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Mastercard (MA) Teams Up to Make Digital Payments Safer in Egypt
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Mastercard Incorporated (MA - Free Report) recently teamed up with Egypt’s ALEXBANK, a subsidiary of one of the top European banking groups in terms of market capitalization - Intesa Sanpaolo group. The partnership will make use of MA’s multi-rail prowess, and growing portfolio of programs and services in a bid to expand the exclusive credit card base and acquiring business of the bank.
The partners will collaborate to launch innovative payment solutions for the bank’s cardholders, with a particular focus on introducing payment benefits tailored to address the spending behavior of consumers. Therefore, the ulterior motive of the tech giant remains to upgrade the payment experience of ALEXBANK’s cardholders and make the financial services landscape of Egypt safe for digital transactions. To complement this endeavor, the bank will also utilize the top-notch fraud detection tools and cybersecurity solutions portfolio of Mastercard.
Therefore, the recent partnership is expected to lead to increased utilization of Mastercard’s solutions and fetch higher value-added services and solutions net revenues to the company. Meanwhile, the move is likely to equip the bank to win more clients across Egypt.
Additionally, such tie-ups bear testament to the digital transformation efforts often followed by Mastercard in Egypt. The reason behind MA’s intensified focus on the country can be attributed to its thriving digital economy, which has compelled the tech giant to pursue a spree of partnerships with financial service providers. In 2023, Mastercard teamed up with two Egyptian banks, Societe Arabe Internationale De Banque and Industrial Development Bank to drive digital growth in Egypt.
Mastercard leaves no stone unturned in infusing digitization into the daily lives of people residing across digitally booming countries and therefore, undertakes frequent moves to complement the same. In this manner, it has been successful in occupying a significant share of the global digital payments market and substantiates the trust that governments, businesses and consumers place on the tech giant for safer payments.
Recently, MA tied up with the Central Bank of Jordan to devise a payment ecosystem digitization blueprint for the Middle East country. Mastercard expertise will be put to use by Jordan’s central bank to ramp up the digitization of payments and widen acceptance. MA will also conduct an in-depth analysis of payment flows between businesses, consumers and the government for solving headwinds encountered related to policy and regulation.
Shares of Mastercard have gained 27.8% in the past year compared with the industry’s 19.8% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of SPX Technologies outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 23.19%. The Zacks Consensus Estimate for SPXC’s 2024 earnings suggests an improvement of 16.7% from the year-ago reported figure. The consensus mark for revenues suggests growth of 13.1% from the year-ago reported number. The consensus mark for SPXC’s 2024 earnings has moved 5.5% north in the past 30 days.
APi Group’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.05%. The Zacks Consensus Estimate for APG’s 2024 earnings suggests an improvement of 15.2% from the year-ago reported figure. The same for revenues suggests growth of 3.2% from the year-ago reported number. The consensus mark for APG’s 2024 earnings has moved 1.1% north in the past seven days.
The bottom line of Stericycle outpaced estimates in two of the last four quarters, met the mark once and missed the same on the remaining one occasion, the average beat being 4.15%. The Zacks Consensus Estimate for SRCL’s 2024 earnings suggests an improvement of 21.7% from the year-ago reported figure. The same for revenues suggests growth of 2.6% from the year-ago reported number. The consensus mark for SRCL’s 2024 earnings has moved 4.5% north in the past seven days.
Shares of SPX Technologies, APi Group and Stericycle have gained 63.3%, 62.2% and 14.3%, respectively, in the past year.
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Mastercard (MA) Teams Up to Make Digital Payments Safer in Egypt
Mastercard Incorporated (MA - Free Report) recently teamed up with Egypt’s ALEXBANK, a subsidiary of one of the top European banking groups in terms of market capitalization - Intesa Sanpaolo group. The partnership will make use of MA’s multi-rail prowess, and growing portfolio of programs and services in a bid to expand the exclusive credit card base and acquiring business of the bank.
The partners will collaborate to launch innovative payment solutions for the bank’s cardholders, with a particular focus on introducing payment benefits tailored to address the spending behavior of consumers. Therefore, the ulterior motive of the tech giant remains to upgrade the payment experience of ALEXBANK’s cardholders and make the financial services landscape of Egypt safe for digital transactions. To complement this endeavor, the bank will also utilize the top-notch fraud detection tools and cybersecurity solutions portfolio of Mastercard.
Therefore, the recent partnership is expected to lead to increased utilization of Mastercard’s solutions and fetch higher value-added services and solutions net revenues to the company. Meanwhile, the move is likely to equip the bank to win more clients across Egypt.
Additionally, such tie-ups bear testament to the digital transformation efforts often followed by Mastercard in Egypt. The reason behind MA’s intensified focus on the country can be attributed to its thriving digital economy, which has compelled the tech giant to pursue a spree of partnerships with financial service providers. In 2023, Mastercard teamed up with two Egyptian banks, Societe Arabe Internationale De Banque and Industrial Development Bank to drive digital growth in Egypt.
Mastercard leaves no stone unturned in infusing digitization into the daily lives of people residing across digitally booming countries and therefore, undertakes frequent moves to complement the same. In this manner, it has been successful in occupying a significant share of the global digital payments market and substantiates the trust that governments, businesses and consumers place on the tech giant for safer payments.
Recently, MA tied up with the Central Bank of Jordan to devise a payment ecosystem digitization blueprint for the Middle East country. Mastercard expertise will be put to use by Jordan’s central bank to ramp up the digitization of payments and widen acceptance. MA will also conduct an in-depth analysis of payment flows between businesses, consumers and the government for solving headwinds encountered related to policy and regulation.
Shares of Mastercard have gained 27.8% in the past year compared with the industry’s 19.8% 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 SPX Technologies, Inc. (SPXC - Free Report) , APi Group Corporation (APG - Free Report) and Stericycle, Inc. (SRCL - Free Report) . While SPX Technologies sports a Zacks Rank #1 (Strong Buy), APi Group and Stericycle carries 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 SPX Technologies outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 23.19%. The Zacks Consensus Estimate for SPXC’s 2024 earnings suggests an improvement of 16.7% from the year-ago reported figure. The consensus mark for revenues suggests growth of 13.1% from the year-ago reported number. The consensus mark for SPXC’s 2024 earnings has moved 5.5% north in the past 30 days.
APi Group’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 5.05%. The Zacks Consensus Estimate for APG’s 2024 earnings suggests an improvement of 15.2% from the year-ago reported figure. The same for revenues suggests growth of 3.2% from the year-ago reported number. The consensus mark for APG’s 2024 earnings has moved 1.1% north in the past seven days.
The bottom line of Stericycle outpaced estimates in two of the last four quarters, met the mark once and missed the same on the remaining one occasion, the average beat being 4.15%. The Zacks Consensus Estimate for SRCL’s 2024 earnings suggests an improvement of 21.7% from the year-ago reported figure. The same for revenues suggests growth of 2.6% from the year-ago reported number. The consensus mark for SRCL’s 2024 earnings has moved 4.5% north in the past seven days.
Shares of SPX Technologies, APi Group and Stericycle have gained 63.3%, 62.2% and 14.3%, respectively, in the past year.