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Mastercard (MA), LuLu Group Enhance Retail Payment Innovation
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Mastercard Incorporated (MA - Free Report) recently collaborated with LuLu Group in a bid to enhance innovation and payment efficiency across multiple retail markets. The collaboration will span across six markets, such as Bahrain, Kuwait, Oman, Qatar, UAE and Saudi Arabia.
Saudia Arabia has been the recent addition to the list while the companies will continue offering a portfolio of co-branded credit cards through partners such as Abu Dhabi Commercial Bank in the UAE, Bank Muscat in Oman, CrediMax in Bahrain, Doha Bank in Qatar, Emirates NBD in the UAE and Gulf Bank in Kuwait.
The tie-up entails the integration of MA’s expertise within the operations of LuLu Group, which will result in the unveiling of some updated features and benefits. These include digital in-store transactions, increased cashless experiences, personalized rewards and substantial cashback offers on purchases at LuLu stores. LuLu will implement Mastercard’s Next Gen Point of Interaction solution, thereby enabling cardless payments at self-checkout counters.
Therefore, the recent alliance will support a wide array of initiatives, such as sustainability projects, co-branded credit card portfolios and technology advancements.
The enhanced card offerings are expected to attract new customers as well as encourage existing ones to increase their card spending to avail the benefits. Increased usage of the card, which carries the Mastercard brand as well, may boost the net revenues of the tech giant from its payment network by charging fees to customers based on the gross dollar volume of the cards. Payment network net revenues improved 7% year over year for the first quarter.
The latest tie-up further strengthens the decade-long partnership between Mastercard and LuLu Group. The two organizations have collaborated and innovated for more than a decade to address the changing needs of consumers in the region. In 2013, the companies introduced a co-branded credit card, which was later succeeded by other initiatives, that enhanced relationships with various co-brand issuer partners.
In March 2024, Mastercard teamed up with a Middle East, North Africa and Turkiye region banking group, Emirates NBD, and Marriott Bonvoy. The partnership launched two co-branded credit cards by leveraging two specific MA tiers, World Elite and World, to lure various consumer segments of the UAE.
Shares of Mastercard have gained 13.5% in the past year compared with the industry’s 9.5% growth.
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 2023 reported figure. The consensus mark for revenues implies growth of 16.8% from the 2023 figure. The consensus mark for RBA’s earnings has moved 6.1% north in the past 60 days.
Omnicom’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 3.21%. The Zacks Consensus Estimate for OMC’s 2024 earnings indicates an improvement of 5.8% from the 2023 reported figure. The consensus mark for revenues implies growth of 6.2% from the 2023 figure. The consensus mark for OMC's earnings has moved 0.4% 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 indicates an improvement of 18.7% from the 2023 reported figure. The same for revenues implies growth of 10.2% from the 2023 number. The consensus mark for HURN’s earnings has moved 1.4% north in the past 60 days.
Shares of RB Global and Huron Consulting have gained 29.4% and 15.5%, respectively, in the past year. However, the Omnicom stock has declined 5.1% in the same time frame.
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Mastercard (MA), LuLu Group Enhance Retail Payment Innovation
Mastercard Incorporated (MA - Free Report) recently collaborated with LuLu Group in a bid to enhance innovation and payment efficiency across multiple retail markets. The collaboration will span across six markets, such as Bahrain, Kuwait, Oman, Qatar, UAE and Saudi Arabia.
Saudia Arabia has been the recent addition to the list while the companies will continue offering a portfolio of co-branded credit cards through partners such as Abu Dhabi Commercial Bank in the UAE, Bank Muscat in Oman, CrediMax in Bahrain, Doha Bank in Qatar, Emirates NBD in the UAE and Gulf Bank in Kuwait.
The tie-up entails the integration of MA’s expertise within the operations of LuLu Group, which will result in the unveiling of some updated features and benefits. These include digital in-store transactions, increased cashless experiences, personalized rewards and substantial cashback offers on purchases at LuLu stores. LuLu will implement Mastercard’s Next Gen Point of Interaction solution, thereby enabling cardless payments at self-checkout counters.
Therefore, the recent alliance will support a wide array of initiatives, such as sustainability projects, co-branded credit card portfolios and technology advancements.
The enhanced card offerings are expected to attract new customers as well as encourage existing ones to increase their card spending to avail the benefits. Increased usage of the card, which carries the Mastercard brand as well, may boost the net revenues of the tech giant from its payment network by charging fees to customers based on the gross dollar volume of the cards. Payment network net revenues improved 7% year over year for the first quarter.
The latest tie-up further strengthens the decade-long partnership between Mastercard and LuLu Group. The two organizations have collaborated and innovated for more than a decade to address the changing needs of consumers in the region. In 2013, the companies introduced a co-branded credit card, which was later succeeded by other initiatives, that enhanced relationships with various co-brand issuer partners.
In March 2024, Mastercard teamed up with a Middle East, North Africa and Turkiye region banking group, Emirates NBD, and Marriott Bonvoy. The partnership launched two co-branded credit cards by leveraging two specific MA tiers, World Elite and World, to lure various consumer segments of the UAE.
Shares of Mastercard have gained 13.5% in the past year compared with the industry’s 9.5% growth.
Image Source: Zacks Investment Research
MA currently has a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked stocks in the Business Services space are RB Global, Inc. (RBA - Free Report) , Omnicom Group Inc. (OMC - Free Report) and Huron Consulting Group Inc. (HURN - Free Report) . While RB Global sports a Zacks Rank #1 (Strong Buy), Omnicom 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 indicates an improvement of 10% from the 2023 reported figure. The consensus mark for revenues implies growth of 16.8% from the 2023 figure. The consensus mark for RBA’s earnings has moved 6.1% north in the past 60 days.
Omnicom’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 3.21%. The Zacks Consensus Estimate for OMC’s 2024 earnings indicates an improvement of 5.8% from the 2023 reported figure. The consensus mark for revenues implies growth of 6.2% from the 2023 figure. The consensus mark for OMC's earnings has moved 0.4% 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 indicates an improvement of 18.7% from the 2023 reported figure. The same for revenues implies growth of 10.2% from the 2023 number. The consensus mark for HURN’s earnings has moved 1.4% north in the past 60 days.
Shares of RB Global and Huron Consulting have gained 29.4% and 15.5%, respectively, in the past year. However, the Omnicom stock has declined 5.1% in the same time frame.