Yahoo Finance Mastercard (MA) Expands Footprint in Bahrain With stc pay
Mastercard Incorporated MA recently partnered with the only comprehensive mobile wallet in Bahrain for all forms of digital financial transactions —stc pay. This partnership is aimed at launching Bahrain’s first prepaid card. The stc pay Mastercard Elite card will enable stc pay users to use their card at millions of merchant stores associated with the Mastercard network.
This move bodes well for MA, as collaborating with stc pay will enable Mastercard to penetrate the Bahraini market more effectively. By offering its services through stc pay's platform, Mastercard can gain access to a larger customer base and increase its footprint in Bahrain's digital payment landscape. As more consumers adopt the stc pay Mastercard Elite card for their digital transactions, Mastercard benefits from higher transaction volumes. This leads to higher revenue streams for Mastercard through interchange and transaction fees.
Partnering with stc pay will allow Mastercard to leverage the innovative capabilities of a leading fintech player in Bahrain. The stc pay Mastercard Elite Card comes with an exclusive range of benefits, like unlimited cashback, family cards for convenient payments, airport lounge access, hotel booking discounts, and comprehensive travel insurance coverage. Customers can choose between the Mastercard Elite Metal card or the classic design, enhancing the flexibility of this offering. This new product is also easy to use through the all-inclusive app, stc pay, making it convenient for customers.
The move also supports Mastercard’s broader motive of infusing greater digitization across different countries around the globe. A rapidly expanding digital economy, increased Internet penetration and the higher usage of smartphones continue to prompt MA to leverage its suite of advanced payment solutions and establish a solid global digital footprint.
Shares of Mastercard have gained 18.9% in the past year compared with the industry’s 16.6% growth. MA currently carries a Zacks Rank #3 (Hold).
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Mastercard Incorporated (MA) : Free Stock Analysis Report
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