Yahoo Finance Mastercard (MA) Adds Experts to Client Services Team in Egypt
Mastercard Incorporated MA recently broadened its team of experts at the Advisors Client Services Hub in Egypt. Set up in 2019, the hub was established in sync with MA’s efforts to drive digital transformation across Egypt and pursue significant investments in recruiting local workforce.
The regional center commenced operations with a skeletal staff of six very able employees and gradually absorbed more than 60 experts in three years. Plans are afoot to further bolster the headcount within a couple of years.
The team leverages real-time data, analysis, consulting and marketing solutions to extend cutting-edge financial and payment solutions that are witnessing growing popularity these days. These are related to Buy-Now-Pay-Later (BNPL), open banking, cybersecurity and data monetization. With these solutions, regional clients and those from all over Europe, the Asia-Pacific and the North American markets can boost prospects of their businesses.
The team’s efficiency can be well reflected in the Mastercard Advisors Client Services Hub’s completion of more than 200 engagements within a short span of less than two years. Such efforts of team expansion at the hub clearly underline Mastercard’s endeavor to cater to the regional and global markets from its Egyptian base and subsequently, pool in strategic investments by foreign firms into the country.
Similar moves reinforce Mastercard’s continuous efforts to strengthen its footprint as a leading technology provider by rolling out innovative payment solutions across Egypt. A solid digital suite built through several collaborations with renowned financial service providers and substantial investments is expected to position MA well in tapping teeming opportunities amid the flourishing digital payment space of Egypt.
Undoubtedly, the African nation seems to seriously woo overseas investors like the global digital payment processor Mastercard. The country continues to witness a booming digital economy, thanks to its increased Internet adoption, a rapidly-growing young population and higher usage of smartphones.
In August 2022, MA joined forces with the proliferating fintech start-up of Egypt, Telda. The deal was struck to launch the latter’s prepaid card, thus offering unbanked individuals access to digital banking services.
Shares of Mastercard have lost 8.8% in a year compared with the industry’s decline of 29.7%.
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Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Business Services space are Clean Harbors, Inc. CLH, Exponent, Inc. EXPO and Information Services Group, Inc. III. While Clean Harbors sports a Zacks Rank #1 (Strong Buy), Exponent and Information Services Group carry 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 Clean Harbors outpaced estimates in each of the last four quarters, the average being 37.51%. The Zacks Consensus Estimate for CLH’s 2022 earnings suggests an improvement of 86.3% from the year-ago reported figure. The same for revenues suggests growth of 33.4% from the year-ago reported number. The consensus mark for CLH’s 2022 earnings has moved 52.7% north in the past 60 days.
Exponent’s earnings outpaced estimates in each of the trailing four quarters, the average being 9.29%. The Zacks Consensus Estimate for EXPO’s 2022 earnings suggests an improvement of 8.2% from the year-ago reported figure. The same for revenues suggests growth of 6.4% from the year-ago reported number. The consensus mark for EXPO’s 2022 earnings has moved 1.6% north in the past 60 days.
The bottom line of Information Services Group outpaced estimates in three of the last four quarters and matched the mark once, the average being 32.50%. The Zacks Consensus Estimate for III’s 2022 earnings suggests an improvement of 2.3% from the year-ago reported figure. The same for revenues suggests growth of 3.5% from the year-ago actuals. The consensus mark for III’s 2022 earnings has moved 4.7% north in the past 60 days.
The Clean Harbors stock has gained 15.4% in a year. However, shares of Exponent and Information Services Group have lost 21.5% and 30.9%, respectively, in the same time frame.
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