Usio Announces Record Full Year 2019 Transaction Processing Volume
February 04 2020 - 9:00AM
Usio, Inc. (Nasdaq: USIO), an integrated electronic payment
solutions provider, today announced transaction processing results
for the fourth quarter and year ended December 31, 2019.
Record Full Year 2019 Processing VolumeTotal
dollars processed for 2019 exceeded $3.54 billion, the highest
annual volume in the history of the company, reflecting an increase
of 5% as compared to 2018.
Fourth Quarter 2019 Total Card Processing Volume Growth
Led by Strong Results in the Payment Facilitation Business
Credit card processing volume growth in the fourth quarter was more
than double the growth of any other fiscal 2019 quarter, with
dollars processed during the fourth quarter of 2019 up 17% over the
same time period in 2018. More importantly, the increase in
card dollars processed is almost entirely attributed to the
incremental volume processed through the company’s Payment
Facilitation platform, which was up sequentially over the third
quarter and at a factor of more than three times the sequential
quarter-over-quarter growth rate of any other quarter in 2019.
Credit card transactions processed during the fourth quarter of
2019 were up 27% over the same time period in 2018, again primarily
attributable to execution against the PayFac strategy. Total
dollars processed for the fourth quarter of 2019 exceeded $900
million.
Louis Hoch, President and CEO of Usio, said, “I am pleased to
report another year of record total transaction processing
volume. In the fourth quarter, we saw an inflection in the
growth of our Card Processing business, where year-over-year volume
was up 17% and transactions processed were up 27%, with both growth
metrics more than double the best growth rates over the first three
quarters of the year. The growth in the card business was led
by the performance of our PayFac platform, where the strong
sequential growth experienced over the course of the year continued
into the fourth quarter. We also grew processing volume in
our ACH and Prepaid business in 2019 as our ability to offer the
market a comprehensive solution to all of their electronic payment
processing needs continues to gain traction. We are
encouraged by another quarter of increasing processing volumes and
the acceleration in the performance of the growth initiatives the
company has been electively, and very intentionally, investing in
and commercializing over the last few years. This is the foundation
of what we believe will be another year of exciting developments
for Usio.” Detailed Full Year 2019 Processing Volume
PerformanceCredit card dollars processed for 2019
increased 12% compared to 2018, while credit card transactions
processed increased 10%. Both credit card dollars and
transactions processed during the period were the highest in the
history of the company, due in large part to the accelerated
momentum the company is seeing in its Payment Facilitation
business.
ACH transaction processing volumes for 2019 increased 8%
compared to 2018. Returned check transactions processed during 2019
decreased 2% compared to 2018. Prepaid card load volume increased
74% and transaction volume increased 91% in 2019.
Detailed Fourth Quarter Processing Volume
PerformanceCredit card processing volume growth in the
fourth quarter was up 17% over the same time period in 2018 while
credit card transactions processed during the fourth quarter of
2019 were up 27%. Credit card volume gains in the fourth
quarter, again, were largely attributable to growth in the PayFac
platform.
Electronic check transaction volumes during the fourth quarter
of 2019 were down 2% while returned check transactions were down 3%
over the same time period in 2018. Prepaid card load volume in the
fourth quarter was up 39% and transaction processing volume was up
69% compared to the fourth quarter of 2018. About Usio,
Inc.
Usio, Inc. (Nasdaq: USIO), 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
services 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. Usio is headquartered in San Antonio, Texas,
and has offices in Austin, Texas, and Franklin, Tennessee, just
outside of Nashville.
Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com,
and www.ficentive.com. Find us on Facebook® and Twitter.
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 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, the volatility of the stock price, the need to obtain
additional financing, risks associated with new tax legislation,
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, 2018. 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. The Company 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 us or any other
person that the objectives and plans will be achieved. All
forward-looking statements made in this release are based on
information presently available to management. The Company assumes
no obligation to update any forward-looking statements, except as
required by law.
Contact:Joe Hassett Gregory
FCAjoeh@gregoryfca.com 484-686-6600
Usio (NASDAQ:USIO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Usio (NASDAQ:USIO)
Historical Stock Chart
From Sep 2023 to Sep 2024