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3 Stocks for the Credit Card Revolution – PAY, IFNNY, NXPI

Adopting new technology for payment systems can enrich investors

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verifone.logoWhile NXPI makes the actual chips for EMV cards, VeriFone (PAY) designs point-of-sale electronic payment devices, security and encryption software. According to Value Line Research, the company works with 70% of the top 1,000 retailers in America and 83% of the top 200.

Verifone reported better-than-expected results for its fiscal fourth quarter, although it represented a 12% decline from a year ago. Its payments as a service unit accounted for 40% of VeriFone’s total revenue in that quarter. It also partnered with American Express (AXP) to launch a new service earlier this year that allows New York City taxi passengers to pay cab fares using their mobile devices, which process more than 200,000 payments in NYC alone. Although the stock was beaten down earlier in the year, it finished 2013 up 54%.

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