Mastercard Incorporated MA recently introduced the Multi Token Network (“MTN”) solution in a bid to ensure safe, scalable, and interoperable transactions across the digital asset and blockchain ecosystems.
The beta version of MTN is likely to be available across the United Kingdom from the third quarter of 2023 and will play the role of a testbed for creating live pilot applications and use cases with financial institutions, fintech and central banks. Mastercard plans to expand the reach of MTN across additional markets.
The MTN Mastercard is infused with several benefits and utilizes MA’s longstanding experience to lay down a common set of standards and rules for its card network participants. The rules place emphasis on the protection of consumers and ensure compliance with regulatory requirements. Additionally, it also takes care of effectual identity management and authorizations, which are of dire need to establish reliable interactions across consumers and businesses leveraging blockchain networks.
The customized solution aims to impart flexibility and choice to utilize regulated and scalable payment tokens while using payment applications. In addition, it also provides the facility for safe transfers of tokens and assets by boosting blockchain networks and ensuring interoperability.
The recent launch bears testament to Mastercard’s efforts to increase the effectiveness of payment and commerce applications. A wider range of payment solutions is also offered for the greater convenience of consumers and businesses through moves similar to the latest one.
The MTN solution is also likely to equip Mastercard in establishing a solid presence across the digital asset industry. The ease and security infused within the solution might provide a ground for the tech giant to encourage more consumers to enter the digital asset space. The industry holds immense growth potential amid a rapidly growing digital economy, the emergence of advanced technologies and the rising Internet penetration.
Despite promising growth prospects, cybersecurity risks continue to impact the digital asset sector. Mastercard takes care of such risks with its efficient cybersecurity protection solutions and ensures seamless operation of the environment in which purchases and transfers of digital assets take place.
MA has been undertaking significant investments in an effort to integrate blockchain technology with its global payments platform. The technology paves the way for the rapid adoption of digital assets by offering the necessary tools and enhancing the user experience.
Shares of Mastercard have gained 20.5% in a year compared with the industry’s 10% growth. MA currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Business Services space are SPX Technologies, Inc. SPXC, Exponent, Inc. EXPO and Huron Consulting Group Inc. HURN. While SPX Technologies sports a Zacks Rank #1 (Strong Buy), Exponent and Huron Consulting 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 SPX Technologies outpaced estimates in each of the last four quarters, the average beat being 28.38%. The Zacks Consensus Estimate for SPXC’s 2023 earnings suggests an improvement of 28.7% from the year-ago reported figure. The same for revenues suggests growth of 17% from the year-ago reported number. The consensus mark for SPXC’s 2023 earnings has moved 1.8% north in the past 30 days.
Exponent’s earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 7.70%. The Zacks Consensus Estimate for EXPO’s 2023 earnings suggests an improvement of 7.1% from the year-ago reported figure. The same for revenues suggests growth of 10.4% from the year-ago reported number. The consensus mark for EXPO’s 2023 earnings has moved 0.5% north in the past 60 days.
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 13.49%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 20.4% from the year-ago reported figure. The same for revenues suggests growth of 11.5% from the year-ago actuals. The consensus mark for HURN’s 2023 earnings has moved 2.5% north in the past 60 days.
Shares of SPX Technologies and Huron Consulting have gained 57.9% and 27.3%, respectively, in a year. However, the Exponent stock has dipped 0.1% in the same time frame.
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Mastercard Incorporated (MA) : Free Stock Analysis Report
Huron Consulting Group Inc. (HURN) : Free Stock Analysis Report
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