We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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 Brings Tokenization to Amazon to Ease Payments
Read MoreHide Full Article
Mastercard Inc. (MA - Free Report) has announced that it will provide tokenization service to Amazon.com, Inc. (AMZN - Free Report) customers in 12 countries across North America, Latin America, the Middle East and Europe. The company will begin using Mastercard tokens via the Mastercard Digital Enablement Service (MDES) for transactions through 2020.
Mastercard’s MDES is a frictionless commerce platform, which is live with more than 2,600 issuers and 1,200 token requestors around the world. As e-commerce sees continued rapid growth trend among American consumers, especially amid the COVID-19 outbreak, which is coercing consumers to stay at home and shop online, Mastercard ceaselessly looks for ways to make those digital transactions safer.
One way of ensuring security to customer remittances is via tokenization. Mastercard’s Token Service standard is a security technology that replaces cardholder information, such as account numbers and expiration dates with a unique digital identifier (a token) that can be used for payment without exposing a cardholder’s more sensitive account information. Tokenization hides consumers’ confidential account information during digital transactions, making digital payments safe and convenient for everyone, everywhere.
Boom in e-commerce activity prompted people to shop online and store the card information for payment across various websites and via multiple devices, such as phone, laptop et al. Mastercard’s tokenization service enables customers to operate via multiple devices by automatically updating the card data stored in files. Unlike the physical cards, the network tokens have no expiry date as such and the credentials of new cards received in exchange of old outdated cards will be automatically updated. This technique of elimination and revision of card numbers and other related information facilitates the payment process.
Mastercard’s tokenization method creates visual cues, displaying familiar card art that instills consumer trust in the preferred payment mode. Such a seamless system increases the chances of completing a purchase. Notably, research proves that 80% cardholders are likely to accomplish a purchase when the image of their specific credit card is shown.
The need for tokenization is propelled by a rapid shift to online purchases, which is imperative to simplify the checkout process. Easy payment process reduces customer attrition and the subsequent shopping cart abandonment.
Mastercard’s tokenization service is a testament to its superior and high-tech digital product suite, which will go a long way in improving the shopping experience and boosting approval rates.
The company has gained 33.7% in the past three months compared with its industry’s growth 31.2%.
Its peer Visa Inc. (V - Free Report) also provides card tokenization via its Visa Token Service (VTS).
Mastercard currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same space is Green Dot Corporation (GDOT - Free Report) , presently carrying a Zacks Rank #2 (Buy). The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 247.59%.
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.
Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
Image: Bigstock
Mastercard Brings Tokenization to Amazon to Ease Payments
Mastercard Inc. (MA - Free Report) has announced that it will provide tokenization service to Amazon.com, Inc. (AMZN - Free Report) customers in 12 countries across North America, Latin America, the Middle East and Europe. The company will begin using Mastercard tokens via the Mastercard Digital Enablement Service (MDES) for transactions through 2020.
Mastercard’s MDES is a frictionless commerce platform, which is live with more than 2,600 issuers and 1,200 token requestors around the world.
As e-commerce sees continued rapid growth trend among American consumers, especially amid the COVID-19 outbreak, which is coercing consumers to stay at home and shop online, Mastercard ceaselessly looks for ways to make those digital transactions safer.
One way of ensuring security to customer remittances is via tokenization. Mastercard’s Token Service standard is a security technology that replaces cardholder information, such as account numbers and expiration dates with a unique digital identifier (a token) that can be used for payment without exposing a cardholder’s more sensitive account information. Tokenization hides consumers’ confidential account information during digital transactions, making digital payments safe and convenient for everyone, everywhere.
Boom in e-commerce activity prompted people to shop online and store the card information for payment across various websites and via multiple devices, such as phone, laptop et al. Mastercard’s tokenization service enables customers to operate via multiple devices by automatically updating the card data stored in files. Unlike the physical cards, the network tokens have no expiry date as such and the credentials of new cards received in exchange of old outdated cards will be automatically updated. This technique of elimination and revision of card numbers and other related information facilitates the payment process.
Mastercard’s tokenization method creates visual cues, displaying familiar card art that instills consumer trust in the preferred payment mode. Such a seamless system increases the chances of completing a purchase. Notably, research proves that 80% cardholders are likely to accomplish a purchase when the image of their specific credit card is shown.
The need for tokenization is propelled by a rapid shift to online purchases, which is imperative to simplify the checkout process. Easy payment process reduces customer attrition and the subsequent shopping cart abandonment.
Mastercard’s tokenization service is a testament to its superior and high-tech digital product suite, which will go a long way in improving the shopping experience and boosting approval rates.
The company has gained 33.7% in the past three months compared with its industry’s growth 31.2%.
Its peer Visa Inc. (V - Free Report) also provides card tokenization via its Visa Token Service (VTS).
Mastercard currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same space is Green Dot Corporation (GDOT - Free Report) , presently carrying a Zacks Rank #2 (Buy). The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 247.59%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.
Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
Click Here, See It Free >>