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), EagleLion to Boost Digital Payments in Ethiopia
Read MoreHide Full Article
Mastercard Incorporated (MA - Free Report) joined forces with a prominent financial solution provider in Ethiopia, EagleLion System Technology, in a bid to provide enhanced access to innovative digital payment solutions for local businesses and consumers of the country. The tie-up will also pave the way for efficient cashless transactions related to public services payments and collection of taxes, in line with the modernization goals of the country’s government.
The collaboration involves the integration of the digital financial solutions expertise of EagleLion with Mastercard Gateway’s advanced payment technology. This, in turn, will result in the formation of enhanced payment solutions through which local merchants and consumers can accept as well as make digital payments.
The solutions will provide some added advantages, such as safe, quicker and hassle-free digital payments for individuals and businesses. The component of security will take care of shielding consumer credentials from sophisticated forms of fraud, thereby infusing a greater peace of mind for merchants and consumers.
The recent move bears testament to Mastercard’s digital transformation efforts in Ethiopia. This time, Mastercard has selected EagleLion as its partner to complement the mutual motive of transforming the digital payments landscape of Ethiopia. This regional partner, which has strong roots throughout Ethiopia, will equip Mastercard to gain an in-depth understanding of the particular market.
Also, the latest partnership seems to be a time-opportune move since businesses in Ethiopia presently grapple with limited access to safe and efficient digital payment solutions and have to depend primarily on cash transactions.
Initiatives similar to the latest one are likely to strengthen Mastercard’s footprint across Ethiopia. This endeavor forms part of the tech giant’s broader motive to occupy a significant share of the digital payments market in Africa. The continent continues to witness a flourishing digital economy, attributable to increased Internet usage, a rapidly growing young population and higher usage of smartphones. Therefore, MA resorts to tie-ups with regional financial institutions and government departments of various African countries.
In May 2024, Mastercard and the Cooperative Bank of Oromia introduced the Coopbank Prepaid Mastercard as well as launched Community Pass technology across Ethiopia, to enable the country’s smallholder farmers to be part of the digital economy. As another means to digitally benefit the African farmers, MA recently collaborated with the African Development Bank Group to launch an initiative, under which a pilot program is expected to be launched this year for providing digital identities to 3 million farmers in Kenya, Tanzania and Nigeria.
Shares of Mastercard have gained 20.6% in the past year compared with the industry’s 18.8% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of RB Global outpaced estimates in each of the last four quarters, the average surprise being 23.18%. The Zacks Consensus Estimate for RBA’s 2024 earnings suggests an improvement of 10.7% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 16.8% from the year-ago reported number. The consensus mark for RBA’s 2024 earnings has moved 4.1% north in the past 30 days.
Clean Harbors’ earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 0.65%. The Zacks Consensus Estimate for CLH’s 2024 earnings suggests an improvement of 6.9% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 8.7% from the prior-year reading. The consensus mark for CLH’s 2024 earnings has moved 0.9% north in the past 30 days.
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 28.39%. The Zacks Consensus Estimate for HURN’s 2024 earnings suggests an improvement of 18.5% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 10.2% from the prior-year reading. The consensus mark for HURN’s 2024 earnings has moved 3.2% north in the past 30 days.
Shares of RB Global, Clean Harbors and Huron Consulting have gained 42.7%, 50.2%, and 6.7%, respectively, in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Mastercard (MA), EagleLion to Boost Digital Payments in Ethiopia
Mastercard Incorporated (MA - Free Report) joined forces with a prominent financial solution provider in Ethiopia, EagleLion System Technology, in a bid to provide enhanced access to innovative digital payment solutions for local businesses and consumers of the country. The tie-up will also pave the way for efficient cashless transactions related to public services payments and collection of taxes, in line with the modernization goals of the country’s government.
The collaboration involves the integration of the digital financial solutions expertise of EagleLion with Mastercard Gateway’s advanced payment technology. This, in turn, will result in the formation of enhanced payment solutions through which local merchants and consumers can accept as well as make digital payments.
The solutions will provide some added advantages, such as safe, quicker and hassle-free digital payments for individuals and businesses. The component of security will take care of shielding consumer credentials from sophisticated forms of fraud, thereby infusing a greater peace of mind for merchants and consumers.
The recent move bears testament to Mastercard’s digital transformation efforts in Ethiopia. This time, Mastercard has selected EagleLion as its partner to complement the mutual motive of transforming the digital payments landscape of Ethiopia. This regional partner, which has strong roots throughout Ethiopia, will equip Mastercard to gain an in-depth understanding of the particular market.
Also, the latest partnership seems to be a time-opportune move since businesses in Ethiopia presently grapple with limited access to safe and efficient digital payment solutions and have to depend primarily on cash transactions.
Initiatives similar to the latest one are likely to strengthen Mastercard’s footprint across Ethiopia. This endeavor forms part of the tech giant’s broader motive to occupy a significant share of the digital payments market in Africa. The continent continues to witness a flourishing digital economy, attributable to increased Internet usage, a rapidly growing young population and higher usage of smartphones. Therefore, MA resorts to tie-ups with regional financial institutions and government departments of various African countries.
In May 2024, Mastercard and the Cooperative Bank of Oromia introduced the Coopbank Prepaid Mastercard as well as launched Community Pass technology across Ethiopia, to enable the country’s smallholder farmers to be part of the digital economy. As another means to digitally benefit the African farmers, MA recently collaborated with the African Development Bank Group to launch an initiative, under which a pilot program is expected to be launched this year for providing digital identities to 3 million farmers in Kenya, Tanzania and Nigeria.
Shares of Mastercard have gained 20.6% in the past year compared with the industry’s 18.8% 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 RB Global, Inc. (RBA - Free Report) , Clean Harbors, Inc. (CLH - Free Report) and Huron Consulting Group Inc. (HURN - Free Report) . RB Global sports a Zacks Rank #1 (Strong Buy), and Clean Harbors and Huron Consulting carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of RB Global outpaced estimates in each of the last four quarters, the average surprise being 23.18%. The Zacks Consensus Estimate for RBA’s 2024 earnings suggests an improvement of 10.7% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 16.8% from the year-ago reported number. The consensus mark for RBA’s 2024 earnings has moved 4.1% north in the past 30 days.
Clean Harbors’ earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 0.65%. The Zacks Consensus Estimate for CLH’s 2024 earnings suggests an improvement of 6.9% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 8.7% from the prior-year reading. The consensus mark for CLH’s 2024 earnings has moved 0.9% north in the past 30 days.
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 28.39%. The Zacks Consensus Estimate for HURN’s 2024 earnings suggests an improvement of 18.5% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 10.2% from the prior-year reading. The consensus mark for HURN’s 2024 earnings has moved 3.2% north in the past 30 days.
Shares of RB Global, Clean Harbors and Huron Consulting have gained 42.7%, 50.2%, and 6.7%, respectively, in the past year.