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FinnCap Director of Research Lorne Daniel explained:
“After missing out in the Earthport auction, Mastercard has bought Transfast. We see this as augmenting not replacing HomeSend. The Transfast acquisition will augment Mastercard’s well-defined and established strategy to dominate global payments with a range of solutions. Purchasing one of the technologies underlying Mastercard Send gives greater control, adding capacity as well as reach.”
Mastercard laying the groundwork before they buy the rest of Homesend from us
Yes, it obviously is of some significance to the ESG board.
They possibly have the best insights here.
But whenever they do an RNS the shares always seem to go down, before recovering slowly in the weeks after.
feels like a traders share this alot of short term speculators gambling on the Mastercard take out making it very volatile
some can't hold longer than 2 mins before chasing another rainbow
they'll be back
https://www.pymnts.com/mastercard/2019/mastercard-investment-network-international/
Mastercard, the payments company, is taking a big stake in Network International, the payments company servicing the Middle East.
According to a report in The Financial Times, Mastercard will take part in Network International’s initial public offering (IPO) in London in April by making a $300 million investment in the listing. It will amount to Mastercard purchasing 9.99 percent of Network International’s shares, reported The Financial Times.
good for ESG?
Seems like Mastercard are trying to cover alot of bases
This is also interesting -
"Under the deal, Mastercard and Network International will also create a strategic partnership to drive adoption of digital payments in the Middle East and Africa. Network International has emerged as a leader in the Middle East in helping retailers accept cards as a payment method both in the physical world and online. The payment sector in the Middle East has been seeing brisk business in recent years as more people use digital payments to make purchases."
I guess this could benefit ESG if MC were able to direct some of the NI turnover via Mastercard Send.
Having said that there seems to have been quite some selling today, and a big 10% drop immediately prior to close!?!?
yep getting heavily sold off
some big dumping
Maybe linked to this news
Investors getting spooked and questioning Mastercards commitment to Send?
It certainly looks like someone has been spooked, although volume wasn't excessively high.
I'd be surprised if MC were jumping the HS ship bearing in mind it is supposed to be one of their three pillars, and they've supported it for around the last 5 years or so, and particularly in the last year with additional funds.
Also the NI IPO is a quite recent development, and it seems strange they would opportunistically give up Homesend in which they hold 65% for 10% of NI.
Lets see what tomorrow brings - maybe some commentary.
mmmm lets hope so
Maybe MC just covering as many bases as poss and trying to second guess where and which tech will dominate