Yahoo Finance Mastercard (MA) Extends Tie-Up With Sokin to Boost Presence
Mastercard Incorporated MA and the leading financial service provider Sokin recently expanded their collaboration with an aim to make an array of financial service products accessible in 39 new countries spread across the Middle East and Africa.
As part of the multi-year comprehensive partnership deal, the reliable and secured digital-first banking solutions and card services of MA will be put to use by Sokin. In this manner, Mastercard will facilitate the launch of Sokin’s fixed-price payment services across several newer markets in the Middle East and Africa.
Backed by Mastercard, Sokin will extend limitless international money transfers and payments devoid of mark-up on transactions or hidden fees across the abovementioned 39 new countries from this year itself. Apart from benefiting people transferring and receiving money globally on a regular basis, the partnership expansion with Sokin will enable Mastercard to deliver affordable solutions to over 35 million migrant workers in the Middle East and Africa.
The latest tie-up is not only expected to strengthen the partnership between Mastercard and Sokin but also highlight the mutual aim of bringing about an evolution in the financial services landscape of the Middle East and Africa. The evolution, in the form of enhanced digital payment solutions, is likely to be a perfect alternative to age-old banking services for people residing in the Middle East and Africa. The partnership expansion will address the significant headwinds that deprive millions of people of availing opportunities in the rapidly evolving global payments ecosystem and help undertake seamless payments as well as transfers.
Even before Mastercard and Sokin extended their alliance in the Middle East and Africa, both had joined forces in Europe, the U.K., South Asia, Singapore, Latin America, Mexico and Brazil, thereby reflecting the strong bond shared by them. Mastercard invests its trust in Sokin, considering the latter’s capabilities to roll out secured payment solutions and its emergence as a leading fintech offering international payments within a short span of time.
Mastercard remains the preferred choice of fintechs owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence. Mastercard continues to steadily pursue a strategy of entering into partnerships and undertaking significant investments to harness the potential of the digital payments landscape. Teaming up with fintechs over the passage of time has bolstered the capabilities and global presence of the company.
Shares of Mastercard have gained 2.5% in the past six months against the industry’s decline of 14.1%. MA currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Business Services services space are Green Dot Corporation GDOT, ABM Industries Incorporated ABM and FTI Consulting, Inc. FCN. While Green Dot currently flaunts a Zacks Rank #1 (Strong Buy), ABM Industries and FTI Consulting carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Green Dot outpaced estimates in three of the last four quarters and missed once, the average surprise being 20.50%. The Zacks Consensus Estimate for GDOT’s 2022 earnings suggests an improvement of 8.6% from the year-ago reported figure, while the same for revenues suggests growth of 2.3%. The consensus mark for Green Dot’s 2022 earnings has moved 6.2% north in the past 30 days.
ABM Industries’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 11.77%. The Zacks Consensus Estimate for ABM’s 2022 earnings suggests an improvement of 0.8% from the year-ago reported figure, while the same for revenues suggests growth of 25.9%. The consensus mark for ABM Industries’ 2022 earnings has moved north by 0.3% in the past seven days.
The bottom line of FTI Consulting outpaced estimates in each of the last four quarters, the average surprise being 24.40%. The Zacks Consensus Estimate for FCN’s 2022 earnings suggests an improvement of 1.6% from the year-ago reported figure, while the same for revenues suggests growth of 6.2%. The consensus mark for FTI Consulting’s 2022 earnings has moved north by 0.9% in the past 30 days.
FTI Consulting stock has gained 7.7% in the past six months. Meanwhile, shares of Green Dot and ABM Industries have lost 30.7% and 6.4%, respectively, in the same time frame.
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Mastercard Incorporated (MA) : Free Stock Analysis Report
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