How have cross-border payments stocks performed in 2023?

How have cross-border payments stocks performed in 2023?

Elevated interest rates persisting in much of the world, as well as ongoing geopolitical turmoil, mean 2023 has been a challenging year for many. But how have cross-border payments companies fared? We look at the share price performance of the main publicly traded companies in the space.

Public companies performance divided in 2023
Examples of cross-border sector stock performance in 2023

Looking at share prices for 22 cross-border payments companies between 1 January and 1 December 2023, the industry shows the full spectrum of performance this year.

Digital money transfer players have seen the strongest success, although the traditional consumer remittances players have not fared as well. B2B payments has also seen a similar split, as has payment processors, while network players Visa and Mastercard have seen a year of solid growth.

Much of the split in performance can be attributed to the tougher investment environment and increased expectations for companies. Investors aren’t necessarily looking for big gains, but they are looking for long-term plans that they feel confident in. For example, Adyen recovered a significant amount of its H2 drop after it published revised earnings projections for the next few years, despite those being lower than it had produced previously.

Notably, many of the biggest moves in share price occurred in the second half of this year, likely because investors were getting a greater sense of whether the company in question was going to deliver on their FY expectations.

Many players have had a tough 2023, but 2024 may present new opportunities. We’ll be exploring the trends creating the biggest headwinds and tailwinds in the new year.

How has cross-border payments pricing changed over the past year?

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