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Mastercard Strengthens Digital Push With GCash 'Tap to Pay' Launch

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Key Takeaways

  • Mastercard partners with GCash and Alipay+ to launch Tap to Pay for contactless global payments.
  • MA aims to expand its digital commerce presence and tap into rising mobile payment demand.
  • Cross-border volume rose 15% in Q2 2025, with net revenues up 17% year over year.

Mastercard Incorporated (MA - Free Report) is expanding its presence in the global digital payments space with the global launch of GCash’s new ‘Tap to Pay’ services, in partnership with Alipay+ and Philippine fintech leader GCash. This initiative allows GCash users to make contactless payments at over 150 million Mastercard acceptance locations around the world with their Near Field Communications-enabled Android devices.

In today’s world, digital wallets are increasingly shaping the future of consumer payments. With more people using smartphones, financial inclusion is on the rise. MA’s involvement adds an extra layer of trust, security and global acceptance, which is an important factor as mobile payments expand beyond just local markets.

For MA, this collaboration boosts its position as a key player in the world of digital commerce. By teaming up with e-wallets like GCash, the company broadens its transaction network while meeting the rising demand for seamless payment solutions in emerging markets.

This partnership is a timely move as cross-border travel rebounds and digital adoption accelerates. Mastercard is poised to witness a boost in transaction volumes, especially across retail, travel and hospitality sectors. In the second quarter of 2025, the company’s cross-border volume rose 15% year over year on a local currency basis, along with 13% year-over-year growth in payment network net revenues. Additionally, it reported 17% year-over-year growth in its net revenues in the same period.

How Are Competitors Faring?

Some of MA’s competitors in the digital wallet space include Visa Inc. (V - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) .

Visa has been aggressive in its digital evolution, particularly through its Visa Token Service. It is partnering with tech giants and focusing on contactless and in-app payments. Visa’s cross-border volume rose 12% year over year in the third quarter of fiscal 2025.

PayPal operates its own digital wallet, with features like PayPal Checkout, Venmo and even crypto trading within the app. PayPal directly connects with users instead of operating behind the scenes. Its total payment volume rose 6% year over year in the second quarter of 2025.

Mastercard’s Price Performance, Valuation & Estimates

In the year-to-date period, MA’s shares have gained 12.6% compared with the industry’s rise of 4.4%.

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From a valuation standpoint, MA trades at a forward price-to-earnings ratio of 32.73, above the industry average of 22.11. MA carries a Value Score of D.

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The Zacks Consensus Estimate for Mastercard’s 2025 earnings implies 11.7% growth from the year-ago period.

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Mastercard currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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