Detroit Bear
Deep value, special situations, long-term horizon, value

Will A New CEO Drive Success At Planet Payment?

Over the last several years, the payments space has exploded in investment, popularity, and even returns. The likes of Visa (NYSE:V), MasterCard (NYSE:MA), eBay's PayPal (NASDAQ:EBAY), American Express (NYSE:AXP), and Discover (NYSE:DFS) have seen their fortunes improve as consumers move towards electronic payments due to convenience and payment safety. We know how wonderful these businesses can be-Visa and MasterCard take on no credit risk, and simply collect a toll when consumers swipe their cards.

There are several portions of the payment industry, including networks like Visa and MasterCard, issuers like JP Morgan (NYSE:JPM) and Capital One (NYSE:COF), and then those that deal directly with businesses that...

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