MasterCard (MA) Takes Disciplined Approach to Mobile w/ Aggressive 2013 PayPass Mobile Wallet Offering
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Price: $584.78 +2.57%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
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Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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At its recent investor day, MasterCard (NYSE: MA) elaborated on its mobile strategy, noted a recent report by Oppenheimer.
MasterCard plans to more aggressively launch its PayPass mobile wallet offering early in 2013. MA is pursuing a partnering mobile strategy, and intends to launch PayPass as a co-branded wallet with issuers, essentially taking a mobile network approach analogous to the physical card network currently in use.
“We continue to believe that the evolution of mobile payments will be a gradual process,” said Oppenheimer analyst Glenn Greene. “The networks will play a vital role developing the plumbing that makes the transition effective and seamless. Furthermore, brand, global acceptance, and sophisticated payment networks provide the networks with formidable entry barriers.”
Overall MasterCard appears to be taking a disciplined partnership approach to mobile, and believes the mobile payments market will gradually evolve.
Oppenheimer maintained their Outperform rating on MasterCard and price target of $475.
For an analyst ratings summary and ratings history on MasterCard click here. For more ratings news on MasterCard click here.
Shares of MasterCard closed at $454.18 yesterday, with a 52 week range of $293.01-$466.98.
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MasterCard plans to more aggressively launch its PayPass mobile wallet offering early in 2013. MA is pursuing a partnering mobile strategy, and intends to launch PayPass as a co-branded wallet with issuers, essentially taking a mobile network approach analogous to the physical card network currently in use.
“We continue to believe that the evolution of mobile payments will be a gradual process,” said Oppenheimer analyst Glenn Greene. “The networks will play a vital role developing the plumbing that makes the transition effective and seamless. Furthermore, brand, global acceptance, and sophisticated payment networks provide the networks with formidable entry barriers.”
Overall MasterCard appears to be taking a disciplined partnership approach to mobile, and believes the mobile payments market will gradually evolve.
Oppenheimer maintained their Outperform rating on MasterCard and price target of $475.
For an analyst ratings summary and ratings history on MasterCard click here. For more ratings news on MasterCard click here.
Shares of MasterCard closed at $454.18 yesterday, with a 52 week range of $293.01-$466.98.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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