Mixed Week For Remittances As Payments Industry Continues To Decline
For the second straight week, the payments industry saw a small but consistent decline across nearly all of its subsections, as the value of the industry as a whole fell -0.54 percent.
The remittance industry had the “best” week, gaining 0.10 percent, but results within the industry varied greatly. Western Union was the second-largest gainer overall, jumping 2.91 percent to $12.71 a share as its stock price continues to fluctuate in the wake of a disappointing Q3 performance.
On the other end of the remittance spectrum, MoneyGram International was our second-biggest loser of the week, falling -14.93 percent as the company continues to trend downward in the face of increased competition. MoneyGram has lost a third of its value over the past year.
PYMNTS.com’s biggest winner of the week was Heartland Payments Systems, which gained 6.91 percent after suffering a big drop a week ago. Overall, the Acquirer/Processor industry suffered the smallest loss of any payments subset this week, falling just -0.35 percent.
The four major U.S. networks suffered a small setback, falling -0.86 percent this week. Visa had the best week, rising 0.08 percent to $142.71 a share, while MasterCard saw little change as well, dropping just -0.02 percent to $464.59. American Express fell -2.74 percent to $54.30, with Discover dropping -3.94 percent to $39.46.
The company with the worst overall performance was Online Resources Corporation, which lost -22.06 percent of its stock to fall to just $2.19 a share.
Please send all press releases and story ideas to Ben Carsley at firstname.lastname@example.org.