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Mastercard (MA), Payment24 Boost Fuel Payment Security in EEMEA
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Mastercard Incorporated (MA - Free Report) recently announced that it had collaborated with Payment24 to expand their involvement across the Eastern Europe, Middle East, and Africa (EEMEA) region, with the aim of enhancing security and reducing losses. It also intends to foster innovation within the fleet and fuel payment sector in the region.
The partnership with Payment24, a fuel payment fintech firm, serves to accelerate the adoption of the Europay, Mastercard and Visa (EMV) standard and assist fleet operators in mitigating the risks related to magnetic strip fleet cards. The widespread implementation of the EMV standard across more than 80 markets has significantly decreased instances of counterfeit card fraud, resulting in substantial savings. Visa Inc. (V - Free Report) , one of the companies that created the standard, is also experiencing growth in the fleet and fuel payment space with its extensive network.
This joint effort of MA and Payment24 will offer advanced fleet and fuel payment solutions to banks and fleet card issuers in the EEMEA region, which will enhance security and convenience for customers. It can also help in lowering the usage of cash.
This collaboration extends the reach of Mastercard's payment solutions and enables clients to access an end-to-end Fleet Management solution. This facilitates the swift deployment and expansion of their secure fleet and fuel payment offerings. Additionally, the move is expected to reinforce Mastercard's presence in the fleet and fuel payment industry, opening up new market opportunities and driving business growth.
The collaboration highlights Mastercard's dedication to bolstering its technological expertise, range of service offerings, and data analytics capacities. The broad range of services provided by the company offers benefits of revenue diversification. There is an increasing need for its service offerings, such as cybersecurity and other capabilities.
Rising transaction volume propels growth in service revenues. Hence, the momentum in the fleet and fuel payment industry is anticipated to lead to revenue expansion. Mastercard is consistently broadening its service portfolio through new alliances and acquisitions.
Price Movements
Shares of Mastercard have gained 22.4% in the past year compared with the industry’s 19.2% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Global Payments’ 2024 earnings is currently pegged at $11.63 per share, indicating 11.6% year-over-year growth. It beat estimates in each of the past four quarters with an average surprise of 1.1%. The consensus mark for GPN’s revenues of $9.2 billion suggests a 6.4% increase from the year-ago level.
The Zacks Consensus Estimate for WEX’s 2024 earnings of $16.26 per share suggests 9.8% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 3.3%. The consensus estimate for WEX’s current year revenues is pegged at $2.7 billion, indicating a 7.6% increase from a year ago.
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Mastercard (MA), Payment24 Boost Fuel Payment Security in EEMEA
Mastercard Incorporated (MA - Free Report) recently announced that it had collaborated with Payment24 to expand their involvement across the Eastern Europe, Middle East, and Africa (EEMEA) region, with the aim of enhancing security and reducing losses. It also intends to foster innovation within the fleet and fuel payment sector in the region.
The partnership with Payment24, a fuel payment fintech firm, serves to accelerate the adoption of the Europay, Mastercard and Visa (EMV) standard and assist fleet operators in mitigating the risks related to magnetic strip fleet cards. The widespread implementation of the EMV standard across more than 80 markets has significantly decreased instances of counterfeit card fraud, resulting in substantial savings. Visa Inc. (V - Free Report) , one of the companies that created the standard, is also experiencing growth in the fleet and fuel payment space with its extensive network.
This joint effort of MA and Payment24 will offer advanced fleet and fuel payment solutions to banks and fleet card issuers in the EEMEA region, which will enhance security and convenience for customers. It can also help in lowering the usage of cash.
This collaboration extends the reach of Mastercard's payment solutions and enables clients to access an end-to-end Fleet Management solution. This facilitates the swift deployment and expansion of their secure fleet and fuel payment offerings. Additionally, the move is expected to reinforce Mastercard's presence in the fleet and fuel payment industry, opening up new market opportunities and driving business growth.
The collaboration highlights Mastercard's dedication to bolstering its technological expertise, range of service offerings, and data analytics capacities. The broad range of services provided by the company offers benefits of revenue diversification. There is an increasing need for its service offerings, such as cybersecurity and other capabilities.
Rising transaction volume propels growth in service revenues. Hence, the momentum in the fleet and fuel payment industry is anticipated to lead to revenue expansion. Mastercard is consistently broadening its service portfolio through new alliances and acquisitions.
Price Movements
Shares of Mastercard have gained 22.4% in the past year compared with the industry’s 19.2% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Business Services space are Global Payments Inc. (GPN - Free Report) and WEX Inc. (WEX - 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.
The Zacks Consensus Estimate for Global Payments’ 2024 earnings is currently pegged at $11.63 per share, indicating 11.6% year-over-year growth. It beat estimates in each of the past four quarters with an average surprise of 1.1%. The consensus mark for GPN’s revenues of $9.2 billion suggests a 6.4% increase from the year-ago level.
The Zacks Consensus Estimate for WEX’s 2024 earnings of $16.26 per share suggests 9.8% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 3.3%. The consensus estimate for WEX’s current year revenues is pegged at $2.7 billion, indicating a 7.6% increase from a year ago.