Payment Data Systems and Akimbo Waive Gift Card Purchase Fees for Supporters of Hurricane Harvey and Irma Victims
September 18 2017 - 9:00AM
Payment Data Systems (Nasdaq:PYDS) and Akimbo announced today that
they are waiving all purchase, printing, and production fees on
gift card orders that support victims of Hurricane Harvey and Irma.
Individuals can send gift cards directly to friends or family
members in the impacted areas online and incur no purchase fee. In
addition, businesses, non-profits, charities, and other entities
can order gift cards in bulk, and the Company will cover all costs
for the bulk card production and shipping. To learn more, visit
https://akimbocard.com/relief.
“We believe gift cards are a unique method to deliver help
directly to victims,” said Houston Frost, SVP of Prepaid Products.
“Waiving the purchase fee was an obvious way we could help ensure
that 100% of donated funds end up in the hands of those that need
it.”
Open-loop gift cards, such as MasterCard and Visa, typically
have a $4-$5 purchase price to offset printing, shipping and
payment processing costs. Payment Data Systems has agreed to cover
these expenses for all gift card orders that support relief
efforts.
“With offices in both Texas and Florida now, this was an easy
decision to help support recovery efforts,” said Louis Hoch,
President and CEO.
About Payment Data Systems, Inc.
Payment Data Systems, Inc. (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; Long Beach, California; St. Augustine, Florida and
Nashville, Tennessee. For additional information please
visit www.paymentdata.com. Websites:
www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com and www.ficentive.com.
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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 management’s intent, belief and
expectations, such as statements concerning the Company’s future
and operating and growth strategy. These forward-looking statements
are identified by the use of words such as “believe,” “proceed,”
“continue” and “expect” among others. Forward-looking statements in
this press release are subject to certain risks and uncertainties
inherent in the Company’s business that could cause actual results
to vary, including the management of the Company’s growth, the loss
of key resellers, the relationships with the Automated
Clearinghouse network, bank sponsors, third-party card processing
providers and merchants, the loss of key personnel, growing
competition in the electronic commerce market, the security of the
Company’s software, hardware and information, and compliance with
complex federal, state and local laws and regulations, and other
risks detailed from time to time in its filings with the Securities
and Exchange Commission, including its annual report on Form 10-K
for the fiscal year ended December 31, 2016. One or more of these
factors have affected, and in the future, could affect the
Company’s businesses and financial results in the future and could
cause actual results to differ materially from plans and
projections. Management believes 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 the
Company or any other person that the Company’s objectives and plans
will be achieved. All forward-looking statements made in this
release are based on information presently available to management.
Management assumes no obligation to update any forward-looking
statements, except as required by law.
Investor
Contact:
Preston GrahamPreston@stonegateinc.com972-850-2001
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