Mastercard (MA), Ajman Bank Float Touch Card for Vision Impaired
Mastercard Incorporated MA recently announced that the company has joined forces with Ajman Bank of the United Arab Emirates to launch a payment card for blind and partially sighted customers. The inclusive move is in line with Mastercard’s plan to expedite the shift to digital forms of payment. Its ongoing initiatives, including digital strategy and continued widening of geographic footprint, are commendable.
To help visually impaired customers quickly determine the type of card they are holding, MA is launching Mastercard Touch Card in collaboration with Ajman Bank. It is the first of its kind and is expected to be deployed at scale. The innovative solution is expected to help customers at point-of-sale terminals and ATMs with three inbuilt distinct notches at the side.
The company has been making significant progress in its digital strategy and continuously investing in technology to capitalize on the growing demand for digital payments. Some of the company’s digital innovations are MasterPass, an investment in tokenization technology with its Mastercard Digital Enablement Service (MDES), which supports contactless payments and Digital Secure Remote Payments.
The company also has a solution named Mastercard Identity Check globally, which uses data-rich EMV 3D secure authentication standards and applies AI and behavioral biometric capabilities to verify the consumer with a single touch or click. Also, it launched Cloud Tap on Phone, which will allow merchants of any size to accept contactless payments quickly and easily through a range of devices including mobile phones. The company aims to bring one billion people under the ambit of the digital economy by 2025.
Price Movements
Shares of Mastercard have gained 3.1% in the past six months compared with the industry’s 0.2% rise.
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Zacks Rank & Other Key Picks
Mastercard currently has a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader Business Services space are Marqeta, Inc. MQ, PaySign, Inc. PAYS and International Money Express, Inc. IMXI, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Headquartered in Oakland, CA, Marqeta provides card issuing and transaction processing services. The Zacks Consensus Estimate for Marqeta’s 2022 bottom line indicates 13.3% year-over-year growth.
Based in Henderson, NV, PaySign offers prepaid card products and processing services. The Zacks Consensus Estimate for PaySign’s 2022 earnings indicates 280% year-over-year growth.
Miami, FL-based International Money Express works as a money remittance services company globally. The Zacks Consensus Estimate for IMXI’s 2022 bottom line indicates 18.4% year-over-year growth.
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