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Mastercard (MA) Brings Biometric Checkout Program to Uruguay
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Mastercard Incorporated (MA - Free Report) recently announced that it has expanded its global Biometric Checkout Program with a new pilot at Tienda Inglesa's Red Expres in Uruguay. The move expanded its program in the Latin American market.
The program enables customers to pay for their purchases with their palm, enhancing the checkout experience. This marks the second pilot in the Latin America region. Mastercard’s Biometric Checkout Program was launched in Brazil in 2022 and penetrated the Asia Pacific region in 2023. It is expected to launch more pilot programs around the world in the coming days, which will play a significant role in in-store transaction growth.
The innovative in-store biometric payment solution has been launched in partnership with Ingenico, Fulcrum Biometrics, Fujitsu Frontech, and Scanntech. Mastercard continues to forge partnerships to boost innovation in technology and bolster its capabilities and global presence.
The program is expected to make payments faster, shorten lines at checkout, boost efficiency, reduce risks like payment card fraud, and integrate with loyalty programs. Shoppers can register their palm biometrics in-store and link it to their cards.
Mastercard’s total transactions in Latin America grew 28.5%, 15.8% and 17.4% in 2022, 2023 and the first quarter of 2024, respectively. With more MA payment solutions expected to come in the future, the growth trajectory will likely continue its momentum.
Price Movements
Shares of Mastercard have gained 19.6% in the past year compared with the industry’s 17.5% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Global Payments’ 2024 earnings is currently pegged at $11.63 per share, indicating 11.6% year-over-year growth. It beat estimates in each of the past four quarters with an average surprise of 1.1%. The consensus mark for GPN’s revenues of $9.2 billion suggests a 6.4% increase from the year-ago level.
The Zacks Consensus Estimate for Paysafe’s current-year earnings is now pegged at $2.47 per share, indicating 6% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 18.3%. The consensus mark for PSFE’s revenues of $1.7 billion suggests a 6.5% increase from the year-ago level.
The Zacks Consensus Estimate for WEX’s 2024 earnings of $16.26 per share suggests 9.8% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 3.3%. The consensus estimate for WEX’s current year revenues is pegged at $2.7 billion, indicating a 7.6% increase from a year ago.
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Mastercard (MA) Brings Biometric Checkout Program to Uruguay
Mastercard Incorporated (MA - Free Report) recently announced that it has expanded its global Biometric Checkout Program with a new pilot at Tienda Inglesa's Red Expres in Uruguay. The move expanded its program in the Latin American market.
The program enables customers to pay for their purchases with their palm, enhancing the checkout experience. This marks the second pilot in the Latin America region. Mastercard’s Biometric Checkout Program was launched in Brazil in 2022 and penetrated the Asia Pacific region in 2023. It is expected to launch more pilot programs around the world in the coming days, which will play a significant role in in-store transaction growth.
The innovative in-store biometric payment solution has been launched in partnership with Ingenico, Fulcrum Biometrics, Fujitsu Frontech, and Scanntech. Mastercard continues to forge partnerships to boost innovation in technology and bolster its capabilities and global presence.
The program is expected to make payments faster, shorten lines at checkout, boost efficiency, reduce risks like payment card fraud, and integrate with loyalty programs. Shoppers can register their palm biometrics in-store and link it to their cards.
Mastercard’s total transactions in Latin America grew 28.5%, 15.8% and 17.4% in 2022, 2023 and the first quarter of 2024, respectively. With more MA payment solutions expected to come in the future, the growth trajectory will likely continue its momentum.
Price Movements
Shares of Mastercard have gained 19.6% in the past year compared with the industry’s 17.5% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
Investors interested in the broader Business Services space can look at some better-ranked stocks like Global Payments Inc. (GPN - Free Report) , Paysafe Limited (PSFE - Free Report) and WEX Inc. (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Global Payments’ 2024 earnings is currently pegged at $11.63 per share, indicating 11.6% year-over-year growth. It beat estimates in each of the past four quarters with an average surprise of 1.1%. The consensus mark for GPN’s revenues of $9.2 billion suggests a 6.4% increase from the year-ago level.
The Zacks Consensus Estimate for Paysafe’s current-year earnings is now pegged at $2.47 per share, indicating 6% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 18.3%. The consensus mark for PSFE’s revenues of $1.7 billion suggests a 6.5% increase from the year-ago level.
The Zacks Consensus Estimate for WEX’s 2024 earnings of $16.26 per share suggests 9.8% year-over-year growth. It beat earnings estimates thrice in the past four quarters and missed once, with an average surprise of 3.3%. The consensus estimate for WEX’s current year revenues is pegged at $2.7 billion, indicating a 7.6% increase from a year ago.