POS Equipment, Prepaid Industries Gain Value In Strong Week For Payments
Bolstered by strong weeks by the POS equipment/software, prepaid and networks industries, the payments industry gained 2.32 percent on the stock market last week, putting an end to a two-week decline in overall value.
NCR Corporation and Ingenico were the week’s two biggest individual winners, rising 10.69 percent to $23.85 a share and 7.41 percent to $40.40 a share, respectively. Fellow industry member VeriFone grew 6.61 percent to 31.16 a share, while MICROS Systems and USA Technologies saw small gains as well. Overall, the POS Equipment/Software industry grew 6.55 percent, making it the payments subdivision with the strongest weekly performance.
The prepaid industry saw a modest rebound from a continuous downward trend, gaining 5.20 percent as an industry thanks to a 6.57 percent gain from Green Dot and a 4.58 percent jump from NetSpend Holdings Inc. Green Dot’s stock now sits at $11.71 a share, while NetSpend rings in at $11.33.
The four major U.S. networks all saw gains this week, with Discover gaining around 5 percent, American Express around 4 percent and Visa and MasterCard seeing respective 3.79 percent and 3.58 percent gains. The network industry grew 3.94 percent overall.
The only company in our index to have a down week was Net 1 UEPS Technologies, which fell -2.46 percent to just $7.94 a share. The company has lost nearly 7 percent of its value over the past six months.
Overall, however, no subset of the payments industry saw a loss in stock value last week. The bank payment industry had the worst performance, but still managed an 0.89 percent growth.