Payments Industry Sees Universal Growth In Strong Stock Week
Every segment of the payments industry saw growth this week, leading to an overall gain of 3.52 percent and some impressive individual performances from POS equipment, remittances, network and prepaid companies.
USA Technologies was the biggest winner on the week, jumping 13.4 percent to reach a price of $1.98 per share. The real growth in the POS industry, however, came from the likes of VeriFone Systems and NCR Corporation, which saw gains of 8.37 percent and 4.21 percent, respectively. Thanks to additional positive performances by MICROS systems and Ingenico, the POS equipment/software industry as a whole gained 4.33 percent.
The most successful segment of the payments industry this week was the prepaid sector, which saw growth of 6.82 percent on the back of strong performances from both NetSpend Holdings Inc. and Green Dot Corp. NetSpend jumped 7.49 percent to reach $12.20 per share, while Green Dot hit $12.77 after a gain of 5.71 percent.
MoneyGram international led the charge for a nice performance by the remittance industry, jumping 5.29 percent to reach $13.93. With an additional 3.62 percent gain by Western Union, remittances as a whole saw their value increase by over 5 percent.
The four major U.S. networks all saw gains between 5 percent and 6 percent, with Discover leading the way, followed by MasterCard, American Express and then Visa. Overall, networks gained 5.60 percent.
Our worst performer of the week was TNS Inc, but the company still managed a 0.34 percent gain to jump to $20.88. Online Resources Corp and LML Payment Systems also closed the week with gains of under 1 percent, but not company in our index suffered a loss.
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