Report
Jim Sinegal
EUR 147.86 For Business Accounts Only

Wide Moats Keep Payment Networks Safe, but Competition Rages at the Outskirts of the Ecosystem

We recently took a closer look at developments in payments and at the retail point of sale, including a visit to the Money 20/20 conference in late October and talks with small merchants. We think economic moats remain the strongest at the center of the payment ecosystem, where Visa and Mastercard maintain massive networks of banks working on their behalf to add consumers and merchants. The role these undervalued companies play in setting standards is becoming more important as payment options p...
Underlying
Square Inc. Class A

Square is a commerce ecosystem that combines software with hardware to enable sellers to turn mobile devices and computing devices into payment and point-of-sale solutions. With the company's offering, a seller can accept payments via magnetic stripe, Europay, MasterCard, and Visa, or Near Field Communication; or online via Square Invoices, Square Virtual Terminal, or the seller's website or app. Also, sellers can gain access to reporting and analytics, next-day settlements, digital receipts, payment dispute and chargeback management, security, and Payment Card Industry compliance. The company's Cash App enable individuals to send and receive money electronically to and from individuals and businesses.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jim Sinegal

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