Payment Data Systems Announces the Availability of Same Day ACH Debits
September 19 2017 - 9:00AM
Payment Data Systems, Inc. (NASDAQ:PYDS), an integrated electronic
payment solutions provider, today announced the launch of Same Day
ACH Debits.
"We are pleased to announce our new ACH
offering, which will facilitate a faster payment service that
extends to all U.S. bank accounts, and enables businesses and
consumers to send and receive payments and payment-related
information on the same banking day through the ACH Network,”
stated Larry Morrison, Senior Vice President of Payment Data
Systems. “This service demonstrates Payment Data Systems’ continued
commitment to enable technology that helps our customers better
manage their payments.”
Payment Data Systems’ Same Day ACH credit
payment option has been successfully operating for the last year,
and today's announcement builds upon the existing same day credit
capabilities by adding same day debits. These innovations offer a
new option to pay bills faster, and ultimately gives consumers and
businesses more flexibility in their payment processing needs, as
well as better cash management.
Same Day ACH debit payments enable a variety of
transactions such as an urgent bill payment, same day payroll,
faster payments for Internet and point-of-sale purchases, and
invoice payments. Until now, all ACH debits have been "next-day"
payments; that is, transactions are completed one day after they
are initiated.
According to NACHA, the governing body of the
ACH network, “Virtually all types of ACH payments, including both
credits and debits, are eligible for same-day processing. Only
international transactions (IATs) and high-value transactions above
$25,000 are not eligible. Eligible transactions account for
approximately 99 percent of current ACH Network volume.”
Merchants can learn more about how to transmit
same day ACH payments to Payment Data by visiting the webpage at
http://paymentdata.com/achupdates.
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. Websites:
www.singularpayments.com, www.payfacinabox.com, 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
forward-looking statements which are 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 acquisition of Singular Payments, our
future and our operating and growth strategy. These forward-looking
statements are identified by the use of words such as "believe,"
"intend," "look forward," "anticipate," "schedule", 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 such risks related to the realization of the anticipated
opportunities from the Singular acquisition, 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 security of our
software, hardware and information, and compliance with complex
federal, state and local laws and regulations, and other risks
detailed from time to time in the Company's 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 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:
Preston GrahamPreston@stonegateinc.com972-850-2001
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