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Mastercard (MA) to Offer Varied Payment Options in EEMEA
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Mastercard Incorporated (MA - Free Report) recently launched the Digital First program across Eastern Europe, Middle East and Africa (EEMEA) to extend an array of flexible payment options to consumers for conducting seamless and secure digital payments utilizing their preferred digital devices.
The newly launched program will be supported by Mastercard’s global network comprising of Digital First partners. Along with the global partners, Mastercard’s EEMEA clients can also take advantage of its regional partners like FOO, Ukeshe, and Paymentology to ramp up the launch of digital products.
The Digital First partners consisting of technology and fintech partners combined with the Mastercard Processing platform (backed with a portfolio of solutions, partnerships and upgraded capabilities) will pave the way for immediate issuance of the digital card or physical-optional card by the issuing banks. As a result, cardholders can easily start making accelerated and convenient online, in-app or point-of-sale purchases.
Meanwhile, other notable benefits of the program include empowering consumers to manage payment credentials and receive card benefits, offers and loyalty solutions — all through digital means. The primary aim of the program is to bring about a seamless and secure experience for consumers.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to bring about expanded choice and flexibility in payment options with an aim to upgrade the digital payment landscape prevailing throughout EEMEA. The region is truly undergoing a digital evolution, which lays the ground for MA to capitalize on the digital growth prospects of the region through continuous partnerships and innovation.
Consumer inclination in the Middle East and Africa (MEA) toward adopting digital means substantiates the timeliness of Mastercard’s launch of its Digital First program in the region. One of Mastercard’s research states that while 73% of consumers in the MEA have been indulging in more online shopping since the COVID-19 outbreak, 66% of them have commenced online banking. According to another Mastercard study, nine in 10 of MEA’s consumers are willing to use at least one of the emerging digital payment methods, namely cryptocurrency, biometrics, contactless, QR code or digital wallets.
When it comes to technological advancements, Mastercard remains a pioneering presence. The company has utilized technologies and security protocols to devise solutions for seamless digital shopping and selling experiences on the part of both consumers and merchants. MA actively undertakes digital transformation efforts globally on the back of its enhanced digital capabilities, which it developed through tie-ups and significant investments. While partnerships with several organizations introduced cost-effective solutions globally, the investments reflect Mastercard’s endeavor to modernize the global digital payments landscape.
Similar to Mastercard, other companies such as Visa Inc. (V - Free Report) , Global Payments Inc. (GPN - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) have been pursuing digital transformation efforts and launching several contactless payment solutions from time to time.
Visa utilizes advanced technologies for rolling out newer payment solutions. V has been striving hard to integrate blockchain technology into the payments platform. The launch of diversified payment alternatives, including mobile payments through Visa Checkout and Visa payWave, highlights the company’s initiatives to bring about enhanced online checkout experiences for consumers.
Global Payments is a pure-play payments technology company comprising deep expertise in payments technology. GPN continues to roll out a wide array of payments technology and software solutions for customers on a worldwide basis. Global Payments has collaborated with several organizations to extend its nationwide reach in the digital payments space.
PayPal extends affordable digital payment solutions empowering customers and merchants to access and move their money anywhere, anytime and through any connected device. PYPL enables customers to trade cryptocurrencies, which can be done through its digital wallet. Being a secure gateway, PayPal provides biometric and QR-based payments to its customers.
Shares of Visa, Global Payments and PayPal have lost 0.8%, 0.2% and 54.3%, respectively, in the past six months.
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Mastercard (MA) to Offer Varied Payment Options in EEMEA
Mastercard Incorporated (MA - Free Report) recently launched the Digital First program across Eastern Europe, Middle East and Africa (EEMEA) to extend an array of flexible payment options to consumers for conducting seamless and secure digital payments utilizing their preferred digital devices.
The newly launched program will be supported by Mastercard’s global network comprising of Digital First partners. Along with the global partners, Mastercard’s EEMEA clients can also take advantage of its regional partners like FOO, Ukeshe, and Paymentology to ramp up the launch of digital products.
The Digital First partners consisting of technology and fintech partners combined with the Mastercard Processing platform (backed with a portfolio of solutions, partnerships and upgraded capabilities) will pave the way for immediate issuance of the digital card or physical-optional card by the issuing banks. As a result, cardholders can easily start making accelerated and convenient online, in-app or point-of-sale purchases.
Meanwhile, other notable benefits of the program include empowering consumers to manage payment credentials and receive card benefits, offers and loyalty solutions — all through digital means. The primary aim of the program is to bring about a seamless and secure experience for consumers.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to bring about expanded choice and flexibility in payment options with an aim to upgrade the digital payment landscape prevailing throughout EEMEA. The region is truly undergoing a digital evolution, which lays the ground for MA to capitalize on the digital growth prospects of the region through continuous partnerships and innovation.
Consumer inclination in the Middle East and Africa (MEA) toward adopting digital means substantiates the timeliness of Mastercard’s launch of its Digital First program in the region. One of Mastercard’s research states that while 73% of consumers in the MEA have been indulging in more online shopping since the COVID-19 outbreak, 66% of them have commenced online banking. According to another Mastercard study, nine in 10 of MEA’s consumers are willing to use at least one of the emerging digital payment methods, namely cryptocurrency, biometrics, contactless, QR code or digital wallets.
When it comes to technological advancements, Mastercard remains a pioneering presence. The company has utilized technologies and security protocols to devise solutions for seamless digital shopping and selling experiences on the part of both consumers and merchants. MA actively undertakes digital transformation efforts globally on the back of its enhanced digital capabilities, which it developed through tie-ups and significant investments. While partnerships with several organizations introduced cost-effective solutions globally, the investments reflect Mastercard’s endeavor to modernize the global digital payments landscape.
Shares of Mastercard have gained 2.1% in the past six months against the industry’s decline of 10%. MA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Similar to Mastercard, other companies such as Visa Inc. (V - Free Report) , Global Payments Inc. (GPN - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) have been pursuing digital transformation efforts and launching several contactless payment solutions from time to time.
Visa utilizes advanced technologies for rolling out newer payment solutions. V has been striving hard to integrate blockchain technology into the payments platform. The launch of diversified payment alternatives, including mobile payments through Visa Checkout and Visa payWave, highlights the company’s initiatives to bring about enhanced online checkout experiences for consumers.
Global Payments is a pure-play payments technology company comprising deep expertise in payments technology. GPN continues to roll out a wide array of payments technology and software solutions for customers on a worldwide basis. Global Payments has collaborated with several organizations to extend its nationwide reach in the digital payments space.
PayPal extends affordable digital payment solutions empowering customers and merchants to access and move their money anywhere, anytime and through any connected device. PYPL enables customers to trade cryptocurrencies, which can be done through its digital wallet. Being a secure gateway, PayPal provides biometric and QR-based payments to its customers.
Shares of Visa, Global Payments and PayPal have lost 0.8%, 0.2% and 54.3%, respectively, in the past six months.