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 Expands Tie-Up to Fortify Presence in Asia Pacific
Read MoreHide Full Article
Mastercard Incorporated (MA - Free Report) recently expanded its collaboration with EedenBull — a fintech firm based in Norway, Scotland and Singapore. Prior to this deal, both the companies also expanded their alliance in Europe this month.
Through this extended tie up in Asia Pacific, Mastercard will back EedenBull in rolling out a commercial cards platform. The new digital platform is intended to offer enhanced commercial payments services in Asia Pacific for banks and their business clients. Apart from the new platform, they will also get access to EedenBull’s spend management platform—Q Business. Notably, Q Business, which is provided by a network of banks in the Nordics, offers a seamless digital solution for easing the time-consuming processing of cash and checks.
Furthermore, we believe the latest move by Mastercard highlights the company’s constant efforts to strengthen presence in the Asia Pacific region. It has been investing heavily to embrace newer technologies and partnering with several organizations to capitalize on prospects present in the business-to-business (B2B) payments market of Asia Pacific. This month itself, Mastercard unveiled Soft POS in India by teaming up with Axis Bank and Worldline. Notably, Southeast Asia’s super app — Grab — launched a digital prepaid card in June backed by Mastercard in the Philippines.
Apart from penetrating further into the Asia Pacific region, these initiatives definitely hint toward growing demand for cashless payments in Asia Pacific amid the COVID-19 pandemic, where homebound people find digital transactions convenient. Per a study by MasterCard, this trend is here to stay even in the post COVID-19 world. According to the same study, almost half of the respondents in the Asia-Pacific region confirmed that they are adopting cashless transactions more often.
Notably, digital transactions have been gaining momentum globally for quite some time, with the pandemic accelerating the trend further. We believe that the growing popularity of contactless payments and the rising adoption of digital transactions worldwide are likely to position Mastercard well for long-term growth.
Furthermore, the company is experiencing a revival in business volumes, driven by normalization in most markets courtesy of gradual reopening of businesses. The company’s switched volume and switched transactions have been displaying an improving trend, partly backed by the easing of social-distancing measures in several markets and the positive impact drawn from the fiscal stimulus offered in the United States. We note that switched transactions, which were down 7% for the week ending on May 28, reported a rise of 1% in the week ending Jun 21.
Zacks Rank & Share Price Performance
Shares of the company have gained 8.5% in a year compared with the industry’s growth of 2.9%. Other companies in the same space, namely, Global Payments Inc. (GPN - Free Report) , The Western Union Company (WU - Free Report) and Visa Inc. (V - Free Report) have rallied 0.2%, 5.7% and 8.9%, respectively, in a year’s time.
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 +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Mastercard Expands Tie-Up to Fortify Presence in Asia Pacific
Mastercard Incorporated (MA - Free Report) recently expanded its collaboration with EedenBull — a fintech firm based in Norway, Scotland and Singapore. Prior to this deal, both the companies also expanded their alliance in Europe this month.
Through this extended tie up in Asia Pacific, Mastercard will back EedenBull in rolling out a commercial cards platform. The new digital platform is intended to offer enhanced commercial payments services in Asia Pacific for banks and their business clients. Apart from the new platform, they will also get access to EedenBull’s spend management platform—Q Business. Notably, Q Business, which is provided by a network of banks in the Nordics, offers a seamless digital solution for easing the time-consuming processing of cash and checks.
Furthermore, we believe the latest move by Mastercard highlights the company’s constant efforts to strengthen presence in the Asia Pacific region. It has been investing heavily to embrace newer technologies and partnering with several organizations to capitalize on prospects present in the business-to-business (B2B) payments market of Asia Pacific. This month itself, Mastercard unveiled Soft POS in India by teaming up with Axis Bank and Worldline. Notably, Southeast Asia’s super app — Grab — launched a digital prepaid card in June backed by Mastercard in the Philippines.
Apart from penetrating further into the Asia Pacific region, these initiatives definitely hint toward growing demand for cashless payments in Asia Pacific amid the COVID-19 pandemic, where homebound people find digital transactions convenient. Per a study by MasterCard, this trend is here to stay even in the post COVID-19 world. According to the same study, almost half of the respondents in the Asia-Pacific region confirmed that they are adopting cashless transactions more often.
Notably, digital transactions have been gaining momentum globally for quite some time, with the pandemic accelerating the trend further. We believe that the growing popularity of contactless payments and the rising adoption of digital transactions worldwide are likely to position Mastercard well for long-term growth.
Furthermore, the company is experiencing a revival in business volumes, driven by normalization in most markets courtesy of gradual reopening of businesses. The company’s switched volume and switched transactions have been displaying an improving trend, partly backed by the easing of social-distancing measures in several markets and the positive impact drawn from the fiscal stimulus offered in the United States. We note that switched transactions, which were down 7% for the week ending on May 28, reported a rise of 1% in the week ending Jun 21.
Zacks Rank & Share Price Performance
Shares of the company have gained 8.5% in a year compared with the industry’s growth of 2.9%. Other companies in the same space, namely, Global Payments Inc. (GPN - Free Report) , The Western Union Company (WU - Free Report) and Visa Inc. (V - Free Report) have rallied 0.2%, 5.7% and 8.9%, respectively, in a year’s time.
The stock carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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 +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>