Mastercard (MA), CrediMax to Boost Digital Payments in Bahrain
Mastercard Incorporated MA and CrediMax, a leading financial institution in Bahrain, recently renewed their strategic partnership. The renewal highlights CrediMax's dedication to strengthening its position in the Kingdom of Bahrain's financial landscape.
Mastercard's Digital First Program
Mastercard's Digital First program offers consumers a wide range of payment options, from e-commerce to contactless to QR, leveraging any digital device they prefer. This initiative empowers consumers by granting them greater control over managing their finances while ensuring enhanced security.
Moreover, the program allows consumers to enjoy card benefits and offers that deliver real value during crucial moments in their lives. By partnering with CrediMax, Mastercard aims to leverage its Digital First program to expand its influence and cater to the evolving demands of customers in Bahrain.
Partnership to Unlock Growth Avenues, Secure Payments
Through their partnership, Mastercard and CrediMax will collaborate on various initiatives, including the deployment of Mastercard's cyber intelligence solutions to ensure secure and intelligent payments. Additionally, the partnership will focus on digitizing payments for consumers and corporations, as well as launching new value-added products and services to differentiate CrediMax's card proposition.
This collaboration will benefit CrediMax by bolstering its offerings and positioning Mastercard as a trusted technology partner. It will expand access to the digital ecosystem for consumers, small businesses, financial institutions and governments.
Mastercard Banks on Alliances to Drive Growth
Over the years, Mastercard’s strategic partnerships have boosted its organic efforts and diversified its revenues. These have helped expand its addressable markets, drive new revenue streams and strengthen core product solutions.
Also, its solid market position and attractive core business, driven by new deals, renewed agreements and expansion of service offerings, should sustain long-term growth. Ongoing initiatives, including its digital strategy and continued expansion of its geographic footprint, create further optimism. MA estimates net revenues to witness low-teens growth in 2023.
Zacks Rank and Price Performance
Shares of Mastercard have gained 15.2% in a year compared with the industry’s 13.8% growth.
MA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Stocks to Consider
Some better-ranked stocks from the same space are DLocal Limited DLO, Visa V and WEX WEX, each carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for DLO’s 2023 and 2024 earnings per share indicates a year-over-year increase of 54.1% and 40.4%, respectively. The consensus estimate has moved north by 1 cent each for 2023 and 2024 in the past 30 days. Year to date, DLO shares have lost 22.8%.
Visa delivered an average four-quarter earnings surprise of 8.03%. The Zacks Consensus Estimate for V’s 2023 and 2024 earnings per share indicates a year-over-year increase of 14.5% and 12.8%, respectively. Year to date, Visa shares have gained 14.8%.
WEX delivered an average four-quarter earnings surprise of 5.36%. The Zacks Consensus Estimate for WEX’s 2023 earnings per share indicates a year-over-year increase of 3.8% on 12.7% higher revenues. Year to date, WEX shares have gained 14.3%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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