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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.

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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).

Zacks Investment Research
Zacks Investment Research


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Stocks to Consider

Some better-ranked stocks in the Business Services space are SPX Technologies, Inc. SPXC, CRA International, Inc. CRAI and Barrett Business Services, Inc. BBSI. While SPX Technologies and Charles River sport a Zacks Rank #1 (Strong Buy), Barrett Business Services carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The bottom line of SPX Technologies outpaced estimates in three of the last four quarters and matched the mark once, the average beat being 13.9%. The Zacks Consensus Estimate for SPXC’s 2024 earnings suggests an improvement of 24.4% from the 2023 reported figure. The consensus mark for revenues suggests growth of 14.7% from the 2023 figure. The consensus mark for SPXC’s 2024 earnings has moved 6.1% north in the past 30 days.

Charles River’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 19.1%. The Zacks Consensus Estimate for CRAI’s 2024 earnings suggests an improvement of 11.7% from the 2023 reported figure. The consensus mark for revenues suggests growth of 6.2% from the 2023 figure. The consensus mark for CRAI’s 2024 earnings has moved 3.7% north in the past 30 days.

The bottom line of Barrett Business Services outpaced estimates in each of the last four quarters, the average beat being 38.6%. The Zacks Consensus Estimate for BBSI’s 2024 earnings suggests an improvement of 7.6% from the 2023 reported figure. The same for revenues suggests growth of 7% from the 2023 number. The consensus mark for BBSI’s 2024 earnings has moved 2.2% north in the past 30 days.

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Mastercard Incorporated (MA) : Free Stock Analysis Report

Charles River Associates (CRAI) : Free Stock Analysis Report

Barrett Business Services, Inc. (BBSI) : Free Stock Analysis Report

SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report

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Zacks Investment Research