company (BCO - Free Report) and The Interpublic Group of Companies, Inc. (IPG - Free Report) . SPX Technologies currently sports a Zacks Rank #1 (Strong Buy), and Brink’s and Interpublic Group carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of SPX Technologies outpaced estimates in each of the last four quarters, the average beat being 28.38%. The Zacks Consensus Estimate for SPXC’s 2023 earnings suggests an improvement of 28.7% from the year-ago reported figure. The same for revenues suggests growth of 17% from the prior-year figure. The consensus mark for SPXC’s 2023 earnings has moved 1.8% north in the past 30 days.
Brink’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 11.74%. The Zacks Consensus Estimate for BCO’s 2023 earnings suggests an improvement of 13.5% from the prior-year reported figure. The same for revenues suggests growth of 7.5% from the 2022 figure. The consensus mark for BCO’s 2023 earnings has moved 2.4% north in the past 60 days.
The bottom line of Interpublic Group outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 9.50%. The Zacks Consensus Estimate for IPG’s 2023 earnings suggests an improvement of 7.6% from the year-ago reported figure. The consensus mark for IPG’s 2023 earnings has moved 3.9% north in the past 60 days.
Shares of SPX Technologies, Brink’s and Interpublic Group have gained 56%, 24.2% and 46.8%, respectively, in a year.