The world is undergoing technological transformation at a breathtaking pace, and sometimes a seemingly minute change can mean a tectonic shift underneath. Global payments behemoth Mastercard (NYSE:MA) is about to end one such era by doing away with manual card entry.
End of an Era
That’s right. Future generations may never know the pain of entering long lines of digits manually to conduct transactions. Mastercard plans to completely tokenize eCommerce in Europe by 2030. This vision is part of Mastercard’s aim to do away with manual card entry entirely.
The company aims to bring the convenience of contactless payments to the online checkout process. This effort involves a combination of secure tokens replacing 16-19 digit numbers on payment cards, offering Click-to-Pay at merchant sites, and using payment passkeys that will make passwords and one-time codes redundant.
Importantly, the move could substantially lower the risk of online payment fraud. According to Juniper Research, online payment fraud is expected to result in losses of over $91 billion by 2028. For Mastercard, this technological shift could mean further market penetration of its services.
What Is the MA Stock Price Forecast?
Shares of the company have gained by nearly 20% over the past year. Overall, the Street has a Strong Buy consensus rating on Mastercard, alongside an average MA price target of $525.25. This implies a further 17.7% potential upside in the stock.
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