Mastercard Incorporated (NYSE:MA) has recently partnered with the global financial institution, ING, aiming to elevate the online payment experience for customers through Click to Pay. Presently accessible on ING’s website, this feature is slated for expansion to other European countries by the end of 2024.
Leveraging the EMV Secure Remote Commerce industry standard and Mastercard’s security capabilities, the solution offers advanced payment technology, ensuring a seamless and secure checkout experience for ING customers. Its embedded nature streamlines the checkout process with minimal disruptions and a few clicks. Through this collaboration, MA anticipates benefiting from increased transaction volume, thereby bolstering its top line in the future.
Customers stand to gain improved security while bypassing the need for manually inputting payment details. Mastercard’s Click to Pay has already made its mark in three dozen markets, with substantial growth potential ahead. Currently, 33% of online transactions involve manual card or detail entry. Click to Pay, according to Mastercard, slashes checkout time by 50%, and wider adoption among merchants is poised to drive increased transactions. With over 25% of e-commerce transactions already tokenized, MA foresees further innovation in this domain.
This initiative underscores the global expansion of Click to Pay by the tech giant, extending its reach to regions such as South Africa, the United Arab Emirates, the Kingdom of Saudi Arabia, Qatar, and Kuwait. The solution’s benefits are expected to proliferate across additional markets in the foreseeable future.
Other Players in the Business Services Realm
Several other stocks in the Business Services sector include Bread Financial Holdings, Inc. (NYSE:BFH), Envestnet, Inc. (NYSE:ENV), and Fidelity National Information Services, Inc. (NYSE:FIS).
Bread Financial has surpassed estimates in its bottom line performance for the past four quarters, boasting an average surprise of 189%. The company stands to benefit from robust consumer spending, credit sales performance, strategic investments, and a strong capital position.
Envestnet has consistently exceeded earnings estimates over the last four quarters, with an average surprise of 7.7%. Its business model ensures robust revenue generation through asset-based and subscription-based recurring revenue streams. Envestnet’s technology-enabled solutions and services are well-positioned to capitalize on significant market opportunities driven by various trends.
Fidelity National has surpassed bottom line estimates in two of the last four quarters and missed twice. The company is poised for growth through its Future Forward initiative, increasing demand for digital payment solutions, a diverse product portfolio, and modernization efforts. The burgeoning global e-commerce market presents significant growth opportunities for the company.
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