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Mastercard and PayPal Expand Instant Money Transfer Service
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Mastercard Incorporated (MA - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) are extending their Instant Transfer feature to Singapore and multiple markets in Europe, following the success of instant transfer service in the United States.
This service will allow PayPal users to transfer their account balances to eligible Mastercard cards seamlessly and conveniently, typically within seconds. The wider roll out of this service will lead to increased engagement for Mastercard customers.
Mastercard Send is the global payment network’s entry into real-time personal payments. It has partnered with banks, businesses and digital wallets to deliver money to bank accounts, prepaid debit cards, mobile wallets and select cashout locations.
Mastercard has been offering this service along with PayPal since 2017. Customers prefer immediate access to money and Mastercard send fulfills this need. Availability of instant funds also makes this service attractive for businesses as it eases their working capital requirements and reduces capital lock-in, thereby providing them financial flexibility.
Mastercard constantly partners with merchants, processors, digital players and partners to expand customer base and business across different products and services. The company, with a market capital of $292 billion, is a leading payment processor with a solid and profitable business model.
Year to date, the stock has gained 54.6% compared with the industry’s growth of 42.4%.
Mastercard is poised for long-term growth given the continued flux in the way payments are being made. With the growing share of ecommerce, online payments have been increasing as well. This trend includes the usage of new-age payment methods such as cards, mobile, online and wearable. All these payment methods will continue to fuel the demand for Mastercard’s payment processing services. Another company, Visa Inc. (V - Free Report) , with a similar business model as Mastercard, is also witnessing wide use of its payment processing network.
Mastercard carries a Zacks Rank #2 (Buy). Another stock worth considering is Global Payments Inc. (GPN - Free Report) . The stock sports a Zacks Rank #1 (Strong Buy) and has surpassed estimates in each of the four reported quarters with an average positive surprise of 4.84%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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Mastercard and PayPal Expand Instant Money Transfer Service
Mastercard Incorporated (MA - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) are extending their Instant Transfer feature to Singapore and multiple markets in Europe, following the success of instant transfer service in the United States.
This service will allow PayPal users to transfer their account balances to eligible Mastercard cards seamlessly and conveniently, typically within seconds. The wider roll out of this service will lead to increased engagement for Mastercard customers.
Mastercard Send is the global payment network’s entry into real-time personal payments. It has partnered with banks, businesses and digital wallets to deliver money to bank accounts, prepaid debit cards, mobile wallets and select cashout locations.
Mastercard has been offering this service along with PayPal since 2017. Customers prefer immediate access to money and Mastercard send fulfills this need. Availability of instant funds also makes this service attractive for businesses as it eases their working capital requirements and reduces capital lock-in, thereby providing them financial flexibility.
Mastercard constantly partners with merchants, processors, digital players and partners to expand customer base and business across different products and services. The company, with a market capital of $292 billion, is a leading payment processor with a solid and profitable business model.
Year to date, the stock has gained 54.6% compared with the industry’s growth of 42.4%.
Mastercard is poised for long-term growth given the continued flux in the way payments are being made. With the growing share of ecommerce, online payments have been increasing as well. This trend includes the usage of new-age payment methods such as cards, mobile, online and wearable. All these payment methods will continue to fuel the demand for Mastercard’s payment processing services. Another company, Visa Inc. (V - Free Report) , with a similar business model as Mastercard, is also witnessing wide use of its payment processing network.
Mastercard carries a Zacks Rank #2 (Buy). Another stock worth considering is Global Payments Inc. (GPN - Free Report) . The stock sports a Zacks Rank #1 (Strong Buy) and has surpassed estimates in each of the four reported quarters with an average positive surprise of 4.84%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>