Internet Growth Could Double Shares of Payment Provider - Barron's

Wirecard shares could double: Barron's

NEW YORK (Reuters) - Shares of Wirecard, a German online-payment processor, have fallen to about 4.40 euros from 11.65 euros last May, but the selloff is probably an overreaction and the shares could double in value, according to Barron's.

Wirecard is not immune from the contraction in consumer purchasing but the recession could actually accelerate growth in Internet purchasing, Barron's said.

The company has about an 8 percent share of Europe's 100 billion annual online transactions and could add another 1,000 customers this year as retailers outsource their Internet payment processing to cut costs, Borge Endresen, a portfolio manager of the AIM European Small Company Fund, told Barron's. AIM owned more than 300,000 wirecard shares as of December 31.

(Reporting by Helen Chernikoff; Editing by Bernard Orr)

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