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 (MA) Offers Seamless Cash Payouts to Online Traders
Read MoreHide Full Article
Mastercard Incorporated (MA - Free Report) recently collaborated with the Canada-based fintech Nuvei (NVEI - Free Report) to bring the benefits of the Mastercard Send platform to equip Nuvei’s customer base with near real-time payout capabilities. The platform can already be availed by the fintech’s clients across Singapore and will gradually be available across Australia and Hong Kong SAR in later 2023.
With the latest move, Nuvei customers, who are trading platform operators, can benefit from hassle-free and secure payouts to the users. The Mastercard Send service is empowered to process a wide range of payouts, like business to consumer disbursements or funding transactions between 1.5 billion-plus debit, credit, and prepaid Mastercard cards.
As accelerated and safe deposits, as well as payouts, remain the major highlights of a trading platform, since they usually streamline the user experience, the collaboration with Mastercard will enable Nuvei clients to attract new traders and boost revenues.
In addition to this, online traders and investors across the Asia Pacific region can seamlessly profit from their investments in a secure manner. The support of Mastercard's best-in-class fraud protection services authenticates the security of the transactions. A trader merely needs to enter their card details and place a request to cash out investments via Mastercard Send to enjoy immediate access to the funds.
One of the most significant endeavors to provide greater speed, increased choice and higher security in payments is clearly reflected through the latest move. The Mastercard Send platform remains the preferred choice for merchants, acquirers, governments, consumers and more, and hence, is utilized to conduct digital money transfers for a diversified array of industries in more than 100 markets.
Additionally, expanding a region’s access to the usefulness of its platform is likely to boost the customer base of Mastercard across the Asia Pacific region. Increased utilization of the Send service is also likely to fetch higher revenues to the tech giant. A surge in online trading activity in the region, spurred by technological upgradation and the growing integration of trading platforms on smartphones, may have prompted MA to undertake the recent move.
The global online trading platform market is anticipated to witness growth from $9.94 billion in 2023 to $15.34 billion by 2030, per a Fortune Business Insights’ report. Considering the volatile nature of the trading market, the facility to provide instant cash out capability to online traders seems to be a time opportune move on the part of Mastercard.
Shares of Mastercard have gained 22.3% in a year compared with the industry’s 10.8% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average beat being 21.75%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 31.8% from the year-ago reported figure. The same for revenues suggests growth of 17% from the prior-year figure. The consensus mark for HURN’s 2023 earnings has moved 9.4% north in the past 30 days.
SPX Technologies’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 30.83%. The Zacks Consensus Estimate for SPXC’s 2023 earnings suggests an improvement of 37.4% from the prior-year reported figure. The same for revenues suggests growth of 18.9% from the 2022 figure. The consensus mark for SPXC’s 2023 earnings has moved 2.7% north in the past seven days.
Shares of Huron Consulting and SPX Technologies have gained 47.8% and 36.3%, respectively, in a year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Mastercard (MA) Offers Seamless Cash Payouts to Online Traders
Mastercard Incorporated (MA - Free Report) recently collaborated with the Canada-based fintech Nuvei (NVEI - Free Report) to bring the benefits of the Mastercard Send platform to equip Nuvei’s customer base with near real-time payout capabilities. The platform can already be availed by the fintech’s clients across Singapore and will gradually be available across Australia and Hong Kong SAR in later 2023.
With the latest move, Nuvei customers, who are trading platform operators, can benefit from hassle-free and secure payouts to the users. The Mastercard Send service is empowered to process a wide range of payouts, like business to consumer disbursements or funding transactions between 1.5 billion-plus debit, credit, and prepaid Mastercard cards.
As accelerated and safe deposits, as well as payouts, remain the major highlights of a trading platform, since they usually streamline the user experience, the collaboration with Mastercard will enable Nuvei clients to attract new traders and boost revenues.
In addition to this, online traders and investors across the Asia Pacific region can seamlessly profit from their investments in a secure manner. The support of Mastercard's best-in-class fraud protection services authenticates the security of the transactions. A trader merely needs to enter their card details and place a request to cash out investments via Mastercard Send to enjoy immediate access to the funds.
One of the most significant endeavors to provide greater speed, increased choice and higher security in payments is clearly reflected through the latest move. The Mastercard Send platform remains the preferred choice for merchants, acquirers, governments, consumers and more, and hence, is utilized to conduct digital money transfers for a diversified array of industries in more than 100 markets.
Additionally, expanding a region’s access to the usefulness of its platform is likely to boost the customer base of Mastercard across the Asia Pacific region. Increased utilization of the Send service is also likely to fetch higher revenues to the tech giant. A surge in online trading activity in the region, spurred by technological upgradation and the growing integration of trading platforms on smartphones, may have prompted MA to undertake the recent move.
The global online trading platform market is anticipated to witness growth from $9.94 billion in 2023 to $15.34 billion by 2030, per a Fortune Business Insights’ report. Considering the volatile nature of the trading market, the facility to provide instant cash out capability to online traders seems to be a time opportune move on the part of Mastercard.
Shares of Mastercard have gained 22.3% in a year compared with the industry’s 10.8% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Business Services space are Huron Consulting Group Inc. (HURN - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average beat being 21.75%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 31.8% from the year-ago reported figure. The same for revenues suggests growth of 17% from the prior-year figure. The consensus mark for HURN’s 2023 earnings has moved 9.4% north in the past 30 days.
SPX Technologies’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 30.83%. The Zacks Consensus Estimate for SPXC’s 2023 earnings suggests an improvement of 37.4% from the prior-year reported figure. The same for revenues suggests growth of 18.9% from the 2022 figure. The consensus mark for SPXC’s 2023 earnings has moved 2.7% north in the past seven days.
Shares of Huron Consulting and SPX Technologies have gained 47.8% and 36.3%, respectively, in a year.