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Mastercard (MA), Equity Ink Deal to Boost Digitization in Africa
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Mastercard Incorporated (MA - Free Report) recently inked a Customer Business Agreement with Kenya-based Equity Bank, a subsidiary of the country’s leading financial services provider Equity Group Holdings. The deal will run for a period of 10 years.
The partnership aims to make a diversified set of MA’s cutting-edge payment solutions available across six countries wherein Equity operates, such as Kenya, Uganda, Rwanda, Tanzania, South Sudan and DRC. The solutions refer to the card offerings suite of Mastercard comprising World and World Elite cards, corporate cards and virtual cards.
As part of the agreement, Mastercard and Equity will follow a collaborative approach to devise innovative payment solutions, particularly in the field of e-commerce, cross border payments and segment-based value propositions, as per the evolving needs of consumers. Therefore, customers will be equipped to opt for cross-border remittance, e-commerce, QR and Tap on phone payments.
Mitigation strategies to counter cybercrimes will also be taken care of by the partners. The deal tends to fetch a wide set of benefits to varied customer segments.
In addition to this, Mastercard and Equity will work closely to infuse greater digitization within the operations of the underserved community of small, mid-sized, and micro businesses. To this effect, the companies will develop community pass solutions to empower farmers and traders access services by leveraging various identification methods such as QR, biometric and facial recognition.
The recent deal seems to be a win-win situation for both Mastercard and Equity, who share the motive of addressing the payment needs of consumers with varied lifestyle and business requirements. The tech giant will enable Equity to extend advanced payment capabilities across its areas of operations. Increased utilization of MA’s solutions may boost its revenues, establish a solid presence in Africa as well as widen its customer base in the continent.
Meanwhile, Mastercard’s keen eye on infusing digitization and building a strong payment ecosystem across Africa can be clearly reflected through the latest move. And Equity Group, which is one of the largest financial institutions in East Africa, seems to be the apt partner to complement MA’s endeavor. The tech giant has frequently resorted to tie-ups with financial institutions or undertaken significant investments to occupy a significant share in the payments market of the digitally booming continent.
Shares of Mastercard have gained 33.2% in the past year compared with the industry’s 18.2% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 21.75%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 31.8% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 17% from the year-ago reported number. The consensus mark for HURN’s 2023 earnings has moved 9.4% north in the past 60 days.
Paysafe’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 153.96%. The Zacks Consensus Estimate for PSFE’s 2023 earnings suggests an improvement of 5.8% from the year-ago reported figure. The consensus mark for PSFE’s 2023 earnings has moved 4.4% north in the past 30 days.
The bottom line of FirstCash outpaced estimates in each of the last four quarters, the average surprise being 7.31%. The Zacks Consensus Estimate for FCFS’s 2023 earnings suggests an improvement of 6.7% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 15.5% from the year-ago reported number. The consensus mark for FCFS’s 2023 earnings has moved 0.4% north in the past 30 days.
Shares of Huron Consulting and FirstCash have gained 53.2% and 18%, respectively, in the past year. However, the PaySafe stock has declined 31.6% in the same time frame.
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Mastercard (MA), Equity Ink Deal to Boost Digitization in Africa
Mastercard Incorporated (MA - Free Report) recently inked a Customer Business Agreement with Kenya-based Equity Bank, a subsidiary of the country’s leading financial services provider Equity Group Holdings. The deal will run for a period of 10 years.
The partnership aims to make a diversified set of MA’s cutting-edge payment solutions available across six countries wherein Equity operates, such as Kenya, Uganda, Rwanda, Tanzania, South Sudan and DRC. The solutions refer to the card offerings suite of Mastercard comprising World and World Elite cards, corporate cards and virtual cards.
As part of the agreement, Mastercard and Equity will follow a collaborative approach to devise innovative payment solutions, particularly in the field of e-commerce, cross border payments and segment-based value propositions, as per the evolving needs of consumers. Therefore, customers will be equipped to opt for cross-border remittance, e-commerce, QR and Tap on phone payments.
Mitigation strategies to counter cybercrimes will also be taken care of by the partners. The deal tends to fetch a wide set of benefits to varied customer segments.
In addition to this, Mastercard and Equity will work closely to infuse greater digitization within the operations of the underserved community of small, mid-sized, and micro businesses. To this effect, the companies will develop community pass solutions to empower farmers and traders access services by leveraging various identification methods such as QR, biometric and facial recognition.
The recent deal seems to be a win-win situation for both Mastercard and Equity, who share the motive of addressing the payment needs of consumers with varied lifestyle and business requirements. The tech giant will enable Equity to extend advanced payment capabilities across its areas of operations. Increased utilization of MA’s solutions may boost its revenues, establish a solid presence in Africa as well as widen its customer base in the continent.
Meanwhile, Mastercard’s keen eye on infusing digitization and building a strong payment ecosystem across Africa can be clearly reflected through the latest move. And Equity Group, which is one of the largest financial institutions in East Africa, seems to be the apt partner to complement MA’s endeavor. The tech giant has frequently resorted to tie-ups with financial institutions or undertaken significant investments to occupy a significant share in the payments market of the digitally booming continent.
Shares of Mastercard have gained 33.2% in the past year compared with the industry’s 18.2% 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 Huron Consulting Group Inc. (HURN - Free Report) , Paysafe Limited (PSFE - Free Report) and FirstCash Holdings, Inc. (FCFS - Free Report) . While Huron Consulting sports a Zacks Rank #1 (Strong Buy), Paysafe and FirstCash 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 Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 21.75%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 31.8% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 17% from the year-ago reported number. The consensus mark for HURN’s 2023 earnings has moved 9.4% north in the past 60 days.
Paysafe’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 153.96%. The Zacks Consensus Estimate for PSFE’s 2023 earnings suggests an improvement of 5.8% from the year-ago reported figure. The consensus mark for PSFE’s 2023 earnings has moved 4.4% north in the past 30 days.
The bottom line of FirstCash outpaced estimates in each of the last four quarters, the average surprise being 7.31%. The Zacks Consensus Estimate for FCFS’s 2023 earnings suggests an improvement of 6.7% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 15.5% from the year-ago reported number. The consensus mark for FCFS’s 2023 earnings has moved 0.4% north in the past 30 days.
Shares of Huron Consulting and FirstCash have gained 53.2% and 18%, respectively, in the past year. However, the PaySafe stock has declined 31.6% in the same time frame.