Mastercard Incorporated MA recently declared the official opening of One South County, its campus style European Technology Hub situated in Dublin.
Shares of Mastercard gained 0.8% on Apr 8.
Mastercard’s primary aim behind opening this technology center in the Irish capital is to welcome the enthusiastic technologists, who may be from various parts of the globe but share the common desire of leveraging deep expertise in areas, such as Payments Security, APIs and Emerging Technologies to bring about evolution in the future of digital commerce. Such technologists will help the newly-opened hub emerge as MA’s innovation center in Europe.
This, in turn, will likely aid Mastercard in constantly rolling out cutting-edge payment technologies, reaching out to its customers more effectively and bolstering its global technology presence.
Mastercard’s investment in the European Technology Hub of Dublin reinforces the center’s important role in strengthening its global business. Back in 2008, the technology giant commenced operations in Dublin with a skeletal staff of 36 and has successfully increased its workforce to around 1,000 ever since. With the newly-announced technology hub, MA intends to incorporate a headcount target of more than 2000 people by 2025 across its operations in Dublin.
When it comes to technological advancements, Mastercard remained on the forefront and, utilized technologies and security protocols to devise solutions for seamless digital shopping and selling experiences on the part of both consumers and merchants. MA actively pursues digital transformation efforts globally on the back of its enhanced digital capabilities, which it developed through constant tie-ups and significant investments.
While partnerships with several organizations introduced cost-effective solutions globally, the investments reflect Mastercard’s endeavor to modernize the global digital payments landscape.
Shares of Mastercard have gained 2% in the past six months against the industry’s decline of 12.4%. MA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Similar to Mastercard, other companies like Visa Inc. V, Global Payments Inc. GPN and American Express Company AXP are steadily pursuing digital transformation efforts worldwide.
Visa makes use of advanced technologies for introducing payment solutions. V has been striving hard to integrate blockchain technology with the payments platform for a while. The launch of diversified payment alternatives, including mobile payments through Visa Checkout and Visa payWave, highlights V’s commitment to ensuring enhanced online checkout experiences for consumers. In March 2022, Visa acquired Tink to deliver enhanced digital financial services to clients worldwide and boost its footprint in the open banking space.
Global Payments is a pure-play payments technology company boasting deep expertise in payments technology. Backed by this, GPN continues to unveil a wide array of payments technology and software solutions for its customers all over the planet. GPN joined forces with several organizations to extend its nationwide reach in the digital payments space.
American Express adopts a slew of measures focused on technological advancements, introduction of secure digital solutions and assistance in businesses to regulate payments. Several buyouts and partnerships executed in the past aided AXP to bolster its digital capabilities and strengthen its global foothold. In March 2022, AXP extended its Buy Now, Pay Later (BNPL) solution named Plan It to Delta to boost its presence in the thriving BNPL space and integrate such solutions within the travel industry.
While the American Express stock has gained 5% in the past six months, shares of Visa and Global Payments have lost 3.1% and 10.6%, respectively.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report