Prepaid Stocks Rebound As Remittances Fall In Positive Week For Payments

What's Next In Payments®
8:38 PM EDT December 2nd, 2012

Bolstered by a strong performance from the prepaid industry and modest gains by the four major U.S. networks, the payments industry saw a 0.63 percent gain on the stock market this week, making for a two-week upward trend.

The prepaid industry grew 3.94 percent, with Green Dot jumping 6.15 percent to $12.43 a share to finish as payments second-biggest winner of the week. The company continues to see turbulent stock results after losing over half of its value in July. Fellow prepaid company NetSpend Holdings Inc. also had a strong week, gaining 4.02 percent to rise to $11.65.

USA Technologies saw the biggest gain in our index, jumping 11.94 percent to $1.78 a share. As an industry, though, POS Equipment/Software companies saw a net loss of -0.33 percent, due in part to a poor performance by VeriFone Systems.

Each of the four major U.S. networks saw small gains this week, led by MasterCard, which closed on Friday at $488.68 for a 1.80 percent increase. Visa posted similar results, jumping 1.67 percent to $149.71. Discover and American Express posted more modest gains of 0.65 percent to rise to $41.61, and 0.38 percent to finish at $55.90, respectively.

MoneyGram International was the biggest loser on the week, falling -3.92 percent to $12.01 per share. The remittance company has lost around a third of its value over the past year.

Comments
Also by This Author
What's Hot
International
TransferWise Uses P2P Network To Cut Cross-Border Money Transfer Costs
International
China’s Alibaba and Tencent Call Off Taxi-App War
News
Banks Step-Up Anti-Money Laundering Efforts
Mobile Commerce
Why Did Consumers Suddenly Sour on Mobile Banking and Shopping?
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Company Spotlight
ROAM Partners with Leapfactor to Integrate Payment Acceptance into Vertical Business Apps
Company Spotlight
M-Commerce Trends for the Remainder of 2014
B2B Payments
Cloud-Based ERP System Puts Shoe Distributor In Step With The Times
B2B Payments
Where Omnichannel And Product Fulfillment Intersect
View All Articles ››