With the end of 2020 rapidly approaching, it’s worth taking a look back at how key companies in cross-border payments have fared in this unprecedented year. And when it comes to share prices, some have fared better than others.
2020 has been a turbulent year for public companies across the cross-border payments industry, with the vast majority taking a significant knock following the outbreak of the virus and its subsequent classification as a pandemic in early March.
However, the market also shows how resilient the industry has been, with most companies recovering from the steep dives early in the year relatively quickly, and having for the most part returned to pre-pandemic levels by the end of the year.
Some have even managed to climb well beyond their opening value in January, with MoneyGram standing out as the clear winner, having achieved dramatic growth across the year, driven in the past few months by its digital business. Others such as Visa and Mastercard are so ingrained in global finance that their values have increased even though some of the core revenue drivers such as travel remain significantly down (but are improving).