Mastercard Inc (NYSE:MA) MasterPass™ officially rolls out in Latin America with the launch in the Brazilian market. MasterPass™ by MasterCard is a digital payment platform that enables consumers to use any major credit, debit or prepaid card to checkout online conveniently, securely and with just one click. MasterPass saves consumers time by eliminating the need to re-enter payment and shipping details each time they make an online purchase at partner merchants.
Shopping online in Brazil is on the rise among consumers. According to e-bit Consultancy, e-commerce sales in Brazil are expected to end the year with an increase of 20% over 2014.
“The Brazilian consumer is continuously adopting new technologies that offer speed and convenience. To meet this demand, MasterCard wants to ensure that it offers the best payment experience for consumers regardless if they are making a shopping in the physical or digital world. With MasterPass every device – a phone, a tablet or a computer – can become a shopping device that is fast, convenient and secure”, said Marcelo Tangioni, VP Products of MasterCard Brazil and the Southern Cone.
Digital wallets integrated with MasterPass are already available thanks to recent launches by Caixa Econômica Federal and the Porto Seguro insurance company. Additionally, many large Brazilian e-commerce companies including, CNova group (CasasBahia.com.br, Extra.com.br, Pontofrio.com and Barateiro.com), Máquina de Vendas, The Beauty Box and Tray Shopping, have integrated MasterPass payments on their e-commerce sites.
“MasterPass is already available at a significant number of online retailers in Brazil. In fact, our merchant partners represent 30% of the e-commerce segment in the market and we expect our merchant reach to continue to grow,” Tangioni concludes. (Original Source)
Shares of Mastercard Inc opened today at $95.51 and are currently trading down at $95.41. MA has a 1-year high of $96.31 and a 1-year low of $69.64. The stock’s 50-day moving average is $93.66 and its 200-day moving average is $89.34.
On the ratings front, Mastercard has been the subject of a number of recent research reports. In a report issued on June 29, Suntrust Robinson Humphrey analyst Andrew Jeffrey reiterated a Buy rating on MA, with a price target of $120, which implies an upside of 25.6% from current levels. Separately, on June 1, Deutsche Bank’s Bryan Keane reiterated a Buy rating on the stock and has a price target of $100.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Jeffrey and Bryan Keane have a total average return of 4.6% and 14.0% respectively. Jeffrey has a success rate of 64.8% and is ranked #1240 out of 3708 analysts, while Keane has a success rate of 82.0% and is ranked #296.
The street is mostly Bullish on MA stock. Out of 7 analysts who cover the stock, 6 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $98.67, which represents a slight upside potential from current levels.