Payment Data Systems Announces Transaction Processing Results for the Fourth Quarter and Year Ended December 31, 2016
February 22 2017 - 8:00AM
Payment Data Systems (NASDAQ:PYDS), an integrated electronic
payment solutions provider, today announced transaction processing
results for the fourth quarter and year ended December 31, 2016.
Fourth Quarter 2016 Processing Results
Total dollars processed for the fourth quarter of 2016 exceeded
$735.0 million. ACH (electronic check) transaction processing
volumes for the fourth quarter were flat compared to the third
quarter of 2016 and returned check processing increased 3% over the
same time period. Credit card processing volumes for the fourth
quarter of 2016 for dollars processed were down 10% and credit
cards transactions processed were down 10% compared with the third
quarter of 2016.
2016 Annual Processing Results
Total dollars processed for 2016 exceeded $2.9 billion marking
the second highest level in the history of the company, but
reflecting a decrease of 6% compared to 2015. ACH transaction
processing volumes for 2016 decreased 14% compared to 2015.
Credit card processing volumes for 2016, down 5% compared to 2015,
were also the second highest in company history. Credit card
transactions processed increased less than 1% compared to 2015.
“Following the explosive growth experienced in the two prior
years, we were pleased to achieve the second highest annual levels
of dollars processed and credit card processing volumes since our
Company’s inception,” said Louis Hoch, President and CEO. “We
have multiple revenue generating initiatives underway that we
expect will drive growth in transaction volumes and associated
revenue in the coming quarters. Our sales pipeline is as deep
as it has ever been and our newly implemented real-time debit card
service is being well received by our customers. The associated
volumes with that service is growing nicely month-over-month and it
is positioned to be a strong revenue contributor for us in
2017.”
About Payment Data Systems, Inc.
Payment Data Systems (NASDAQ:PYDS), a leading integrated payment
solutions provider, offers a wide range of payment solutions to
merchants, billers, banks, service bureaus, and card issuers. The
Company operates credit, debit/prepaid and ACH payment processing
platforms to deliver convenient, world-class payment solutions and
service to their clients. The strength of the Company lies in its
ability to provide tailored solutions for card issuance, payment
acceptance, and bill payments as well as its unique technology in
the prepaid sector. Payment Data is headquartered in San
Antonio, Texas, and has offices in New York, New York; and Long
Beach, California. For additional information please
visit www.paymentdata.com. Websites:
www.akimbocard.com and www.ficentive.com. Find us
on Facebook®.
FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the
matters discussed in this release include certain forward-looking
statements, which are intended to be covered by safe harbors. Those
statements include, but may not be limited to, all statements
regarding our management’s intent, belief and expectations, such as
statements concerning our future and our operating and growth
strategy. Investors are cautioned that all forward-looking
statements involve risks and uncertainties including, without
limitation, the factors detailed from time to time in our filings
with the Securities and Exchange Commission. One or more of these
factors have affected, and in the future could affect our
businesses and financial results in the future and could cause
actual results to differ materially from plans and projections. We
believe that the assumptions underlying the forward-looking
statements included in this release will prove to be accurate. In
light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by us or any
other person that our objectives and plans will be achieved. All
forward-looking statements made in this release are based on
information presently available to our management. We assume no
obligation to update any forward-looking statements, except as
required by law.
Investor Contact:
Allyson Pooley
Financial Profiles
PYDS@finprofiles.com
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