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mastercard (Well – free report) recently partnered with UAE-based Payment Service Provider (“PSP”) Foloosi to launch Click to Pay, the former’s online checkout platform, to benefit the latter’s 6,000+ merchants.
The solution provides consumers with a faster and more secure checkout experience without the need to open an account with the merchant. The embedded nature of the solution ensures that the checkout process can be completed with the help of just a few buttons and minor interruptions.
Click to Pay is built on the power of tokenization to infuse security into online transactions, minimizing the chance of fraud and increasing conversions. In turn, this could increase the merchant’s revenue base.
Additionally, the trustworthiness of the solution gives merchants the confidence to include a secure payment link when sending invoices to customers digitally, such as via SMS, email or WhatsApp. Customers can then utilize these links to make hassle-free payments.
In addition to being of great use to merchants, the click-to-pay solution frees consumers from the delays associated with entering card credentials or disclosing confidential data to each merchant they choose to transact with.
The recent move reinforces Mastercard’s sincere efforts to solidify its footprint as the UAE’s leading technology provider of innovative and secure payment solutions. The partnership marks Mastercard’s efforts to work closely with PSPs, merchants, acquirers and card issuers to expand the reach of its innovative payment solutions in its markets.
The UAE’s booming digital economy may have prompted Mastercard to turn to its latest partnership with one of the country’s leading technology providers. The increasing digitization of all spheres of life has resulted in consumers preferring to shop online from the comfort of their homes, confirming the timeliness of advanced payment solutions.
A solid digital arm built on partnerships and investments is expected to help Mastercard capture a significant share of the UAE’s digital payments market.
Shares of Mastercard have risen 8.4% in a year, matching the industryAn increase of 3.8%. MA currently has a Zacks Rank #3 (Hold).
Image Credit: Zacks Investment Research
stocks to consider
some better ranked stocks business services space is SPX Technologies (SPXC – free report), Amplitude Company (AMPL – free report) and Omnicom Group (Ohmk – free report). While SPX Technologies carries a Zacks Rank #1 (Strong Buy), Amplitude and Omnicom currently carry a Zacks Rank #2 (Buy).you can see The full list of today’s Zacks #1 Rank stocks is here.
SPX Technologies has beaten profit estimates in each of the trailing four quarters, with an average surprise of 28.38%. The Zacks Consensus Estimate for SPXC’s 2023 earnings points to an increase of 26.5% compared to the year-ago reported numbers. The same revenue represented an increase of 11.7% over the figure reported in the same period last year. The consensus marker for SPXC’s 2023 earnings has moved northward by 12.3% over the past 30 days.
Amplitude has beaten earnings estimates in each of the trailing four quarters, with an average surprise of 38.54%. The Zacks Consensus Estimate for AMPL’s 2023 earnings is 3 cents per share. The previous year reported a loss of 21 cents per share. The same revenue indicated a 12.4% increase over the same period last year. Over the past 30 days, the consensus marker for AMPL’s 2023 earnings has changed from a loss of 11 cents per share to earnings of 3 cents per share.
Omnicom has beaten profit estimates in each of the trailing four quarters, with an average surprise of 9.10%. The Zacks Consensus Estimate for OMC’s 2023 earnings points to an increase of 6.5% compared to the year-ago reported figure. The same revenue indicated a 3.2% increase over the same period last year. The consensus marker for OMC’s 2023 earnings has moved northward by 0.4% over the past 30 days.
Shares of SPX Technologies and Omnicom have risen 53% and 26.5%, respectively, in a year. However, Amplitude stock is down 48.9% over the same period.
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