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Mastercard (MA) & JazzCash to Speed Up Digitization in Pakistan
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Mastercard Incorporated (MA - Free Report) recently collaborated with JazzCash, a leading digital wallet company in Pakistan, to transform the digital payments landscape in the country. This partnership will bring affordable solutions for payment acceptance in Pakistan, simplifying the payment experience.
This move builds on the existing partnership of JazzCash and Mastercard and aims to drive financial inclusion in the country. Solutions like QR code payments, tap-on phones and Pay by a link are expected to provide cost-effectiveness and wide acceptance for merchants. Mastercard will benefit from increasing transaction processing revenues in the future.
This tie-up will cater to the underserved segments in Pakistan, aiming to increase the number of payment acceptance locations and drive digital payments in the country. Pakistan has 5.2 million micro, small and medium enterprises, of which 50% are run by women. Due to less than 1,000 locations per million people, Mastercard and JazzCash have decided to empower enterprises and drive financial inclusion. Mastercard is expected to contribute to the development of a secure and competitive digital payments system in Pakistan.
Given the low penetration of card and digital transactions in Pakistan, this move is a relief. With this partnership, consumers will be able to make payments in a hassle-free way, and merchants will be able to attract more customers by accepting Mastercard payments.
Mastercard’s mission to motivate the widespread uptake of digital payment solutions due to their ease and affordability is materializing amid this partnership. This, in turn, will make way for more individuals and businesses to come under the ambit of a booming worldwide digital economy.
Zacks Rank and Price Performance
Mastercard currently carries a Zacks Rank #3 (Hold). Shares of Mastercard have gained 21.5% in a year compared with the industry’s 10.1% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the Financial Transaction services space are DLocal Limited (DLO - Free Report) , Visa (V - Free Report) and WEX (WEX - Free Report) . Each of these companies currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for DLO’s 2023 and 2024 earnings per share (EPS) indicates a year-over-year increase of 54.1% and 40.4%, respectively. The consensus estimate has moved north by 5.6% and 2.6%, respectively, for 2023 and 2024 in the past 60 days. Year to date, DLO shares have lost 22%.
Visa delivered an average four-quarter earnings surprise of 8%. The Zacks Consensus Estimate for V’s 2023 and 2024 EPS indicates a year-over-year increase of 14.5% and 12.8%, respectively. Year to date, Visa’s shares have gained 14.6%.
WEX delivered an average four-quarter earnings surprise of 5.4%. The Zacks Consensus Estimate for WEX’s 2023 EPS indicates a year-over-year increase of 3.8% on 5.8% higher revenues. Year to date, WEX shares have gained 14.6%.
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Mastercard (MA) & JazzCash to Speed Up Digitization in Pakistan
Mastercard Incorporated (MA - Free Report) recently collaborated with JazzCash, a leading digital wallet company in Pakistan, to transform the digital payments landscape in the country. This partnership will bring affordable solutions for payment acceptance in Pakistan, simplifying the payment experience.
This move builds on the existing partnership of JazzCash and Mastercard and aims to drive financial inclusion in the country. Solutions like QR code payments, tap-on phones and Pay by a link are expected to provide cost-effectiveness and wide acceptance for merchants. Mastercard will benefit from increasing transaction processing revenues in the future.
This tie-up will cater to the underserved segments in Pakistan, aiming to increase the number of payment acceptance locations and drive digital payments in the country. Pakistan has 5.2 million micro, small and medium enterprises, of which 50% are run by women. Due to less than 1,000 locations per million people, Mastercard and JazzCash have decided to empower enterprises and drive financial inclusion. Mastercard is expected to contribute to the development of a secure and competitive digital payments system in Pakistan.
Given the low penetration of card and digital transactions in Pakistan, this move is a relief. With this partnership, consumers will be able to make payments in a hassle-free way, and merchants will be able to attract more customers by accepting Mastercard payments.
Mastercard’s mission to motivate the widespread uptake of digital payment solutions due to their ease and affordability is materializing amid this partnership. This, in turn, will make way for more individuals and businesses to come under the ambit of a booming worldwide digital economy.
Zacks Rank and Price Performance
Mastercard currently carries a Zacks Rank #3 (Hold). Shares of Mastercard have gained 21.5% in a year compared with the industry’s 10.1% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the Financial Transaction services space are DLocal Limited (DLO - Free Report) , Visa (V - Free Report) and WEX (WEX - Free Report) . Each of these companies currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for DLO’s 2023 and 2024 earnings per share (EPS) indicates a year-over-year increase of 54.1% and 40.4%, respectively. The consensus estimate has moved north by 5.6% and 2.6%, respectively, for 2023 and 2024 in the past 60 days. Year to date, DLO shares have lost 22%.
Visa delivered an average four-quarter earnings surprise of 8%. The Zacks Consensus Estimate for V’s 2023 and 2024 EPS indicates a year-over-year increase of 14.5% and 12.8%, respectively. Year to date, Visa’s shares have gained 14.6%.
WEX delivered an average four-quarter earnings surprise of 5.4%. The Zacks Consensus Estimate for WEX’s 2023 EPS indicates a year-over-year increase of 3.8% on 5.8% higher revenues. Year to date, WEX shares have gained 14.6%.