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Mastercard (MA), Pluto to Enhance B2B Payments in the UAE
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Mastercard Incorporated (MA - Free Report) recently teamed up with the UAE-based financial corporate spending management solutions provider, Pluto, to enable the widespread uptake of business-to-business (“B2B”) payment solutions across the Gulf Cooperation Council. This promises to infuse greater innovation and efficiency in the region’s B2B payments landscape.
Integral to the tie-up, Mastercard will extend a varied array of efficient and reliable payment options to Pluto’s client base. This, in turn, is expected to upgrade the solution suite of Pluto and empower it to bring about safety in payments as well as pave the way for better management of finances for businesses of all sizes.
The recent partnership reflects Mastercard’s broader motive of infusing greater digitization across the UAE and broadly, in the Middle East region. MA’s intensified focus on establishing a solid footprint in the region can be explained by its rapidly expanding digital economy, spurred by increased Internet penetration and the higher usage of smartphones. This provides a perfect ground for MA to capitalize on with its suite of advanced payment solutions that promise safe and seamless transactions for businesses.
The support of a global payment technology leader like Mastercard, whose digital arm is built with the help of partnerships and substantial technology investments, infuses a sense of confidence and security into the minds of business owners.
The tie-up with Pluto is expected to lead to increased utilization of Mastercard’s solutions. This, in turn, is likely to boost the revenues for the tech giant, which it derives from providing its value-added services and solutions suite to customers. Also, Pluto seems to be a prudent choice for Mastercard to capture a significant share of the digital payments market of the Middle East. The reason can be attributed to a remarkable expansion strategy pursued by Pluto through which its areas of operations are not just restricted to the UAE but is also set to bring Saudi Arabia and Bahrain under the radar.
Last month, Mastercard joined forces with Middle East’s leading payment processing service provider, areeba, to extend the benefits of upgraded payment platforms, such as Mastercard Card-as-a-Service and Bank-as-a-Fintech, to new market segments and demographics of the region. A few days before this, it collaborated with Saudi Awwal Bank to enable the bank to access its advanced AI-based cybersecurity technology to protect Saudi Arabia’s customers from cybercrimes and payment frauds, and subsequently, bring about safe digital transactions across the country. Such frequent moves undertaken in the Middle East reflect Mastercard’s endeavor to harness the digital growth prospects of the region.
Shares of Mastercard have gained 14.7% in the past year compared with the industry’s 11.4% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of RCM Technologies outpaced estimates in two of the last four quarters and missed the mark twice, the average beat being 13.28%. The Zacks Consensus Estimate for RCMT’s 2023 earnings suggests an improvement of 1% from the prior-year reported figure. The consensus mark for RCMT’s 2023 earnings has moved 11.1% north in the past 30 days.
APi Group’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.94%. The Zacks Consensus Estimate for APG’s 2023 earnings suggests an improvement of 18.1% from the prior-year reported figure. The consensus estimate for revenues suggests growth of 6% from the prior-year reported figure. The consensus mark for APG’s 2023 earnings has moved 4.7% north in the past 30 days.
The bottom line of SPS Commerce outpaced estimates in each of the last four quarters, the average beat being 15.34%. The Zacks Consensus Estimate for SPSC’s 2023 earnings suggests an improvement of 19.2% from the prior-year reported figure. The consensus estimate for revenues suggests growth of 18.7% from the prior-year reported figure. The consensus mark for SPSC’s 2023 earnings has moved 0.4% north in the past 30 days.
Shares of RCM Technologies, APi Group and SPS Commerce have gained 83.2%, 56.6% and 18.7%, respectively, in the past year.
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Mastercard (MA), Pluto to Enhance B2B Payments in the UAE
Mastercard Incorporated (MA - Free Report) recently teamed up with the UAE-based financial corporate spending management solutions provider, Pluto, to enable the widespread uptake of business-to-business (“B2B”) payment solutions across the Gulf Cooperation Council. This promises to infuse greater innovation and efficiency in the region’s B2B payments landscape.
Integral to the tie-up, Mastercard will extend a varied array of efficient and reliable payment options to Pluto’s client base. This, in turn, is expected to upgrade the solution suite of Pluto and empower it to bring about safety in payments as well as pave the way for better management of finances for businesses of all sizes.
The recent partnership reflects Mastercard’s broader motive of infusing greater digitization across the UAE and broadly, in the Middle East region. MA’s intensified focus on establishing a solid footprint in the region can be explained by its rapidly expanding digital economy, spurred by increased Internet penetration and the higher usage of smartphones. This provides a perfect ground for MA to capitalize on with its suite of advanced payment solutions that promise safe and seamless transactions for businesses.
The support of a global payment technology leader like Mastercard, whose digital arm is built with the help of partnerships and substantial technology investments, infuses a sense of confidence and security into the minds of business owners.
The tie-up with Pluto is expected to lead to increased utilization of Mastercard’s solutions. This, in turn, is likely to boost the revenues for the tech giant, which it derives from providing its value-added services and solutions suite to customers. Also, Pluto seems to be a prudent choice for Mastercard to capture a significant share of the digital payments market of the Middle East. The reason can be attributed to a remarkable expansion strategy pursued by Pluto through which its areas of operations are not just restricted to the UAE but is also set to bring Saudi Arabia and Bahrain under the radar.
Last month, Mastercard joined forces with Middle East’s leading payment processing service provider, areeba, to extend the benefits of upgraded payment platforms, such as Mastercard Card-as-a-Service and Bank-as-a-Fintech, to new market segments and demographics of the region. A few days before this, it collaborated with Saudi Awwal Bank to enable the bank to access its advanced AI-based cybersecurity technology to protect Saudi Arabia’s customers from cybercrimes and payment frauds, and subsequently, bring about safe digital transactions across the country. Such frequent moves undertaken in the Middle East reflect Mastercard’s endeavor to harness the digital growth prospects of the region.
Shares of Mastercard have gained 14.7% in the past year compared with the industry’s 11.4% growth. MA currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Business Services space are RCM Technologies, Inc. (RCMT - Free Report) , APi Group Corporation (APG - Free Report) and SPS Commerce, Inc. (SPSC - Free Report) . While RCM Technologies sports a Zacks Rank #1 (Strong Buy), APi Group and SPS Commerce carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The bottom line of RCM Technologies outpaced estimates in two of the last four quarters and missed the mark twice, the average beat being 13.28%. The Zacks Consensus Estimate for RCMT’s 2023 earnings suggests an improvement of 1% from the prior-year reported figure. The consensus mark for RCMT’s 2023 earnings has moved 11.1% north in the past 30 days.
APi Group’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.94%. The Zacks Consensus Estimate for APG’s 2023 earnings suggests an improvement of 18.1% from the prior-year reported figure. The consensus estimate for revenues suggests growth of 6% from the prior-year reported figure. The consensus mark for APG’s 2023 earnings has moved 4.7% north in the past 30 days.
The bottom line of SPS Commerce outpaced estimates in each of the last four quarters, the average beat being 15.34%. The Zacks Consensus Estimate for SPSC’s 2023 earnings suggests an improvement of 19.2% from the prior-year reported figure. The consensus estimate for revenues suggests growth of 18.7% from the prior-year reported figure. The consensus mark for SPSC’s 2023 earnings has moved 0.4% north in the past 30 days.
Shares of RCM Technologies, APi Group and SPS Commerce have gained 83.2%, 56.6% and 18.7%, respectively, in the past year.