We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mastercard (MA), urpay Unite for Seamless Cross-Border Payments
Read MoreHide Full Article
Mastercard Incorporated (MA - Free Report) recently inked a strategic deal with the fintech, urpay, in a bid to provide the former’s enhanced suite of cross-border payment solutions to the latter’s consumers in the Kingdom. The collaboration will make use of MA’s extensive money transfer capabilities, Mastercard Move, and technology expertise to enable the vast client base of urpay to engage in seamless and safe cross-border remittances.
The Mastercard Move portfolio comprises Mastercard Cross-Border Services and Mastercard Send. These offerings suite facilitate various payment experiences such as person-to-person payments, business transactions and disbursements.
With the help of such innovative services, urpay customers will be empowered to make international payments to more than 180 countries through the urpay digital wallet. Additionally, the customers can also opt for cash pick-up and bank deposits, tailored to their preferences.
The recent partnership reflects Mastercard’s sincere efforts to drive the digital transformation of Saudi’s financial services and minimize headwinds encountered while making cross-border payments. Also, the Kingdom’s digital growth prospects may have propelled MA to sign the agreement with urpay.
With the increased usage of Mastercard Move, the tech giant is likely to derive higher revenues from the utilization of its value-added services and solutions. This revenue component witnessed a 16% year-over-year improvement in the first quarter of 2024.
Through urpay, which has an impressive track record of gaining more than 5 million customers in less than two years, Mastercard will be able to significantly expand the reach of its cross-border services suite. In addition to this, the partners share an aim of fostering a booming digital economy and addressing the increasing demand for modern solutions that meet consumer preferences for quick and secure global money transfers.
Per Mastercard’s latest Borderless Payments research, three-quarters of consumers desire faster international payments, and one in three seeks more choice of payout options to suit the preferences of recipients. Therefore, Mastercard Move will be able to perfectly capitalize on this consumer demand with its extensive suite of money transfer solutions.
Shares of Mastercard have gained 21.1% in the past year compared with the industry’s 17.4% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of RB Global outpaced estimates in each of the last four quarters, the average surprise being 23.18%. The Zacks Consensus Estimate for RBA’s 2024 earnings indicates an improvement of 10% from the year-ago reported figure. The consensus mark for revenues implies growth of 16.8% from the year-ago reported number. The consensus mark for RBA’s earnings has moved 3.1% north in the past 30 days.
Envestnet’s earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 9.36%. The Zacks Consensus Estimate for ENV’s 2024 earnings indicates an improvement of 23.6% from the year-ago reported figure. The consensus mark for revenues implies an improvement of 9.6% from the year-ago reported figure. The consensus mark for ENV’s earnings has moved 1.2% north in the past 60 days.
The bottom line of Omnicom outpaced estimates in each of the last four quarters, the average surprise being 3.21%. The Zacks Consensus Estimate for OMC’s 2024 earnings indicates an improvement of 5.8% from the year-ago reported figure. The consensus mark for revenues implies growth of 6.2% from the year-ago reported number. The consensus mark for OMC’s earnings has moved 0.4% north in the past 60 days.
Shares of RB Global and Envestnet have gained 36.1% and 11.5%, respectively, in the past year. However, the Omnicom stock has lost 5.4% in the same time frame.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Mastercard (MA), urpay Unite for Seamless Cross-Border Payments
Mastercard Incorporated (MA - Free Report) recently inked a strategic deal with the fintech, urpay, in a bid to provide the former’s enhanced suite of cross-border payment solutions to the latter’s consumers in the Kingdom. The collaboration will make use of MA’s extensive money transfer capabilities, Mastercard Move, and technology expertise to enable the vast client base of urpay to engage in seamless and safe cross-border remittances.
The Mastercard Move portfolio comprises Mastercard Cross-Border Services and Mastercard Send. These offerings suite facilitate various payment experiences such as person-to-person payments, business transactions and disbursements.
With the help of such innovative services, urpay customers will be empowered to make international payments to more than 180 countries through the urpay digital wallet. Additionally, the customers can also opt for cash pick-up and bank deposits, tailored to their preferences.
The recent partnership reflects Mastercard’s sincere efforts to drive the digital transformation of Saudi’s financial services and minimize headwinds encountered while making cross-border payments. Also, the Kingdom’s digital growth prospects may have propelled MA to sign the agreement with urpay.
With the increased usage of Mastercard Move, the tech giant is likely to derive higher revenues from the utilization of its value-added services and solutions. This revenue component witnessed a 16% year-over-year improvement in the first quarter of 2024.
Through urpay, which has an impressive track record of gaining more than 5 million customers in less than two years, Mastercard will be able to significantly expand the reach of its cross-border services suite. In addition to this, the partners share an aim of fostering a booming digital economy and addressing the increasing demand for modern solutions that meet consumer preferences for quick and secure global money transfers.
Per Mastercard’s latest Borderless Payments research, three-quarters of consumers desire faster international payments, and one in three seeks more choice of payout options to suit the preferences of recipients. Therefore, Mastercard Move will be able to perfectly capitalize on this consumer demand with its extensive suite of money transfer solutions.
Shares of Mastercard have gained 21.1% in the past year compared with the industry’s 17.4% 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 RB Global, Inc. (RBA - Free Report) , Envestnet, Inc. and Omnicom Group Inc. (OMC - Free Report) . While RB Global currently sports a Zacks Rank #1 (Strong Buy) at present, Envestnet and Omnicom carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of RB Global outpaced estimates in each of the last four quarters, the average surprise being 23.18%. The Zacks Consensus Estimate for RBA’s 2024 earnings indicates an improvement of 10% from the year-ago reported figure. The consensus mark for revenues implies growth of 16.8% from the year-ago reported number. The consensus mark for RBA’s earnings has moved 3.1% north in the past 30 days.
Envestnet’s earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 9.36%. The Zacks Consensus Estimate for ENV’s 2024 earnings indicates an improvement of 23.6% from the year-ago reported figure. The consensus mark for revenues implies an improvement of 9.6% from the year-ago reported figure. The consensus mark for ENV’s earnings has moved 1.2% north in the past 60 days.
The bottom line of Omnicom outpaced estimates in each of the last four quarters, the average surprise being 3.21%. The Zacks Consensus Estimate for OMC’s 2024 earnings indicates an improvement of 5.8% from the year-ago reported figure. The consensus mark for revenues implies growth of 6.2% from the year-ago reported number. The consensus mark for OMC’s earnings has moved 0.4% north in the past 60 days.
Shares of RB Global and Envestnet have gained 36.1% and 11.5%, respectively, in the past year. However, the Omnicom stock has lost 5.4% in the same time frame.