Internet Growth Could Double Shares of Payment Provider - Barron's

Posted by John B. Frank Monday, February 9, 2009

Wirecard shares could double: Barron's

NEW YORK (Reuters) - Shares of Wirecard, a German online-payment processor, have fallen to about 4.40 euros from 11.65 euros last May, but the selloff is probably an overreaction and the shares could double in value, according to Barron's.

Wirecard is not immune from the contraction in consumer purchasing but the recession could actually accelerate growth in Internet purchasing, Barron's said.

The company has about an 8 percent share of Europe's 100 billion annual online transactions and could add another 1,000 customers this year as retailers outsource their Internet payment processing to cut costs, Borge Endresen, a portfolio manager of the AIM European Small Company Fund, told Barron's. AIM owned more than 300,000 wirecard shares as of December 31.

(Reporting by Helen Chernikoff; Editing by Bernard Orr)

0 comments

Post a Comment

Learn More About Us

Find out how our patented technology can empower your financial institution.

Our secure two-factor online banking authentication eliminates dangerous passwords and usernames and replicates the same trusted process used to access cash at ATM's. (Insert Bank Issued Card, Enter Bank Issued PIN)

There is an R.O.I. as FI's also earn recurring revenue from each transaction conducted using our PCI 2.0 Certified PIN Entry Device. Our technology also provides a unique real-time P2P "Instant-Transfer" which allows your online banking customer to transfer cash from ANY of their bankcards to ANY other bankcard...with the Swipe of a card.

Help your bank eliminate phishing and your customers avoid identity theft by providing them with the ability to stop typing and start swiping. There is no safer way to conduct financial transactions online than by 3DES DUKPT encrypting the cardholder details, which we do at the mag-head "inside the box/outside the browser."

All Top Banking