After closing at a price below $32 on Tuesday, shares of VeriFone’s stock shot up above $35 on Wednesday with news that the company had landed an exclusive payment processing contract with the taxicabs of Washington, D.C.
Between Monday’s open and Friday’s close, the company added $4 in value to its stock price, a gain of more than 12 percent. In terms of market capitalization, VeriFone grew by roughly $430 million in one week.
Meanwhile, news of a pending settlement between Visa, MasterCard, and their issuing partners, and millions of U.S. merchants over interchange fees appears to have had a small adverse affect on all network stocks. Visa, Discover, and American Express were each down roughly one percent over five days of trading, while MasterCard stock fell roughly three percent.
About the Bank Payment Indices
| |
All Payments |
Bank Payment |
Network |
Acquirer/
Processor |
POS Equipment/
Software |
Prepaid Issuer |
Remittance |
| Closing |
123.33 |
101.10 |
165.91 |
124.84 |
117.36 |
55.83 |
89.15 |
| Weekly Gain (#) |
-0.19 |
0.81 |
-2.52 |
-0.66 |
4.00 |
0.71 |
-0.67 |
| Weekly Gain (%) |
-0.15% |
0.81% |
-1.49% |
-0.52% |
3.53% |
1.29% |
-0.74% |
