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Mastercard (MA) Rolls Out Solution to Ease Subscription Cancellation
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Mastercard Incorporated (MA - Free Report) teamed up with the Danish fintech, Subaio, to introduce a solution that imparts greater control and flexibility to consumers in making informed financial decisions about subscription payments. The solution has been made available to banks across North America and Europe.
Powered by a single API, the Mastercard solution enables consumers to identify and manage their required subscriptions and most importantly, cancels subscriptions that are not required from their bank’s digital apps. The hassles associated with switching between apps while unsubscribing from services are addressed by the solution.
In addition to greater control, the recent launch will also enable consumers to take a glance at digital receipts and merchant information, thereby presenting a clear picture of their monthly expenditures and easing the digital financial journey.
Apart from being of great use to consumers, the solution will fetch numerous benefits to financial institutions, issuers and merchants as well. The effectiveness of this Mastercard solution is expected to minimize operational expenses for financial institutions while merchants and issuers can get relief from the costs related to disputes and establish strong connections with customers.
The latest tie-up with Subaio reflects Mastercard’s sincere efforts to unveil advanced and seamless customer-focused solutions across different parts of the globe. And the well-established subscription management service of Subaio makes it the apt partner to complement MA’s endeavor. In fact, the tech giant extended a helping hand to Subaio by choosing it as a participant in the Mastercard Start Path Program in 2020.
Moves similar to the latest one are likely to empower Mastercard in harnessing potential growth prospects of the global subscription economy. A booming digital era and the emergence of advanced technologies might have triggered the growing inclination of consumers toward utilizing subscription-based products and have led to the current situation wherein they own a significant number of subscriptions.
In February 2023, MA rolled out innovative payment solutions backed with the power of Mastercard Payment Gateway Services across Saudi Arabia and empowered the country’s merchants to conduct a diversified array of recurring transactions. Since recurring payments have to be made at regular intervals, the MA technology-backed solutions automate payments and remove the necessity of payer presence on the website or app.
Shares of Mastercard have gained 21.8% in a year compared with the industry’s 8.7% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Inspired Entertainment outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 27.99%. The Zacks Consensus Estimate for INSE’s 2023 earnings suggests an improvement of 42.9% from the year-ago reported figure. The same for revenues suggests growth of 20.4% from the year-ago reported number. The consensus mark for INSE’s 2023 earnings has moved 14.6% north in the past 60 days.
Trane Technologies’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 6.74%. The Zacks Consensus Estimate for TT’s 2023 earnings suggests an improvement of 14.7% from the year-ago reported figure. The same for revenues suggests growth of 9% from the year-ago reported number. The consensus mark for TT’s 2023 earnings has moved 1.3% north in the past 60 days.
The bottom line of Healthcare Services Group outpaced estimates in two of the last four quarters and missed the mark twice, the average beat being 1.44%. The Zacks Consensus Estimate for HCSG’s 2023 earnings suggests an improvement of 55.3% from the year-ago reported figure. The consensus mark for HCSG’s 2023 earnings has moved 5.8% north in the past 60 days.
Shares of Inspired Entertainment and Trane Technologies have gained 71.1% and 48.2%, respectively, in a year. However, the Healthcare Services Group stock has lost 14% in the same time frame.
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Mastercard (MA) Rolls Out Solution to Ease Subscription Cancellation
Mastercard Incorporated (MA - Free Report) teamed up with the Danish fintech, Subaio, to introduce a solution that imparts greater control and flexibility to consumers in making informed financial decisions about subscription payments. The solution has been made available to banks across North America and Europe.
Powered by a single API, the Mastercard solution enables consumers to identify and manage their required subscriptions and most importantly, cancels subscriptions that are not required from their bank’s digital apps. The hassles associated with switching between apps while unsubscribing from services are addressed by the solution.
In addition to greater control, the recent launch will also enable consumers to take a glance at digital receipts and merchant information, thereby presenting a clear picture of their monthly expenditures and easing the digital financial journey.
Apart from being of great use to consumers, the solution will fetch numerous benefits to financial institutions, issuers and merchants as well. The effectiveness of this Mastercard solution is expected to minimize operational expenses for financial institutions while merchants and issuers can get relief from the costs related to disputes and establish strong connections with customers.
The latest tie-up with Subaio reflects Mastercard’s sincere efforts to unveil advanced and seamless customer-focused solutions across different parts of the globe. And the well-established subscription management service of Subaio makes it the apt partner to complement MA’s endeavor. In fact, the tech giant extended a helping hand to Subaio by choosing it as a participant in the Mastercard Start Path Program in 2020.
Moves similar to the latest one are likely to empower Mastercard in harnessing potential growth prospects of the global subscription economy. A booming digital era and the emergence of advanced technologies might have triggered the growing inclination of consumers toward utilizing subscription-based products and have led to the current situation wherein they own a significant number of subscriptions.
In February 2023, MA rolled out innovative payment solutions backed with the power of Mastercard Payment Gateway Services across Saudi Arabia and empowered the country’s merchants to conduct a diversified array of recurring transactions. Since recurring payments have to be made at regular intervals, the MA technology-backed solutions automate payments and remove the necessity of payer presence on the website or app.
Shares of Mastercard have gained 21.8% in a year compared with the industry’s 8.7% 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 Inspired Entertainment, Inc. (INSE - Free Report) , Trane Technologies plc (TT - Free Report) and Healthcare Services Group, Inc. (HCSG - Free Report) . Inspired Entertainment sports a Zacks Rank #1 (Strong Buy), and Trane Technologies and Healthcare Services Group 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 Inspired Entertainment outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 27.99%. The Zacks Consensus Estimate for INSE’s 2023 earnings suggests an improvement of 42.9% from the year-ago reported figure. The same for revenues suggests growth of 20.4% from the year-ago reported number. The consensus mark for INSE’s 2023 earnings has moved 14.6% north in the past 60 days.
Trane Technologies’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 6.74%. The Zacks Consensus Estimate for TT’s 2023 earnings suggests an improvement of 14.7% from the year-ago reported figure. The same for revenues suggests growth of 9% from the year-ago reported number. The consensus mark for TT’s 2023 earnings has moved 1.3% north in the past 60 days.
The bottom line of Healthcare Services Group outpaced estimates in two of the last four quarters and missed the mark twice, the average beat being 1.44%. The Zacks Consensus Estimate for HCSG’s 2023 earnings suggests an improvement of 55.3% from the year-ago reported figure. The consensus mark for HCSG’s 2023 earnings has moved 5.8% north in the past 60 days.
Shares of Inspired Entertainment and Trane Technologies have gained 71.1% and 48.2%, respectively, in a year. However, the Healthcare Services Group stock has lost 14% in the same time frame.