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Mastercard (MA) Renews Tie-Up, Boosts Digitization in Pakistan
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Mastercard Incorporated (MA - Free Report) expanded its longstanding ties with one of Pakistan’s banks, UBL, under which joint investments will be made to bring about faster and seamless payments for the bank’s card customers. As an outcome of the latest move, UBL’s customers will enjoy a series of lucrative offers, innovative features and hassle-free services using Mastercard-branded cards.
The partnership expansion will also allow the Pakistan-based bank access to the tech giant’s broad portfolio of digital products and solutions, comprising debit and virtual cards. This, in turn, will impart power to the bank’s customers to conduct cross-border and e-commerce payments using debit cards. In addition to this, UBL will be able to utilize the world-class cyber and intelligence resources of Mastercard.
Meanwhile, the bank will work in unison with Mastercard Advisors, which works in 53 countries across a diverse industry base and benefit from top-notch consulting services. Therefore, the renewal of the alliance seems to be a win-win situation for the partners. Enhanced features added within the card offerings are likely to lead to increased card usage and subsequently, bolster MA’s customer base in Pakistan as well as fetch higher revenues from its payment network. The core payment network of Mastercard enables customers to conduct transactions across 210-plus countries and territories, and in more than 150 currencies.
Concerning the benefits for UBL, the expansion of the alliance with Mastercard is expected to upgrade the capabilities of the bank, which will be able to play a pivotal role in transforming the payments landscape of Pakistan. The partners share a strong bond by which they introduced the first premium debit card in Pakistan back in 2010 and seven years later, resorted to launching the first prepaid card.
The ulterior motive of Mastercard behind the latest move remains to promote the widespread adoption of digital means as well as strengthen its presence across Pakistan. And UBL, with an expanding Mastercard-branded debit card portfolio of 1.8 million, seems to be the apt partner to complement the tech giant’s endeavor.
The move also seems to be a time opportune one owing to a booming digital economy in Pakistan, driven by increased Internet penetration and rising smartphone usage. This offers the perfect ground for Mastercard to capitalize on through its extensive card offerings suite, supported by a widespread global payment network, and innovative digital solution suite.
Mastercard follows a public-private partnership strategy in Pakistan and has worked in unison with the government or private sector companies to infuse digitization across various sectors of the economy for more than two decades. By such remarkable initiatives, MA has been successful in establishing a significant share of the nation’s digital payments market.
Shares of Mastercard have gained 16.2% in the past year compared with the industry’s 14.9% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of PagSeguro Digital outpaced estimates in each of the last four quarters, the average beat being 8.95%. The Zacks Consensus Estimate for PAGS’ 2024 earnings suggests an improvement of 14.8% from the 2023 estimate. The consensus mark for revenues suggests growth of 11.1% from the 2023 estimate. The consensus mark for PAGS’ 2024 earnings has moved 2.5% north in the past seven 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 2024 earnings suggests an improvement of 4.6% from the 2023 estimate. The consensus mark for revenues suggests growth of 5.7% from the 2023 estimate. The consensus mark for OMC’s 2024 earnings has moved 0.7% north in the past 60 days.
The bottom line of SPX Technologies outpaced estimates in each of the last four quarters, the average beat being 28.04%. The Zacks Consensus Estimate for SPXC’s 2024 earnings suggests an improvement of 11% from the year-ago reported figure. The consensus mark for revenues suggests growth of 7.4% from the year-ago reported number. SPXC boasts an impressive Value Score of B.
Shares of PagSeguro Digital, Omnicom and SPX Technologies have gained 42%, 6.7% and 40.3%, respectively, in the past year.
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Mastercard (MA) Renews Tie-Up, Boosts Digitization in Pakistan
Mastercard Incorporated (MA - Free Report) expanded its longstanding ties with one of Pakistan’s banks, UBL, under which joint investments will be made to bring about faster and seamless payments for the bank’s card customers. As an outcome of the latest move, UBL’s customers will enjoy a series of lucrative offers, innovative features and hassle-free services using Mastercard-branded cards.
The partnership expansion will also allow the Pakistan-based bank access to the tech giant’s broad portfolio of digital products and solutions, comprising debit and virtual cards. This, in turn, will impart power to the bank’s customers to conduct cross-border and e-commerce payments using debit cards. In addition to this, UBL will be able to utilize the world-class cyber and intelligence resources of Mastercard.
Meanwhile, the bank will work in unison with Mastercard Advisors, which works in 53 countries across a diverse industry base and benefit from top-notch consulting services. Therefore, the renewal of the alliance seems to be a win-win situation for the partners. Enhanced features added within the card offerings are likely to lead to increased card usage and subsequently, bolster MA’s customer base in Pakistan as well as fetch higher revenues from its payment network. The core payment network of Mastercard enables customers to conduct transactions across 210-plus countries and territories, and in more than 150 currencies.
Concerning the benefits for UBL, the expansion of the alliance with Mastercard is expected to upgrade the capabilities of the bank, which will be able to play a pivotal role in transforming the payments landscape of Pakistan. The partners share a strong bond by which they introduced the first premium debit card in Pakistan back in 2010 and seven years later, resorted to launching the first prepaid card.
The ulterior motive of Mastercard behind the latest move remains to promote the widespread adoption of digital means as well as strengthen its presence across Pakistan. And UBL, with an expanding Mastercard-branded debit card portfolio of 1.8 million, seems to be the apt partner to complement the tech giant’s endeavor.
The move also seems to be a time opportune one owing to a booming digital economy in Pakistan, driven by increased Internet penetration and rising smartphone usage. This offers the perfect ground for Mastercard to capitalize on through its extensive card offerings suite, supported by a widespread global payment network, and innovative digital solution suite.
Mastercard follows a public-private partnership strategy in Pakistan and has worked in unison with the government or private sector companies to infuse digitization across various sectors of the economy for more than two decades. By such remarkable initiatives, MA has been successful in establishing a significant share of the nation’s digital payments market.
Shares of Mastercard have gained 16.2% in the past year compared with the industry’s 14.9% 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 PagSeguro Digital Ltd. (PAGS - Free Report) , Omnicom Group Inc. (OMC - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) . PagSeguro Digital sports a Zacks Rank #1 (Strong Buy), Omnicom and SPX Technologies 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 PagSeguro Digital outpaced estimates in each of the last four quarters, the average beat being 8.95%. The Zacks Consensus Estimate for PAGS’ 2024 earnings suggests an improvement of 14.8% from the 2023 estimate. The consensus mark for revenues suggests growth of 11.1% from the 2023 estimate. The consensus mark for PAGS’ 2024 earnings has moved 2.5% north in the past seven 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 2024 earnings suggests an improvement of 4.6% from the 2023 estimate. The consensus mark for revenues suggests growth of 5.7% from the 2023 estimate. The consensus mark for OMC’s 2024 earnings has moved 0.7% north in the past 60 days.
The bottom line of SPX Technologies outpaced estimates in each of the last four quarters, the average beat being 28.04%. The Zacks Consensus Estimate for SPXC’s 2024 earnings suggests an improvement of 11% from the year-ago reported figure. The consensus mark for revenues suggests growth of 7.4% from the year-ago reported number. SPXC boasts an impressive Value Score of B.
Shares of PagSeguro Digital, Omnicom and SPX Technologies have gained 42%, 6.7% and 40.3%, respectively, in the past year.