The payments industry suffered nearly universal losses on the stock market this week, as especially poor performances from the remittance and acquirer industries led to an overall loss of -1.29 percent.
Plagued by losses to both MoneyGram International and Western Union, the remittance industry saw the biggest drop on the week, falling -4.88 percent. MoneyGram dropped -5.58 percent as our fifth-worst performer on the week, hitting a share price of $17.09. Western Union saw similar results, dropping -4.79 percent to hit $14.32.
The acquirer/processor subset had an uninspiring week as well, falling -3.74 percent. Global Payments Inc. had the second-worst week of any performance of any company in our index, falling -10.51 percent after reporting modest earnings for the fiscal period ending February 28, 2013. The company’s value now sits at $44.44 per share. ACI Worldwide finished just one spot better than Global Payments, losing -8.04 percent to fall to $44.93.
Fellow acquirers TSYS, Fiserv and Heartland Payments each saw losses between -3.00 and -4.00 percent, while FIS had the “best” week of any company in the industry subset, losing just -1.44 percent.
Euronet Worldwide had the strongest week of any company on our index, finishing with a modest gain of 0.76 percent to hit $26.54. NetSpend Holdings was the only other company to finish in the black, growing 0.50 percent to hit $15.97.
Bottomline Technologies had the worst overall week on our index, dropping -11.72 percent to hit $25.17. The company has lost nearly 5 percent of its value to this point in 2013.
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