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Mastercard (MA) Spearheads Commercial Card Programs in Morocco
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Mastercard Incorporated (MA - Free Report) , in a strategic alliance with Citibank Maghreb, introduced tailored commercial card services in Morocco. These comprehensive offerings encompass travel and entertainment as well as purchasing cards. The transaction, aimed at reshaping business-spend management, promises to elevate operational efficiency and financial adaptability for businesses nationwide.
This groundbreaking commercial card programs underscored the pivotal role of these solutions in facilitating business growth amid Morocco's burgeoning economy and escalating global travel trends.
Driving Digital Innovation
Mastercard, synonymous with digital transformation and financial inclusivity, heralds this collaboration as a significant stride toward fostering a sustainable digital economy in Morocco. By integrating cutting-edge technology with Citibank Maghreb's digital banking expertise, MA aims to empower Morocco companies with bespoke card solutions, ensuring speed, transparency and security in their financial transactions.
Pioneering Financial Solutions
Gonca Latif-Schmitt, Global Commercial Cards Head at Citi, highlights the commitment to innovation and collaboration to transcend conventional banking boundaries. With a focus on leveraging digital channels and strategic partnerships, Citi aims to revolutionize the Morocco market, providing seamless payment solutions for businesses to optimize spend, enhance visibility and fortify their economic standing in the global arena.
Accretive Acquisitions and Partnerships
Over the years, Mastercard used acquisitions to supplement its organic efforts and diversify revenues. This has helped expand its addressable markets, drive new revenue streams and strengthen core product solutions. Some of the recent acquisitions made by the company are CipherTrace, Aiia, Vyze, Nets, RiskRecon, Dynamic Yield and Finicity among others. It expects buyouts to play a significant role in revenue growth in the coming days. MA resorts to partnerships for bolstering its capabilities and global presence.
Its revenues are steadily growing thanks to rising consumer spending, usage of the company’s cards and cross-border volumes. In the first quarter of 2024, management anticipates net revenues to register low-end of low-double-digit growth from the year-ago quarter’s reported figure. Net revenues are estimated to register high-end of low-double-digit growth in 2024.
Price Performance and Zacks Rank
Shares of Mastercard have risen 9.5% in the past year compared with the industry’s 7.3% growth. MA currently carries a Zacks Rank #3 (Hold).
Envestnet delivered a trailing four-quarter average earnings surprise of 7.72%. The stock has risen 12.1% year to date. The Zacks Consensus Estimate for ENV’s 2024 and 2025 earnings implies growth of 20.8% and 18.1%, respectively, from the year-ago figures.
Fidelity National beat on earnings in two of the last four quarters and missed the same in the other two. The stock has risen 16% year to date. The Zacks Consensus Estimate for FIS’ 2024 and 2025 earnings indicates a gain of 37.4% and 12.5%, respectively, from the prior-year levels.
International Money Express beat on earnings in two of the last four quarters and missed the same in the other two. The stock fell 7% year to date. The Zacks Consensus Estimate for IMXI’s 2024 earnings implies a 13.9% increase from the year-ago actuals.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Mastercard (MA) Spearheads Commercial Card Programs in Morocco
Mastercard Incorporated (MA - Free Report) , in a strategic alliance with Citibank Maghreb, introduced tailored commercial card services in Morocco. These comprehensive offerings encompass travel and entertainment as well as purchasing cards. The transaction, aimed at reshaping business-spend management, promises to elevate operational efficiency and financial adaptability for businesses nationwide.
This groundbreaking commercial card programs underscored the pivotal role of these solutions in facilitating business growth amid Morocco's burgeoning economy and escalating global travel trends.
Driving Digital Innovation
Mastercard, synonymous with digital transformation and financial inclusivity, heralds this collaboration as a significant stride toward fostering a sustainable digital economy in Morocco. By integrating cutting-edge technology with Citibank Maghreb's digital banking expertise, MA aims to empower Morocco companies with bespoke card solutions, ensuring speed, transparency and security in their financial transactions.
Pioneering Financial Solutions
Gonca Latif-Schmitt, Global Commercial Cards Head at Citi, highlights the commitment to innovation and collaboration to transcend conventional banking boundaries. With a focus on leveraging digital channels and strategic partnerships, Citi aims to revolutionize the Morocco market, providing seamless payment solutions for businesses to optimize spend, enhance visibility and fortify their economic standing in the global arena.
Accretive Acquisitions and Partnerships
Over the years, Mastercard used acquisitions to supplement its organic efforts and diversify revenues. This has helped expand its addressable markets, drive new revenue streams and strengthen core product solutions. Some of the recent acquisitions made by the company are CipherTrace, Aiia, Vyze, Nets, RiskRecon, Dynamic Yield and Finicity among others. It expects buyouts to play a significant role in revenue growth in the coming days. MA resorts to partnerships for bolstering its capabilities and global presence.
Its revenues are steadily growing thanks to rising consumer spending, usage of the company’s cards and cross-border volumes. In the first quarter of 2024, management anticipates net revenues to register low-end of low-double-digit growth from the year-ago quarter’s reported figure. Net revenues are estimated to register high-end of low-double-digit growth in 2024.
Price Performance and Zacks Rank
Shares of Mastercard have risen 9.5% in the past year compared with the industry’s 7.3% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the same space are Envestnet (ENV - Free Report) , Fidelity National Information Services (FIS - Free Report) and International Money Express (IMXI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Envestnet delivered a trailing four-quarter average earnings surprise of 7.72%. The stock has risen 12.1% year to date. The Zacks Consensus Estimate for ENV’s 2024 and 2025 earnings implies growth of 20.8% and 18.1%, respectively, from the year-ago figures.
Fidelity National beat on earnings in two of the last four quarters and missed the same in the other two. The stock has risen 16% year to date. The Zacks Consensus Estimate for FIS’ 2024 and 2025 earnings indicates a gain of 37.4% and 12.5%, respectively, from the prior-year levels.
International Money Express beat on earnings in two of the last four quarters and missed the same in the other two. The stock fell 7% year to date. The Zacks Consensus Estimate for IMXI’s 2024 earnings implies a 13.9% increase from the year-ago actuals.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.