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Mastercard (MA), Eazy Ties Up to Ramp Up Digitization Amid SMEs
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Mastercard Incorporated (MA - Free Report) recently collaborated with the Bahrain fintech, Eazy Financial Services, in a bid to provide digital payment tools and readily available financial services to the nation’s small and medium-sized enterprises (SMEs) and micro merchants.
Shares of Mastercard lost 0.8% on Jun 30, replicating declines in broader markets.
Coming back, the alliance will result in integration of Mastercard’s innovative payments technology solutions with extensive payment services of Eazy. The tie-up basically intends to aid small businesses and merchants spread across Bahrain while seamlessly transitioning toward a digital landscape. This seems to be the need of the hour as the COVID-19 pandemic compelled most merchants to transform physical stores into online businesses.
Moreover, the recent move highlights Mastercard’s consistent efforts to upgrade the digital payments ecosystem of Bahrain. The company keeps on partnering with the nation’s fintechs and delivers numerous innovative digital payment tools to bring more small businesses under the ambit of a growing digital economy. In May 2021, the company collaborated with Bahrain-based NEC Payments to support several fintechs in launching new solutions and boosting business scale.
Eazy seems to be the apt partner for complementing Mastercard’s endeavor since the former undertakes numerous initiatives to popularize digital payments. The efforts range from introducing a solution to help an untapped segment of merchants in accepting contactless payments to establishing a ‘Biometric Payment Network’ for promoting biometric transactions.
Notably, fintechs form an integral part of Bahrain’s economy and can devise cost-effective solutions for accelerating the digital transformation efforts of SMEs. It’s worth mentioning that SMEs account for roughly 30% of the nation’s GDP. Per a report of Startup Genome, Bahrain has been identified as one of the leading Fintech ecosystems.
Time and again, Mastercard has joined forces with several fintechs across the globe for tapping prospects prevalent in the digital payments market. As a matter of fact, the global fintech market holds ample growth potential courtesy of increased investments in fintechs, higher smartphone usage and rising internet speed. Per a report by Research and Markets, the Global Fintech Market is expected to witness a CAGR of 23.6% over the 2021-2025 period.
Having said that, Mastercard has been offering fintechs necessary assistance ranging from technological support to aiding them in rolling out new products and enhanced payments solutions. This, in turn, has helped the company in enhancing its capabilities, penetrating further into the underserved areas and bolstering global presence.
Over time, several fintechs including Marqeta, Paymentology, Global Processing Services ("GPS") and others have joined Mastercard Fintech Express program.
Mastercard has been the preferred choice of partners for fintechs owing to its strong brand name, local knowledge, extensive network and global presence.
Another company in the same space, Visa Inc. (V - Free Report) introduced Visa Fintech Partner Connect, wherein it will join forces with selected fintech partners and devise a suite of enhanced capabilities for benefiting financial institutions and merchants. Other companies such as Global Payments Inc. (GPN - Free Report) and American Express Company (AXP - Free Report) have also extended a helping hand toward fintechs by rolling out advanced payments and software solutions.
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Mastercard (MA), Eazy Ties Up to Ramp Up Digitization Amid SMEs
Mastercard Incorporated (MA - Free Report) recently collaborated with the Bahrain fintech, Eazy Financial Services, in a bid to provide digital payment tools and readily available financial services to the nation’s small and medium-sized enterprises (SMEs) and micro merchants.
Shares of Mastercard lost 0.8% on Jun 30, replicating declines in broader markets.
Coming back, the alliance will result in integration of Mastercard’s innovative payments technology solutions with extensive payment services of Eazy. The tie-up basically intends to aid small businesses and merchants spread across Bahrain while seamlessly transitioning toward a digital landscape. This seems to be the need of the hour as the COVID-19 pandemic compelled most merchants to transform physical stores into online businesses.
Moreover, the recent move highlights Mastercard’s consistent efforts to upgrade the digital payments ecosystem of Bahrain. The company keeps on partnering with the nation’s fintechs and delivers numerous innovative digital payment tools to bring more small businesses under the ambit of a growing digital economy. In May 2021, the company collaborated with Bahrain-based NEC Payments to support several fintechs in launching new solutions and boosting business scale.
Eazy seems to be the apt partner for complementing Mastercard’s endeavor since the former undertakes numerous initiatives to popularize digital payments. The efforts range from introducing a solution to help an untapped segment of merchants in accepting contactless payments to establishing a ‘Biometric Payment Network’ for promoting biometric transactions.
Notably, fintechs form an integral part of Bahrain’s economy and can devise cost-effective solutions for accelerating the digital transformation efforts of SMEs. It’s worth mentioning that SMEs account for roughly 30% of the nation’s GDP. Per a report of Startup Genome, Bahrain has been identified as one of the leading Fintech ecosystems.
Time and again, Mastercard has joined forces with several fintechs across the globe for tapping prospects prevalent in the digital payments market. As a matter of fact, the global fintech market holds ample growth potential courtesy of increased investments in fintechs, higher smartphone usage and rising internet speed. Per a report by Research and Markets, the Global Fintech Market is expected to witness a CAGR of 23.6% over the 2021-2025 period.
Having said that, Mastercard has been offering fintechs necessary assistance ranging from technological support to aiding them in rolling out new products and enhanced payments solutions. This, in turn, has helped the company in enhancing its capabilities, penetrating further into the underserved areas and bolstering global presence.
Over time, several fintechs including Marqeta, Paymentology, Global Processing Services ("GPS") and others have joined Mastercard Fintech Express program.
Mastercard has been the preferred choice of partners for fintechs owing to its strong brand name, local knowledge, extensive network and global presence.
Another company in the same space, Visa Inc. (V - Free Report) introduced Visa Fintech Partner Connect, wherein it will join forces with selected fintech partners and devise a suite of enhanced capabilities for benefiting financial institutions and merchants. Other companies such as Global Payments Inc. (GPN - Free Report) and American Express Company (AXP - Free Report) have also extended a helping hand toward fintechs by rolling out advanced payments and software solutions.
Zacks Rank & Price Performance
Shares of Mastercard, which carries a Zacks Rank #3 (Hold), have gained 20.7% in a year compared with the industry’s growth of 12.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>