Payments Stocks See Modest Gains Despite Prepaid’s Stumble
The payments industry saw a modest gain in value of 0.93 percent last week as every industry subset aside from the prepaid segment finished in the black.
USA Technologies had the best week of any individual company in our index, jumping 20.37 percent to $2.60. TSYS posted the second-best week, growing 4.07 percent to $23.80, while Bottomline Technologies placed third with a jump of 3.76 percent to reach 27.61 per share.
Among industry subsets, the remittance industry had the strongest week, jumping 2.80 percent on the back of a 1.71 percent gain from Western Union. The company ended the week at a share price of $14.26. Fellow remittance company MoneyGram International didn’t share Western Union’s success, though, dropping 1.37 percent to $16.57.
The acquirer/processor and network industries had strong weeks as well, gaining 1.82 percent and 1.30 percent, respectively. TSYS and Fidelity National Information Services topped the first subset, while Discover finished as the top network.
Global Cash Access Holdings had the worst week on our index, dropping -4.94 percent to just $6.93. The company has lost nearly 10 percent of its value over the past three months. Net 1 UEPS Technologies and Tier Technologies rounded out our bottom three, dropping -4.18 and -4.03 percent, respectively.