Mastercard Inc. (MA) has joined forces with Rearden Commerce, provider of various business and customer solutions, to offer a brand new personalized website by deploying the latter’s Deem commerce platform. The newly launched website dubbed “MasterCard Business Network” will enable the smooth facilitation of operations by small and medium-sized businesses as well as aid them to streamline their expenses.
All cardholders can visit the website which has been designed to facilitate customers by helping them systematically plan their business operations. Also, it offers discounts on purchases and management expenses. Users can also manage their hotel bookings and travel policies from the website.
Currently, the beta version of the website is available and is expected to be upgraded in a few weeks time. The new version will have enhanced features and functions that will help Mastercard users better manage their financials.
The company plans to expand its services for customers by providing better accessibility to applications which can be downloaded on the individual’s smartphones. This will empower the users with mobility to access the Mastercard Business Network whenever required.
Other users of Deem include one of Mastercard’s closest competitors– American Express, a unit of American Express Company (AXP). JPMorgan Chase, an operating unit of JPMorgan Chase & Co. (JPM), is also among the 40 companies that have deployed the Deem platform in its systems.
Mastercard continues to diversify its product portfolio through innovations that include e-commerce, mobile payments (m-commerce), prepaid cards, smart cards and various value-added services to realign itself to capitalize on the most promising growth opportunities from both geographic and product development standpoints. It is focused on the needs of its customers and continues to add value amid a challenging economic environment through its array of products that are user-friendly and flexible.
Mastercard currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We retain our long-term Neutral recommendation on its shares.
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