Two Major POS Specialists Lose; Remittance, Prepaid Firms Gain
Ingenico and VeriFone Systems each saw their stock prices decrease by more than nine percent over five days of trading last week. Combined, the companies lost roughly $575 million in market capitalization over the course of the week.
VeriFone had been having an up week until Wednesday, when Starbucks announced that it would be taking its payment card processing business to Square, and including a $25 million equity investment in the partnership. After closing at $38.80 on Tuesday afternoon, the price of VeriFone’s shares ended Wednesday at $34.16, down 12 percent.
Major firms from the remittance and prepaid industries were on the winning side of things. MoneyGram and Western Union enjoyed gains of roughly three and two percent respectively, while NetSpend Holdings and Green Dot each saw their stock prices go up by roughly two percent as well.
|All Payments||Bank Payment||Network||Acquirer/
|Weekly Gain (#)||-0.67||0.00||-2.15||-0.23||-4.65||0.94||2.16|
|Weekly Gain (%)||-0.54%||0.00%||-1.27%||-0.20%||-3.79%||2.46%||2.34%|
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