Stock Downturn Ensnares Some Payments Companies and other Digital Transactions News briefs from 11/20/18

The ongoing selloff of technology stocks is pulling down payments-industry shares despite no major negative earnings or other recent news from payment companies. Shares of 41 of 45 payments-related companies tracked by Digital Transactions News fell Monday. Downward pressure moderated Tuesday morning but still continued. Among the worst hit Monday was merchant processor Square Inc., whose shares closed down 10.8% and were off another 1.4% late Tuesday morning. E-commerce processor Shopify Inc.’s stock fell 11.4% Monday, but its shares rose 0.3% today.
Paysafe Group said it is providing payments services and processing payments for Paytm Canada, a mobile-payments and commerce service.
Online retailer ANB Baby said it now accepts a variety of digital currencies via Shopping Cart Elite, its e-commerce platform.
Despite relative stability in value, the volume of payment transactions using Bitcoin fell from $427 million in December 2017 to $96 million in September, according to data from Chainalysis. That stability has evaporated in recent days, with the digital currency trading Tuesday in the high $4,000s after months in the mid-$6,000s.
The ATM Industry Association (ATMIA) has published a paper examining the market for independent ATM deployers in Canada. The report follows a similar study of the U.S. market.

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