Mastercard Inc (NYSE:MA) and Paymentez launched plazez, a mobile app that will allow paying for any product or service in affiliated stores without having to stand in line. The launch will take place during Zona Picnic (Picnic Zone) on Saturday, July 25 and Sunday, July 26 at the Parque Nacional El Chico (El Chico National Park) in Bogota. With an estimated attendance of more than 4,000 visitors, guests will be able to download the app and enjoy the experience of this new electronic payment method. The app was developed by MasterCard Labs, the brand’s research and development center, and has already been launched successfully under the name “Qkr!” – in Chile, United States, England and Australia.
“Innovation in electronic payments is in the DNA of MasterCard, which joins forces with strategic allies to come ever closer to the dream of a world beyond cash,” stated Marcela Carrasco, president of MasterCard Colombia and Ecuador. “Part of the innovation process focuses on solving everyday life problems and this one gets to the heart of an issue that affects us all: standing in line.”
According to the recognized science publication, Science et Vie, people spend close to 500 days (almost two years) standing in line. As a result, the solution can play a significant role in the quality of life for its users. Backed by MasterCard’s technology and platform, this is the first time that a solution with the necessary technology to cover all types of commercial establishments and services is launched in Colombia under a single app, which is supported by Paymentez.
“At Paymentez, we are leaders when it comes to electronic transactions. While working alongside MasterCard, we saw the opportunity to introduce a very innovative product that not only encompasses our expertise in consumer behavior of technology but also the safety and security offered by MasterCard,” said Juan Franco, CEO of Paymentez.
In order to acquire the new app, users only need to have a credit or debit card, a touch screen smartphone or tablet, and Android or IOS operational systems with internet access or an email. During the launch of Zona Picnic, the app can be used in different food stands such as Gordo Brooklyn Bar & Restaurant, Chorilongo, Baked by Ana, La Planchoneria, I Love Choripan, Sandwiches Nicks, and at five Bavaria bars featuring beer selections. Nevertheless, after its launch in Zona Picnic, plazez will be available in various other entertainment and food stores. By the end of the year more stores are expected to partner around the country in accepting this app.
“Taking into account the large attendance of these events, a guest can spend up to an hour making lines. Through the new app, guests can save that time and enjoy the event at a new level,” assured Andrea Arbeláez, organizer of Bavaria’s Zona Picnic.
Now in its third year, Zona Picnic Club Colombia guests will find great food, good music, cultural demonstrations, authentic arts and crafts and much more. Tickets to the event can be purchased on-site at the Parque Nacional El Chico. (Original Source)
Shares of Mastercard closed yesterday at $96.88. MA has a 1-year high of $97.76 and a 1-year low of $69.64. The stock’s 50-day moving average is $94.34 and its 200-day moving average is $89.74.
On the ratings front, Mastercard has been the subject of a number of recent research reports. In a report issued on July 20, Oppenheimer analyst Glenn Greene maintained a Buy rating on MA, with a price target of $105, which represents a potential upside of 8.4% from where the stock is currently trading. Separately, on June 29, Suntrust Robinson Humphrey’s Andrew Jeffrey reiterated a Buy rating on the stock and has a price target of $120.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Glenn Greene and Andrew Jeffrey have a total average return of 23.7% and 4.5% respectively. Greene has a success rate of 90.7% and is ranked #18 out of 3713 analysts, while Jeffrey has a success rate of 64.8% and is ranked #1240.
Overall, one research analyst has assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $98.67 which is 1.8% above where the stock closed yesterday.