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Mastercard (MA) Solutions Suite to Ease Payments in Nigeria
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Mastercard Incorporated (MA - Free Report) recently unveiled a set of contactless payment solutions to revolutionize the payments landscape of Nigeria. Therefore, nationwide businesses of any size can leverage tap-on phone service, QR codes and Payment Links on their smartphones and accept card payments seamlessly. These contactless payment options are backed by the reliable payment acceptance technology of the tech giant, thereby ensuring more safety in payments.
The newly introduced solutions are also infused with Near Field Communication technology that enables smart devices to assume the role of payment acceptance devices, establish smooth connections with the contactless payment card of a customer and extract payment details, which in turn, provides faster processing of payments. Thereby, it saves time for business owners and provides them an opportunity to direct more time to other business prospects.
Also, the suite of Mastercard’s payment solutions ensures to lower the cost of payment acceptance devices. Nigeria’s merchants need not undergo exorbitant costs that often go into investments to establish a separate hardware Point-of-Sale device. The cost-effective nature is expected to provide a sigh of relief to around 40 million small businesses of the country, who can financially afford to use the MA technology and hence, embrace the booming digitization trend in their daily operations.
In addition to benefiting merchants, Mastercard’s solutions are likely to be of great use to the nation’s consumers as well. An accelerated checkout experience and lesser waiting times are some of the resultant benefits. Customers merely need to place their cards on the merchant’s device for seamless payments, thus overcoming hassles related to cash payments, swiping cards and feeding PIN.
The recent announcement bears testament to Mastercard’s efforts in expanding the reach of its digital payment solutions across Nigeria, which is part of a digitally booming continent. It also seems to be in line with MA’s commitment to bring 50 million micro and small merchants under the ambit of a digital economy within 2025. The increased utilization of the tech giant’s solutions is likely to fetch higher revenues and enable it to occupy a significant share of the global digital payments market.
Mastercard puts intensified focus on infusing digitization into the daily lives of people across the world and therefore, undertakes frequent moves to complement its endeavor. A day before the recent move in Nigeria, Mastercard teamed up with the operator of MRT Jakarta facilities and infrastructure, PT MRT Jakarta, to enhance the transit experience for commuters traveling on the transit system of Indonesia’s capital city.
Commuters can utilize MA-branded debit cards to opt for cashless top-up of MRT cards at manned counters within MRT stations while its credit card can be leveraged to buy MRT tickets via the MyMRTJ app.
Shares of Mastercard have gained 23.1% in the past year compared with the industry’s 21.1% increase. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Palantir Technologies outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 18.75%. The Zacks Consensus Estimate for PLTR’s 2023 earnings is pegged at 25 cents per share, which indicates a more than four-fold increase from the year-ago reported figure. The consensus mark for revenues suggests growth of 16.5% from the year-ago reported number. The consensus mark for PLTR’s 2023 earnings has moved 8.7% north in the past 60 days.
Omnicom’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.47%. The Zacks Consensus Estimate for OMC’s 2023 earnings suggests an improvement of 6.6% from the year-ago reported figure. The consensus mark for revenues suggests growth of 2.3% from the prior-year reading. The consensus mark for OMC’s 2023 earnings has moved 0.1% north in the past 60 days.
The bottom line of Rollins outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 7.20%. The Zacks Consensus Estimate for ROL’s 2023 earnings suggests an improvement of 18.7% from the year-ago reported figure. The consensus mark for revenues suggests growth of 13.7% from the year-ago actuals. The consensus mark for ROL’s 2023 earnings has moved 4.7% north in the past 60 days.
Shares of Palantir Technologies and Rollins have gained 20.8% and 3.6%, respectively, in the past year. However, the Omnicom stock has declined 8.3% in the same time frame.
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Mastercard (MA) Solutions Suite to Ease Payments in Nigeria
Mastercard Incorporated (MA - Free Report) recently unveiled a set of contactless payment solutions to revolutionize the payments landscape of Nigeria. Therefore, nationwide businesses of any size can leverage tap-on phone service, QR codes and Payment Links on their smartphones and accept card payments seamlessly. These contactless payment options are backed by the reliable payment acceptance technology of the tech giant, thereby ensuring more safety in payments.
The newly introduced solutions are also infused with Near Field Communication technology that enables smart devices to assume the role of payment acceptance devices, establish smooth connections with the contactless payment card of a customer and extract payment details, which in turn, provides faster processing of payments. Thereby, it saves time for business owners and provides them an opportunity to direct more time to other business prospects.
Also, the suite of Mastercard’s payment solutions ensures to lower the cost of payment acceptance devices. Nigeria’s merchants need not undergo exorbitant costs that often go into investments to establish a separate hardware Point-of-Sale device. The cost-effective nature is expected to provide a sigh of relief to around 40 million small businesses of the country, who can financially afford to use the MA technology and hence, embrace the booming digitization trend in their daily operations.
In addition to benefiting merchants, Mastercard’s solutions are likely to be of great use to the nation’s consumers as well. An accelerated checkout experience and lesser waiting times are some of the resultant benefits. Customers merely need to place their cards on the merchant’s device for seamless payments, thus overcoming hassles related to cash payments, swiping cards and feeding PIN.
The recent announcement bears testament to Mastercard’s efforts in expanding the reach of its digital payment solutions across Nigeria, which is part of a digitally booming continent. It also seems to be in line with MA’s commitment to bring 50 million micro and small merchants under the ambit of a digital economy within 2025. The increased utilization of the tech giant’s solutions is likely to fetch higher revenues and enable it to occupy a significant share of the global digital payments market.
Mastercard puts intensified focus on infusing digitization into the daily lives of people across the world and therefore, undertakes frequent moves to complement its endeavor. A day before the recent move in Nigeria, Mastercard teamed up with the operator of MRT Jakarta facilities and infrastructure, PT MRT Jakarta, to enhance the transit experience for commuters traveling on the transit system of Indonesia’s capital city.
Commuters can utilize MA-branded debit cards to opt for cashless top-up of MRT cards at manned counters within MRT stations while its credit card can be leveraged to buy MRT tickets via the MyMRTJ app.
Shares of Mastercard have gained 23.1% in the past year compared with the industry’s 21.1% increase. 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 Palantir Technologies Inc. (PLTR - Free Report) , Omnicom Group Inc. (OMC - Free Report) and Rollins, Inc. (ROL - Free Report) . While Palantir Technologies sports a Zacks Rank #1 (Strong Buy), Omnicom and Rollins carry a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Palantir Technologies outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 18.75%. The Zacks Consensus Estimate for PLTR’s 2023 earnings is pegged at 25 cents per share, which indicates a more than four-fold increase from the year-ago reported figure. The consensus mark for revenues suggests growth of 16.5% from the year-ago reported number. The consensus mark for PLTR’s 2023 earnings has moved 8.7% north in the past 60 days.
Omnicom’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.47%. The Zacks Consensus Estimate for OMC’s 2023 earnings suggests an improvement of 6.6% from the year-ago reported figure. The consensus mark for revenues suggests growth of 2.3% from the prior-year reading. The consensus mark for OMC’s 2023 earnings has moved 0.1% north in the past 60 days.
The bottom line of Rollins outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 7.20%. The Zacks Consensus Estimate for ROL’s 2023 earnings suggests an improvement of 18.7% from the year-ago reported figure. The consensus mark for revenues suggests growth of 13.7% from the year-ago actuals. The consensus mark for ROL’s 2023 earnings has moved 4.7% north in the past 60 days.
Shares of Palantir Technologies and Rollins have gained 20.8% and 3.6%, respectively, in the past year. However, the Omnicom stock has declined 8.3% in the same time frame.