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Mastercard (MA) to Digitize Middle East's Payments Space
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Mastercard Incorporated (MA - Free Report) recently collaborated with the leading Bahrain-based digital financial services provider, stc pay, in a bid to simplify card payments and enhance the country’s digital payments landscape.
The tie-up makes use of the collective expertise of the partners to make a varied array of features and value-added benefits assuring lucrative awards available to stc pay subscribers, which in turn, are likely to infuse more security and efficiency in everyday digital payments. In addition to this, Mastercard will equip stc pay to launch card offerings as per the evolving expectations of consumers.
MA’s endeavor to bring about increased digitization in Bahrain’s societies and subsequently, an expanding nationwide presence is reflected through the latest move. And stc pay, with an extensive reach across the Kingdom of Saudi Arabia through offering local and international transfers, prepaid cards, bill payments and more, seems to be the apt partner to complement Mastercard’s endeavor. Further, stc pay’s services play a crucial role in addressing the financial needs of the unbanked population, which is a shared aim of MA as well.
Concurrent with announcing the stc pay alliance, Mastercard also inked an issuing partnership deal with another digital financial services provider in the Middle East, tiqmo. The leading digital wallet, tiqmo, keeps an eye on building a safe digital payments ecosystem in the Middle East and North Africa financial services and marketplace.
Mastercard will make its world-class solutions, such as Cross-Border Payment services and tokenization, readily available to tiqmo for unveiling an advanced digital product and services suite for the wallet’s users across the Kingdom. The increased uptake of Mastercard’s solutions may drive its value-added services and solutions revenue stream. This revenue component witnessed a year-over-year increase of 17.2% in the first nine months of 2023.
Mastercard boasts an innovative digital suite that it has built over the years through partnerships and substantial investments. Thereby, the tech giant remains a favorite pick for financial service providers to infuse greater digitization across different parts of the globe.
A notable aim of Mastercard can be reflected through its partnerships with stc pay and tiqmo, which remain to capture growth prospects of the digitally booming Middle East region. Increased Internet penetration and higher usage of smartphones spur the region’s digital growth.
Shares of Mastercard have gained 14.4% in the past year compared with the industry’s 13.1% growth. MA currently carries a Zacks Rank #2 (Buy).
The bottom line of Green Dot outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 15.91%. The Zacks Consensus Estimate for GDOT’s 2024 earnings suggests an improvement of 12.7% from 2023. The consensus mark for revenues suggests growth of 1.5% from 2023. GDOT boasts an impressive Value Score of A.
Gartner’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 34.43%. The Zacks Consensus Estimate for IT’s 2024 earnings suggests an improvement of 9.3% from 2023. The consensus mark for revenues suggests growth of 7.7% from 2023. The consensus mark for IT’s 2024 earnings has moved 0.9% north in the past 60 days.
The bottom line of Envestnet outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 3.23%. The Zacks Consensus Estimate for ENV’s 2024 earnings suggests an improvement of 24.8% from 2023. The consensus mark for revenues suggests growth of 9.8% from 2023. The consensus mark for ENV’s 2024 earnings has moved 3.7% north in the past 30 days.
The Gartner stock has gained 36.1% in the past year. However, shares of Green Dot and Envestnet have declined 48.4% and 25.5%, respectively, in the same time frame.
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Mastercard (MA) to Digitize Middle East's Payments Space
Mastercard Incorporated (MA - Free Report) recently collaborated with the leading Bahrain-based digital financial services provider, stc pay, in a bid to simplify card payments and enhance the country’s digital payments landscape.
The tie-up makes use of the collective expertise of the partners to make a varied array of features and value-added benefits assuring lucrative awards available to stc pay subscribers, which in turn, are likely to infuse more security and efficiency in everyday digital payments. In addition to this, Mastercard will equip stc pay to launch card offerings as per the evolving expectations of consumers.
MA’s endeavor to bring about increased digitization in Bahrain’s societies and subsequently, an expanding nationwide presence is reflected through the latest move. And stc pay, with an extensive reach across the Kingdom of Saudi Arabia through offering local and international transfers, prepaid cards, bill payments and more, seems to be the apt partner to complement Mastercard’s endeavor. Further, stc pay’s services play a crucial role in addressing the financial needs of the unbanked population, which is a shared aim of MA as well.
Concurrent with announcing the stc pay alliance, Mastercard also inked an issuing partnership deal with another digital financial services provider in the Middle East, tiqmo. The leading digital wallet, tiqmo, keeps an eye on building a safe digital payments ecosystem in the Middle East and North Africa financial services and marketplace.
Mastercard will make its world-class solutions, such as Cross-Border Payment services and tokenization, readily available to tiqmo for unveiling an advanced digital product and services suite for the wallet’s users across the Kingdom. The increased uptake of Mastercard’s solutions may drive its value-added services and solutions revenue stream. This revenue component witnessed a year-over-year increase of 17.2% in the first nine months of 2023.
Mastercard boasts an innovative digital suite that it has built over the years through partnerships and substantial investments. Thereby, the tech giant remains a favorite pick for financial service providers to infuse greater digitization across different parts of the globe.
A notable aim of Mastercard can be reflected through its partnerships with stc pay and tiqmo, which remain to capture growth prospects of the digitally booming Middle East region. Increased Internet penetration and higher usage of smartphones spur the region’s digital growth.
Shares of Mastercard have gained 14.4% in the past year compared with the industry’s 13.1% growth. MA currently carries a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks in the Business Services space are Green Dot Corporation (GDOT - Free Report) , Gartner, Inc. (IT - Free Report) and Envestnet, Inc. (ENV - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Green Dot outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 15.91%. The Zacks Consensus Estimate for GDOT’s 2024 earnings suggests an improvement of 12.7% from 2023. The consensus mark for revenues suggests growth of 1.5% from 2023. GDOT boasts an impressive Value Score of A.
Gartner’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 34.43%. The Zacks Consensus Estimate for IT’s 2024 earnings suggests an improvement of 9.3% from 2023. The consensus mark for revenues suggests growth of 7.7% from 2023. The consensus mark for IT’s 2024 earnings has moved 0.9% north in the past 60 days.
The bottom line of Envestnet outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 3.23%. The Zacks Consensus Estimate for ENV’s 2024 earnings suggests an improvement of 24.8% from 2023. The consensus mark for revenues suggests growth of 9.8% from 2023. The consensus mark for ENV’s 2024 earnings has moved 3.7% north in the past 30 days.
The Gartner stock has gained 36.1% in the past year. However, shares of Green Dot and Envestnet have declined 48.4% and 25.5%, respectively, in the same time frame.