A judge awarded Cardsoft Technologies damages and royalties worth $15.4 million last week, resolving a legal dispute that company had with VeriFone Systems Inc. Investors reacted to the news by selling VeriFone shares; the company ended the week down nearly 13 percent over five days of trading, to a per share price of just over $30 — near a new 52-week low.
On the gaining side, NetSpend Holdings saw its stock price increase — no doubt largely the result of the company’s announced share repurchase program, whereby the firm will spend $75 million to take some of its stock out of the market. NetSpend shares appreciated by 13 percent over the week, to more than $8 a share at Friday’s close.
Moneygram International also enjoyed a strong week, with shares up nearly six percent at week’s close. On Tuesday the firm announced it had expanded its relationship with Speedway LLC.
About the Bank Payment Indices
| |
Acquirer/
Processor |
Network |
POS Equipment/
Software |
Bank Payment |
Remittance |
Prepaid Issuer |
All Payments |
| Closing |
121.04 |
160.52 |
108.20 |
98.53 |
86.56 |
48.77 |
119.65 |
| Weekly Gain (#) |
1.86 |
2.25 |
-4.19 |
1.09 |
1.05 |
1.90 |
1.35 |
| Weekly Gain (%) |
1.56% |
1.42% |
-3.73% |
1.12% |
1.23% |
4.06% |
1.14% |
