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Mastercard (MA) & Uber Collaborate to Launch New Prepaid Card
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Mastercard Incorporated (MA - Free Report) recently teamed up with Uber Technologies, Inc. (UBER - Free Report) to launch their new Uber Pro Card in Canada, powered by the company’s payment network. This partnership will allow Uber drivers and delivery partners to get free instant payouts after every delivery or trip, coupled with loyalty features on the Uber platform.
This move bodes well for Mastercard as it will increase the number of transactions processed, enhancing its top line. Partnerships similar to the latest one result in the increased usage of Mastercard’s solutions. This move will also bring Mastercard closer to its aim of infusing digitization by empowering people and businesses to use digital payments. Prepaid business cards are part of new payment flows for Mastercard, aiming to capture a larger share of the addressable market, which is left untapped.
The new Uber Pro card will offer exclusive cash backs, helping drivers and delivery partners save up to 8% on EV charging and 4% on gas and other expenses. Mastercard is aiding Uber to provide app-based workers with instant access to their earnings, improving their experience and enabling them to scale their business when needed.
With this card, Mastercard is expanding its offerings by including prepaid cards in addition to its debit and credit cards. The prepaid card business is expected to grow by a huge margin in the future, as it aids companies in controlling their expenses and improves employee experience. Mastercard is expected to leverage its unique products, like this one, to drive financial inclusion. Prepaid cards, unlike conventional debit cards, do not need a bank account to operate, enabling Mastercard to reach the unbanked population of the world.
With the new Uber Pro card, users will be able to make seamless payments via their mobile wallets and transfer funds, get rewards and manage savings. Uber Pro card can be used at all Mastercard acceptance points, enhancing user experience. Mastercard is also providing Mastercard Easy Savings and Easy Savings Specials as built-in tools for drivers and delivery owners.
Shares of Mastercard have gained 29.9% in the past year compared with the industry’s 21.4% 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.
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 and Stericycle have gained 63.3% and 14.3%, respectively, in the past year.
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Mastercard (MA) & Uber Collaborate to Launch New Prepaid Card
Mastercard Incorporated (MA - Free Report) recently teamed up with Uber Technologies, Inc. (UBER - Free Report) to launch their new Uber Pro Card in Canada, powered by the company’s payment network. This partnership will allow Uber drivers and delivery partners to get free instant payouts after every delivery or trip, coupled with loyalty features on the Uber platform.
This move bodes well for Mastercard as it will increase the number of transactions processed, enhancing its top line. Partnerships similar to the latest one result in the increased usage of Mastercard’s solutions. This move will also bring Mastercard closer to its aim of infusing digitization by empowering people and businesses to use digital payments. Prepaid business cards are part of new payment flows for Mastercard, aiming to capture a larger share of the addressable market, which is left untapped.
The new Uber Pro card will offer exclusive cash backs, helping drivers and delivery partners save up to 8% on EV charging and 4% on gas and other expenses. Mastercard is aiding Uber to provide app-based workers with instant access to their earnings, improving their experience and enabling them to scale their business when needed.
With this card, Mastercard is expanding its offerings by including prepaid cards in addition to its debit and credit cards. The prepaid card business is expected to grow by a huge margin in the future, as it aids companies in controlling their expenses and improves employee experience. Mastercard is expected to leverage its unique products, like this one, to drive financial inclusion. Prepaid cards, unlike conventional debit cards, do not need a bank account to operate, enabling Mastercard to reach the unbanked population of the world.
With the new Uber Pro card, users will be able to make seamless payments via their mobile wallets and transfer funds, get rewards and manage savings. Uber Pro card can be used at all Mastercard acceptance points, enhancing user experience. Mastercard is also providing Mastercard Easy Savings and Easy Savings Specials as built-in tools for drivers and delivery owners.
Shares of Mastercard have gained 29.9% in the past year compared with the industry’s 21.4% growth. 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 SPX Technologies, Inc. (SPXC - Free Report) and Stericycle, Inc. (SRCL - Free Report) . While SPX Technologies sports a Zacks Rank #1 (Strong Buy), 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.
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 and Stericycle have gained 63.3% and 14.3%, respectively, in the past year.