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Mastercard's (MA) Latest Launch to Simplify Payments in Bahrain
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Mastercard Incorporated (MA - Free Report) recently forged an alliance with Payment International Enterprise for introducing the digital first program FLOOSS. This latest launch provides financial services across the Kingdom of Bahrain.
With this banking alternative, consumers get a virtual card within a few minutes and pay online. It provides plenty of financial choices, which adds to the flexibility. One can use a Mastercard prepaid card at stores and ATMs across the globe.
The application process for FLOOSS is quite simple and streamlined as a customer does not need to open a bank account for the same. Customers can enjoy seamless transaction processes along with easy deposit and withdrawals. Moreover, the FLOOSS application provides reminders to clients for outstanding bills, helps tracking transactions, etc.
Some other key features of the app are utility bill payments, telecom services, gift vouchers for entertainment and gaming, etc. The best part is that the user data is completely safe owing to high security standards and the state-of-the-art security technologies.
This is a top-class alternative to traditional payments system. Given the current situation, the entire digital payments space is thriving with opportunities. Higher adoption of digital payments is also courtesy of the rising preference for e-commerce. But the outbreak of the COVID-19 pandemic a couple of years ago provided further acceleration.
As people across the globe were confined to homes to avoid the risk of exposure to the coronavirus and also with the brick-and-mortar stores being shut, e-commerce sales saw a surge, boosting digital paperless payments as a safe transaction mode. Evidently, this cashless method evades physical contact.
Even as the vaccination drive picks up across major global economies, leading to the gradual reopening of businesses and activities, both e-commerce and digital payments are poised to grow as a result of the many conveniences they provide.
The leading financial transaction services player solidified its position as a technological partner for digital first-use cases. The player is also making efforts to modify the digital payments space and virtual banking in Bahrain. In July 2021, MA collaborated with the Bahrain fintech Eazy Financial Services to provide digital payment tools and readily available financial services to the nation’s small and medium-sized enterprises (SMEs) and micro merchants. Bahrain holds plenty of prospects for financial transaction players. This is evident from the fact that in the first six months of 2021, POS and ecommerce transactions in Bahrain crossed $3.62 billion (per Central Bank of Bahrain). This is not the first time that Mastercard tied up with fintechs to enhance its capabilities and strengthen its payments vertical.
As a matter of fact, the global fintech market holds ample growth potential, courtesy of increased investments in fintechs, higher smartphone usage and the rising internet speed.
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, helped MA enrich its capabilities, penetrating further into the underserved areas and bolstering its global presence.
Another company in the same space, Visa Inc. (V - Free Report) , have also partnered fintechs in the past and provided a suite of enhanced capabilities. Visa is poised well for growth owing to BNPL, crypto and other fintechs.
Some better-ranked stocks in the same space are WEX Inc. (WEX - Free Report) and Houlihan Lokey, Inc. (HLI - Free Report) .
WEX came up with a trailing four-quarter earnings surprise of 9.9%, on average, while HLI delivered a preceding four-quarter average earnings surprise of 28.1%.
While shares of WEX have shed 21% in a year's time, the same for HLI have gained 67.3%.
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Mastercard's (MA) Latest Launch to Simplify Payments in Bahrain
Mastercard Incorporated (MA - Free Report) recently forged an alliance with Payment International Enterprise for introducing the digital first program FLOOSS. This latest launch provides financial services across the Kingdom of Bahrain.
With this banking alternative, consumers get a virtual card within a few minutes and pay online. It provides plenty of financial choices, which adds to the flexibility. One can use a Mastercard prepaid card at stores and ATMs across the globe.
The application process for FLOOSS is quite simple and streamlined as a customer does not need to open a bank account for the same. Customers can enjoy seamless transaction processes along with easy deposit and withdrawals. Moreover, the FLOOSS application provides reminders to clients for outstanding bills, helps tracking transactions, etc.
Some other key features of the app are utility bill payments, telecom services, gift vouchers for entertainment and gaming, etc. The best part is that the user data is completely safe owing to high security standards and the state-of-the-art security technologies.
This is a top-class alternative to traditional payments system. Given the current situation, the entire digital payments space is thriving with opportunities. Higher adoption of digital payments is also courtesy of the rising preference for e-commerce. But the outbreak of the COVID-19 pandemic a couple of years ago provided further acceleration.
As people across the globe were confined to homes to avoid the risk of exposure to the coronavirus and also with the brick-and-mortar stores being shut, e-commerce sales saw a surge, boosting digital paperless payments as a safe transaction mode. Evidently, this cashless method evades physical contact.
Even as the vaccination drive picks up across major global economies, leading to the gradual reopening of businesses and activities, both e-commerce and digital payments are poised to grow as a result of the many conveniences they provide.
The leading financial transaction services player solidified its position as a technological partner for digital first-use cases. The player is also making efforts to modify the digital payments space and virtual banking in Bahrain. In July 2021, MA collaborated with the Bahrain fintech Eazy Financial Services to provide digital payment tools and readily available financial services to the nation’s small and medium-sized enterprises (SMEs) and micro merchants.
Bahrain holds plenty of prospects for financial transaction players. This is evident from the fact that in the first six months of 2021, POS and ecommerce transactions in Bahrain crossed $3.62 billion (per Central Bank of Bahrain). This is not the first time that Mastercard tied up with fintechs to enhance its capabilities and strengthen its payments vertical.
As a matter of fact, the global fintech market holds ample growth potential, courtesy of increased investments in fintechs, higher smartphone usage and the rising internet speed.
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, helped MA enrich its capabilities, penetrating further into the underserved areas and bolstering its global presence.
Shares of the currently Zacks Rank #3 (Hold) player have gained 13.1% in a year’s time against its industry’s decline of 22.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Another company in the same space, Visa Inc. (V - Free Report) , have also partnered fintechs in the past and provided a suite of enhanced capabilities. Visa is poised well for growth owing to BNPL, crypto and other fintechs.
Some better-ranked stocks in the same space are WEX Inc. (WEX - Free Report) and Houlihan Lokey, Inc. (HLI - Free Report) .
WEX came up with a trailing four-quarter earnings surprise of 9.9%, on average, while HLI delivered a preceding four-quarter average earnings surprise of 28.1%.
While shares of WEX have shed 21% in a year's time, the same for HLI have gained 67.3%.