VeriFone (PAY), USA Tech (USAT) Get Investor Attention Following Global Payments (GPN) Breach
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Amid recent news Global Payments (NYSE: GPN) had about 1.5 million credit card numbers exported following unauthorized access its processing system Friday, at least one stock is higher: VeriFone (NYSE: PAY).
The incident has since been contained. Global Payments is working "with industry third parties, regulators and law enforcement to assist in the efforts to minimize potential cardholder impact."
VeriFone is pushing to create systems for cardless payments at retail stores and other locations. The company is said to partner with some big names on the effort, one of the more notable ones being Google (Nasdaq: GOOG). With consumers less likely to carry around a card in the future, more R&D funds and technology will be moving into the mobile payments sector.
Aside from Verifone, USA Technologies (Nasdaq: USAT) might also catch investor's eyes as a company which might have a stronger growth engine behind it.
On the session Monday, Verifone is up over 2 percent while USA Tech is about 9 percent better. Shares of credit providers MasterCard (NYSE: MA), Visa (NYSE: V), and Discover Financial (NYSE: DFS) are also up on the session. After falling more than 9 percent on Friday, shares of Global Payments are down nearly 4 percent Monday.
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The incident has since been contained. Global Payments is working "with industry third parties, regulators and law enforcement to assist in the efforts to minimize potential cardholder impact."
VeriFone is pushing to create systems for cardless payments at retail stores and other locations. The company is said to partner with some big names on the effort, one of the more notable ones being Google (Nasdaq: GOOG). With consumers less likely to carry around a card in the future, more R&D funds and technology will be moving into the mobile payments sector.
Aside from Verifone, USA Technologies (Nasdaq: USAT) might also catch investor's eyes as a company which might have a stronger growth engine behind it.
On the session Monday, Verifone is up over 2 percent while USA Tech is about 9 percent better. Shares of credit providers MasterCard (NYSE: MA), Visa (NYSE: V), and Discover Financial (NYSE: DFS) are also up on the session. After falling more than 9 percent on Friday, shares of Global Payments are down nearly 4 percent Monday.
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