Mastercard, Faysal Bank Expand Islamic Finance Solutions in Pakistan

Mastercard Incorporated MA recently renewed and expanded its strategic partnership with Pakistan’s Faysal Bank, a prominent issuer of Islamic credit cards in the country, in a bid to transform the Islamic banking sector. The tie-up involves the renewal of Faysal Bank’s rapidly growing Noor credit card portfolio, along with the launch of the first Islamic corporate credit cards and SME debit card in Pakistan. All this will be made possible through combining Mastercard’s cutting-edge technology with Faysal Bank’s focus on customer-centric solutions. The ulterior motive of the partners behind the latest initiative remains to provide Faysal Bank customers with increased flexibility, access to exclusive services, seamless experiences and personalized benefits designed to suit their lifestyles. The top-tier benefits will offer enhanced value across diverse categories such as dining, travel, lifestyle and shopping. Concurrently, the customers will continue to benefit from a secure and effortless payment experience. Therefore, the partners remain steadfast in developing innovative Islamic finance solutions and subsequently, empower individuals, SMEs and businesses.Benefits of the Recent Move to Mastercard and Faysal BankMoves similar to the latest one are expected to attract new customers to use the renewed as well as new cards by enriching them with lucrative features and benefits. Increased usage of the cards, which carries the Mastercard brand as well, is expected to boost the net revenues that the company derives from its payment network by charging fees to customers based on the gross dollar volume of the cards.  Payment network net revenues improved 8% year over year in the first nine months of 2024.Concurrently, the tie-up aims to enhance Faysal Bank’s card portfolio with innovative offerings.MA’s Share Price Performance & Zacks RankShares of Mastercard have gained 25.8% in the past year compared with the industry’s 27.5% growth. MA currently carries a Zacks Rank #3 (Hold).Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks in the Business Services space are Parsons Corporation PSN, RB Global, Inc. RBA and SPS Commerce, Inc. SPSC. While Parsons sports a Zacks Rank #1 (Strong Buy), RB Global and SPS Commerce 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 Parsons outpaced estimates in each of the last four quarters, the average surprise being 17.49%. The Zacks Consensus Estimate for PSN’s 2024 earnings indicates an improvement of 40.7% from the 2023 figure. The consensus mark for revenues implies growth of 24.2% from the 2023 figure. The consensus mark for PSN’s earnings has moved 6.9% north in the past 60 days. RB Global’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 16.31%. The Zacks Consensus Estimate for RBA’s 2024 earnings indicates an improvement of 11% from the 2023 figure. The consensus mark for revenues implies growth of 13.8% from the 2023 figure. The consensus mark for RBA’s earnings has moved 2.8% north in the past 60 days.The bottom line of SPS Commerce outpaced estimates in each of the last four quarters, the average surprise being 10.65%. The Zacks Consensus Estimate for SPSC’s 2024 earnings indicates an improvement of 21.1% from the 2023 figure. The estimate for revenues implies growth of 18.5% from the 2023 number. The consensus mark for SPSC’s earnings has moved 2.1% north in the past 60 days.Shares of Parsons, RB Global and SPS Commerce have gained 53%, 52.6% and 6.5%, respectively, in the past year.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>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 Mastercard Incorporated (MA): Free Stock Analysis Report RB Global, Inc. (RBA): Free Stock Analysis Report SPS Commerce, Inc. (SPSC): Free Stock Analysis Report Parsons Corporation (PSN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks