Investments

Even Keel For Payments Stocks

A shortened week in the United States due to the Martin Luther King holiday brings trading back today (Jan. 17), and as the earnings season begins to pick up, last week showed a bit more even keel than previous sessions. The names were fairly evenly divided in low- to mid-single-digit percentage bands, as measured by gains and losses.

Planet Payment’s shares were up 4.8 percent on the week, though shares made their gains without any attendant news.  Ingenico Group shares also rose, by about a bit more than two percent, after the firm said that it is linking with Interswitch to provide omnichannel payment solutions, with a focus on Nigeria.

Trailing just behind those two was WEX, which said that it was expanding its fuel payment offerings in Canada. More company-specific news tied to the firm came Tuesday as WEX said that it has launched a strategic partnership with OnDeck to help finance the former’s small business customers, with loan offerings of up to $500,000.

Turning to declining issues, Verifone led the pack, as the firm said that it has teamed with FIS and Modo to offer loyalty points payments. Mitek slipped by 3 percent, with no incremental news coming in the week.

As of this writing, the Dow and the S&P are trading down about 20 basis points.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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