Thanks in large part to gains by Green Dot Corp and Netspend Holdings Inc., the prepaid industry had a strong week, seeing an overall weekly gain of 5.41 percent. This continues the recent trend of prepaid’s rebound after Green Dot’s disastrous July, as the industry saw an overall increase of 8.63 percent for the month of August.
Green Dot was this week’s biggest individual winner, seeing a rise of 6.8 percent to $11.45 per share. The modest rise is good news for the financial services company that’s seen a loss of over 60 percent of its stock value over the past year. Netspend Holdings had a strong week as well, finishing at $9.50 a share for a gain of 4.8 percent.
The acquirer/processor industry had the worst week for our index, although it experienced no disastrous results, finishing with a modest loss of 0.4 percent. ACI Worldwide Inc. and Fidelity National Information Service Inc. finished with respective losses of 2.3 percent and 1.4 percent. Total System Services Inc. saw a one percent decline to $23.22 a share, while Heartland Payment Services Inc. was essentially static.
One week after finishing as our biggest winner, Net1 UEPS now places as our biggest loser, falling to $9.52 a share after starting the week at $9.88 – a 3.2 percent decline.
Networks experienced a quiet but altogether positive week: American Express and Visa each saw gains of just over one percent, and Discover and MasterCard each essentially held serve, finishing at plus 0.3 percent and 0.1 percent, respectively.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More