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Mastercard (MA) Eyes Hassle Free Money Transfers in the UAE
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Mastercard Incorporated (MA - Free Report) recently teamed up with the global payments solution provider (PSP) Checkout.com and the app meeting everyday needs of the UAE, Careem. The partnership will lead to the integration of the payments service platform Mastercard Send within Careem Pay, the fintech division of Careem’s ‘Everything App’.
The resultant benefit of the integration will pave the way for seamless and faster money transfers and everyday payments by UAE’s consumers from their Careem Pay wallets. In addition to this, the region will reap the benefits of accelerated marketplace refunds, seamless disbursements for retail and delivery industries, and enhanced person-to-person and international money transfer experiences, attributable to the roll out of the Mastercard platform across the UAE.
Mastercard Send remains the preferred choice for merchants and consumers owing to its numerous tailwinds. With an expansive reach of 108 countries, Mastercard Send stands out over time-consuming conventional bank transfers and therefore infuses a sigh of relief across those regions where it is being rolled out.
Such platforms are built leveraging the multi-rail payment capabilities of Mastercard and aim to offer increased speed, choice and convenience in money transfers across the farthest corners of the world while simultaneously assuring the safety and control of transactions as well.
Partnerships similar to the latest one bear testament to Mastercard’s digital transformation efforts across the UAE, which result in the launch of innovative payment solutions in the region. A booming digital economy, spurred by increased Internet penetration and the higher usage of smartphones, might have prompted MA to extend its platform across the UAE.
And Checkout.com and Careem seems to be the apt partners for strengthening the footprint of Mastercard in the UAE. Checkout.com is the first PSP that has bagged an acquiring license from the UAE Central Bank and remains committed to providing improved payment flows. Meanwhile, Careem boasts more than 50 million registered customers and imparts them the facility to engage in a variety of daily services and subsequently, make secure payments through one unified smartphone app.
In fact, Mastercard’s longstanding ties with Checkout.com has enabled the benefits of the Mastercard Send platform to be reaped by different regions of the world time and again. In 2022, the partners collaborated to launch the platform across Italy. After extending the multiple benefits of the platform in Europe, MA took the help of the PSP to make the platform available across the Asia Pacific region this year.
Shares of Mastercard have gained 15.3% in a year compared with the industry’s 5.6% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Paysafe Limited outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 153.96%. The Zacks Consensus Estimate for PSFE’s 2023 earnings suggests an improvement of 1.3% from the year-ago reported figure. The consensus mark for PSFE’s 2023 earnings has moved 3.6% north in the past 60 days.
Aptiv’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 13.35%. The Zacks Consensus Estimate for APTV’s 2023 earnings suggests an improvement of 39% from the prior-year reported figure. The same for revenues suggests growth of 14.8% from the 2022 figure. The consensus mark for APTV’s 2023 earnings has moved 1.5% north in the past seven days.
The bottom line of Verisk Analytics outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 9.85%. The Zacks Consensus Estimate for VRSK’s 2023 earnings suggests an improvement of 14% from the prior-year reported figure. The consensus mark for VRSK’s 2023 earnings has moved 3.6% north in the past 30 days.
Shares of Aptiv and Verisk Analytics have gained 0.6% and 19.4%, respectively, in a year. However, the Paysafe Limited stock has lost 45% in the same time frame.
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Mastercard (MA) Eyes Hassle Free Money Transfers in the UAE
Mastercard Incorporated (MA - Free Report) recently teamed up with the global payments solution provider (PSP) Checkout.com and the app meeting everyday needs of the UAE, Careem. The partnership will lead to the integration of the payments service platform Mastercard Send within Careem Pay, the fintech division of Careem’s ‘Everything App’.
The resultant benefit of the integration will pave the way for seamless and faster money transfers and everyday payments by UAE’s consumers from their Careem Pay wallets. In addition to this, the region will reap the benefits of accelerated marketplace refunds, seamless disbursements for retail and delivery industries, and enhanced person-to-person and international money transfer experiences, attributable to the roll out of the Mastercard platform across the UAE.
Mastercard Send remains the preferred choice for merchants and consumers owing to its numerous tailwinds. With an expansive reach of 108 countries, Mastercard Send stands out over time-consuming conventional bank transfers and therefore infuses a sigh of relief across those regions where it is being rolled out.
Such platforms are built leveraging the multi-rail payment capabilities of Mastercard and aim to offer increased speed, choice and convenience in money transfers across the farthest corners of the world while simultaneously assuring the safety and control of transactions as well.
Partnerships similar to the latest one bear testament to Mastercard’s digital transformation efforts across the UAE, which result in the launch of innovative payment solutions in the region. A booming digital economy, spurred by increased Internet penetration and the higher usage of smartphones, might have prompted MA to extend its platform across the UAE.
And Checkout.com and Careem seems to be the apt partners for strengthening the footprint of Mastercard in the UAE. Checkout.com is the first PSP that has bagged an acquiring license from the UAE Central Bank and remains committed to providing improved payment flows. Meanwhile, Careem boasts more than 50 million registered customers and imparts them the facility to engage in a variety of daily services and subsequently, make secure payments through one unified smartphone app.
In fact, Mastercard’s longstanding ties with Checkout.com has enabled the benefits of the Mastercard Send platform to be reaped by different regions of the world time and again. In 2022, the partners collaborated to launch the platform across Italy. After extending the multiple benefits of the platform in Europe, MA took the help of the PSP to make the platform available across the Asia Pacific region this year.
Shares of Mastercard have gained 15.3% in a year compared with the industry’s 5.6% 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 Paysafe Limited (PSFE - Free Report) , Aptiv PLC (APTV - Free Report) and Verisk Analytics, Inc. (VRSK - Free Report) . While Paysafe Limited currently sports a Zacks Rank #1 (Strong Buy), Aptiv and Verisk Analytics carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Paysafe Limited outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 153.96%. The Zacks Consensus Estimate for PSFE’s 2023 earnings suggests an improvement of 1.3% from the year-ago reported figure. The consensus mark for PSFE’s 2023 earnings has moved 3.6% north in the past 60 days.
Aptiv’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 13.35%. The Zacks Consensus Estimate for APTV’s 2023 earnings suggests an improvement of 39% from the prior-year reported figure. The same for revenues suggests growth of 14.8% from the 2022 figure. The consensus mark for APTV’s 2023 earnings has moved 1.5% north in the past seven days.
The bottom line of Verisk Analytics outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 9.85%. The Zacks Consensus Estimate for VRSK’s 2023 earnings suggests an improvement of 14% from the prior-year reported figure. The consensus mark for VRSK’s 2023 earnings has moved 3.6% north in the past 30 days.
Shares of Aptiv and Verisk Analytics have gained 0.6% and 19.4%, respectively, in a year. However, the Paysafe Limited stock has lost 45% in the same time frame.