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Mastercard (MA), Virta Introduce Virta Payment Kiosk in Europe
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Mastercard Incorporated (MA - Free Report) and Virta, a leading electric vehicle charging platform, have jointly launched the Virta Payment Kiosk solution, revolutionizing card-based payments for EV charging stations across Europe. Developed in collaboration with Worldpay from FIS, this innovative solution sets new standards for unmanned outdoor card payment systems, ensuring safety, reliability and ease of use.
Addressing the Demands of European EV Drivers
European EV drivers have long desired a simple and convenient card payment option at charging stations. Recognizing this need, Virta and Mastercard conducted research, which indicated that 65% of Europeans prefer payment cards over multiple apps and tags for smoother, frictionless transactions. The newly published Mastercard White Paper further validates this trend, highlighting the growing demand for convenient payment methods in the electric mobility sector.
Advantages of Mastercard in the EV Charging Landscape
Mastercard, a global leader in card payments, stands to gain from its collaboration with Virta and Worldpay from FIS. By enabling seamless card-based payments at EV charging stations, Mastercard will be able to expand its presence in the EV market, enhancing its brand recognition and establishing itself as a trusted payment solution provider for electric mobility. This collaboration contributes to Mastercard's commitment to offering innovative and convenient payment options, ultimately improving the overall consumer experience.
Increased Freedom & Cost Reduction for Charging Point Operators
The Virta Payment Kiosk not only benefits EV drivers but also offers financial viability to charging point operators. The solution reduces costs and implementation time by accommodating multiple chargers at the same site and allowing the retrofitting of existing AC and DC charging stations. It integrates with Virta's EV charging money management service and adheres to current and upcoming legal and regulatory requirements, ensuring compliance with industry standards.
The Virta Payment Kiosk solution is now available for all charging point owners on the Powered by Virta platform. The initial rollout will encompass charging sites in Sweden, Finland, Norway, Denmark and Iceland, with the goal of enabling card payments at all Powered by Virta charging sites in Europe by the end of 2025. With the rapid growth of EV infrastructure, Virta expects the number of charging points connected to its platform to increase significantly, providing consumers with convenient and accessible charging options.
As the demand for electric mobility continues to rise, partnerships like Virta, Mastercard, and Worldpay from FIS play a crucial role in creating a seamless charging experience. By enabling card payments at all EV charging stations, this collaboration not only benefits EV drivers but also strengthens Mastercard's position in the evolving electric mobility landscape, paving the way for a more sustainable future.
Zacks Rank and Price Performance
Shares of Mastercard have gained 13.6% in a year compared with the industry’s 11.1% growth.
Some better-ranked stocks from the same space are DLocal Limited (DLO - Free Report) , Visa (V - Free Report) and WEX (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for DLO’s 2023 and 2024 earnings per share indicates a year-over-year increase of 54.1% and 40.4%, respectively. The consensus estimate has moved north by 1 cent each for 2023 and 2024 in the past 30 days. Year to date, DLO shares have lost 21.7%.
Visa delivered an average four-quarter earnings surprise of 8.03%. The Zacks Consensus Estimate for V’s 2023 and 2024 earnings per share indicates a year-over-year increase of 14.5% and 12.8%, respectively. Year to date, Visa shares have gained 14%.
WEX delivered an average four-quarter earnings surprise of 5.36%. The Zacks Consensus Estimate for WEX’s 2023 earnings per share indicates a year-over-year increase of 3.8% on 12.7% higher revenues. Year to date, WEX shares have gained 12.4%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Mastercard (MA), Virta Introduce Virta Payment Kiosk in Europe
Mastercard Incorporated (MA - Free Report) and Virta, a leading electric vehicle charging platform, have jointly launched the Virta Payment Kiosk solution, revolutionizing card-based payments for EV charging stations across Europe. Developed in collaboration with Worldpay from FIS, this innovative solution sets new standards for unmanned outdoor card payment systems, ensuring safety, reliability and ease of use.
Addressing the Demands of European EV Drivers
European EV drivers have long desired a simple and convenient card payment option at charging stations. Recognizing this need, Virta and Mastercard conducted research, which indicated that 65% of Europeans prefer payment cards over multiple apps and tags for smoother, frictionless transactions. The newly published Mastercard White Paper further validates this trend, highlighting the growing demand for convenient payment methods in the electric mobility sector.
Advantages of Mastercard in the EV Charging Landscape
Mastercard, a global leader in card payments, stands to gain from its collaboration with Virta and Worldpay from FIS. By enabling seamless card-based payments at EV charging stations, Mastercard will be able to expand its presence in the EV market, enhancing its brand recognition and establishing itself as a trusted payment solution provider for electric mobility. This collaboration contributes to Mastercard's commitment to offering innovative and convenient payment options, ultimately improving the overall consumer experience.
Increased Freedom & Cost Reduction for Charging Point Operators
The Virta Payment Kiosk not only benefits EV drivers but also offers financial viability to charging point operators. The solution reduces costs and implementation time by accommodating multiple chargers at the same site and allowing the retrofitting of existing AC and DC charging stations. It integrates with Virta's EV charging money management service and adheres to current and upcoming legal and regulatory requirements, ensuring compliance with industry standards.
The Virta Payment Kiosk solution is now available for all charging point owners on the Powered by Virta platform. The initial rollout will encompass charging sites in Sweden, Finland, Norway, Denmark and Iceland, with the goal of enabling card payments at all Powered by Virta charging sites in Europe by the end of 2025. With the rapid growth of EV infrastructure, Virta expects the number of charging points connected to its platform to increase significantly, providing consumers with convenient and accessible charging options.
As the demand for electric mobility continues to rise, partnerships like Virta, Mastercard, and Worldpay from FIS play a crucial role in creating a seamless charging experience. By enabling card payments at all EV charging stations, this collaboration not only benefits EV drivers but also strengthens Mastercard's position in the evolving electric mobility landscape, paving the way for a more sustainable future.
Zacks Rank and Price Performance
Shares of Mastercard have gained 13.6% in a year compared with the industry’s 11.1% growth.
Image Source: Zacks Investment Research
MA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Some better-ranked stocks from the same space are DLocal Limited (DLO - Free Report) , Visa (V - Free Report) and WEX (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for DLO’s 2023 and 2024 earnings per share indicates a year-over-year increase of 54.1% and 40.4%, respectively. The consensus estimate has moved north by 1 cent each for 2023 and 2024 in the past 30 days. Year to date, DLO shares have lost 21.7%.
Visa delivered an average four-quarter earnings surprise of 8.03%. The Zacks Consensus Estimate for V’s 2023 and 2024 earnings per share indicates a year-over-year increase of 14.5% and 12.8%, respectively. Year to date, Visa shares have gained 14%.
WEX delivered an average four-quarter earnings surprise of 5.36%. The Zacks Consensus Estimate for WEX’s 2023 earnings per share indicates a year-over-year increase of 3.8% on 12.7% higher revenues. Year to date, WEX shares have gained 12.4%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.