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Mastercard (MA) to Unveil Biometric Checkout Pilot in Poland
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Mastercard Incorporated (MA - Free Report) recently teamed up with the Polish e-commerce and omnichannel services provider, Empik, and the fintech company, PayEye, to introduce an in-store biometric payment pilot across Poland. Marking the first Biometric Checkout Program pilot in Europe, the pilot will enable the test of biometric payments through the usage of iris and facial recognition features at five specific Empik stores, Warsaw Westfield Mokotow, Wroclaw Bielany, Krakow Kazimierz, Poznan Posnania, and Czeladz M1.
This facility will be available to Polish customers from Jun 10. With the help of PayEye and technology partner Planet Pay, customers just need to look at a terminal in any of the five abovementioned Empik stores and benefit from a hassle-free shopping experience.
The global Biometric Checkout Program of Mastercard aims to set standards for new payment methods, thereby enabling cardholders to authenticate payments using various biometric methods like palm, face or iris scans. This innovation streamlines the in-store checkout process, eliminating the need for physical payment cards, cash or mobile devices.
The MA program aims to revolutionize in-store payments by establishing global standards for banks, merchants and technology providers to ensure security and privacy in biometric payments. Governed by Mastercard's data responsibility principles, the program ensures that consumers control how their data is shared and benefit from its use.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to expand the global reach of its Biometric Checkout Program. In 2023, the company introduced the program in the Asia Pacific region. In early June, it was unveiled in Uruguay, the program’s second pilot across Latin America. MA holds plans to introduce additional pilots in various countries of the world later this year.
This recent partnership seems to be a time-opportune one, considering the growing popularity of biometric payments across the globe. Also, Mastercard seems prudent to launch this pilot program in Poland, wherein many people have utilized or are acquainted with biometric technology. The country has been an early adopter of contactless payments with Mastercard cards and residents have always embraced new technologies. Therefore, the pilot launch in Poland provides MA with the perfect ground to establish a solid foothold in the Polish electronic payments market.
Mastercard remains steadfast in launching a diverse range of flexible payment solutions, increased utilization of which is expected to boost revenues from its value-added services and solutions suite. While digitization does provide ease and affordability, the trend to go digital can often invite cybercrimes and result in substantial losses for both merchants and consumers. Therefore, the Biometric Checkout Program seems to be a perfect fit to capitalize on the expanding contactless payments market as it takes care of the security, biometric performance, data protection and privacy requirements of financial institution merchants, as well as technology provider groups.
Shares of Mastercard have gained 22% in the past year compared with the industry’s 19% 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 indicates an improvement of 10% from the year-ago reported figure. The same for revenues implies growth of 16.8% from the year-ago reported number. The consensus mark for RBA’s earnings has moved 6.1% 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 indicates an improvement of 6.9% from the year-ago reported figure. The same for revenues implies growth of 8.7% from the prior-year reading. The consensus mark for CLH’s earnings has moved 1.6% north in the past 60 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 implies an improvement of 18.7% from the year-ago reported figure. The same for revenues indicates growth of 10.2% from the year-ago reported number. The consensus mark for HURN’s earnings has moved 3.4% north over the past 60 days.
Shares of RB Global, Clean Harbors and Huron Consulting have gained 30.8%, 37.7% and 14.4%, respectively, in the past year.
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Mastercard (MA) to Unveil Biometric Checkout Pilot in Poland
Mastercard Incorporated (MA - Free Report) recently teamed up with the Polish e-commerce and omnichannel services provider, Empik, and the fintech company, PayEye, to introduce an in-store biometric payment pilot across Poland. Marking the first Biometric Checkout Program pilot in Europe, the pilot will enable the test of biometric payments through the usage of iris and facial recognition features at five specific Empik stores, Warsaw Westfield Mokotow, Wroclaw Bielany, Krakow Kazimierz, Poznan Posnania, and Czeladz M1.
This facility will be available to Polish customers from Jun 10. With the help of PayEye and technology partner Planet Pay, customers just need to look at a terminal in any of the five abovementioned Empik stores and benefit from a hassle-free shopping experience.
The global Biometric Checkout Program of Mastercard aims to set standards for new payment methods, thereby enabling cardholders to authenticate payments using various biometric methods like palm, face or iris scans. This innovation streamlines the in-store checkout process, eliminating the need for physical payment cards, cash or mobile devices.
The MA program aims to revolutionize in-store payments by establishing global standards for banks, merchants and technology providers to ensure security and privacy in biometric payments. Governed by Mastercard's data responsibility principles, the program ensures that consumers control how their data is shared and benefit from its use.
Initiatives similar to the latest one reinforce Mastercard’s sincere efforts to expand the global reach of its Biometric Checkout Program. In 2023, the company introduced the program in the Asia Pacific region. In early June, it was unveiled in Uruguay, the program’s second pilot across Latin America. MA holds plans to introduce additional pilots in various countries of the world later this year.
This recent partnership seems to be a time-opportune one, considering the growing popularity of biometric payments across the globe. Also, Mastercard seems prudent to launch this pilot program in Poland, wherein many people have utilized or are acquainted with biometric technology. The country has been an early adopter of contactless payments with Mastercard cards and residents have always embraced new technologies. Therefore, the pilot launch in Poland provides MA with the perfect ground to establish a solid foothold in the Polish electronic payments market.
Mastercard remains steadfast in launching a diverse range of flexible payment solutions, increased utilization of which is expected to boost revenues from its value-added services and solutions suite. While digitization does provide ease and affordability, the trend to go digital can often invite cybercrimes and result in substantial losses for both merchants and consumers. Therefore, the Biometric Checkout Program seems to be a perfect fit to capitalize on the expanding contactless payments market as it takes care of the security, biometric performance, data protection and privacy requirements of financial institution merchants, as well as technology provider groups.
Shares of Mastercard have gained 22% in the past year compared with the industry’s 19% growth. MA currently carries a Zacks Rank #3 (Hold).
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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) . While RB Global sports a Zacks Rank #1 (Strong Buy), Clean Harbors and Huron Consulting carry a Zacks Rank #2 (Buy) each 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 indicates an improvement of 10% from the year-ago reported figure. The same for revenues implies growth of 16.8% from the year-ago reported number. The consensus mark for RBA’s earnings has moved 6.1% 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 indicates an improvement of 6.9% from the year-ago reported figure. The same for revenues implies growth of 8.7% from the prior-year reading. The consensus mark for CLH’s earnings has moved 1.6% north in the past 60 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 implies an improvement of 18.7% from the year-ago reported figure. The same for revenues indicates growth of 10.2% from the year-ago reported number. The consensus mark for HURN’s earnings has moved 3.4% north over the past 60 days.
Shares of RB Global, Clean Harbors and Huron Consulting have gained 30.8%, 37.7% and 14.4%, respectively, in the past year.