Irish shareholders of Trintech, the Dublin-based provider of electronic payment technology, have suffered over the past year as there has been no pick up in the sector.

The once high-flying stock, enabled the firm's two founders, the McGuire brothers, to join the billionaires club. But despite reversing a former stock split, and beginning a $5 million share buy-back campaign, shares remain marooned at $1.80.

With a market capitalisation of $27 million (€24.9 million) - significantly below its cash pile of $48 - Trintech's plan to purchase $5 million of its own shares should have sent its share price sharply upwards.

But a stock exchange rule that prevents the firm buying back more than a quarter of the average daily trading volume in its shares is probably limiting the buy-back's effect.

Trintech's average daily trading volume since November has been just 17,000 shares, making it difficult for the firm to buy back a significant amount of its own shares.

Trintech is due to report results later this month. Until then shareholders will probably have to sit back and wait for a more general recovery.