Payment Data Systems’ FiCentive Subsidiary Adds Two New Partnerships to Expanding Prepaid Business
October 16 2018 - 9:00AM
Accomplished Industry Veteran Kyle
Ruschman Joins FiCentive as VP of Sales and Business
Development
FiCentive, a wholly-owned subsidiary of Payment Data Systems, Inc.
(NASDAQ: PYDS), is excited to announce the addition of two new
prepaid partners, SVM and UniTeller. FiCentive also announces
the addition of Kyle Ruschman as VP of Sales and Business
Development, where he will lead the organization’s growth
initiatives. Houston Frost, SVP of Prepaid Products for Payment
Data Systems, said, “These two new partnerships clearly demonstrate
that our FiCentive prepaid card platform continues to offer the
features and versatility that prepaid card issuers see as most
relevant in today’s dynamic marketplace. In addition, Kyle
brings the experience and industry knowledge to leverage this
technology and spearhead our prepaid growth initiatives.”
“I couldn’t be more excited to join the FiCentive and Payment
Data Systems family of companies, and I look forward to building on
the strong foundation already in place,” said Kyle Ruschman. SVM, a
leading global provider of gift and prepaid card solutions for
businesses, recently announced through the strategic partnership
with FiCentive their ability to offer a virtual open-loop prepaid
card that can be used at retail locations using Apple Pay, Android
Pay, or Samsung Pay. SVM's products are used by leading
incentive, rewards, loyalty, and other companies to incent and
reward their customers, employees, and prospects.
UniTeller is a leader in international money transfer
processing services, offering remittance solutions to business
partners and individuals. UniTeller will use FiCentive to
create a full white-labeled prepaid card offering, called
uLinkcard (ulinkcard.com), for its uLink Digital Remittance
program (ulinkremit.com), where customers will be able to send
remittances using the card at preferred rates. UniTeller
supports a network of more than 110,000 paying locations
worldwide connecting their customers living in the U.S. with
their families abroad.
About FiCentive FiCentive, a subsidiary of
Payment Data Systems, Inc., quickly and securely delivers
customized prepaid card programs for corporations, financial
institutions, affinity groups and other organizations that need to
deliver a financial solution to their customers, vendors, or
employees. FiCentive has extensive knowledge and
experience gained by processing prepaid card programs for over ten
years with highly efficient, secure, cost-effective, and integrated
payment solutions. Website: http://ficentive.com/
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 Nashville,
Tennessee.
Websites: www.singularpayments.com, www.payfacinabox.com,
www.akimbocard.com, and www.ficentive.com. Find us on
Facebook®.
Forward-Looking Statements
DisclaimerExcept 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, 2017. 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:Joe Hassettjoeh@gregoryfca.com
484-686-6600
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