Usio Reports Record Fourth Quarter Electronic Payments Transaction and Processing Volume
February 01 2021 - 9:00AM
Usio, Inc. (Nasdaq: USIO), an integrated electronic payment
solutions provider, today reported record transactions and
processing volume for the fourth quarter of 2020 and record
transactions processed for the full year 2020.
Louis Hoch, President and Chief Executive Officer of Usio, said,
“Transaction processing volume continues on the strong growth
trajectory achieved over the past two years, with the best
quarterly performance in the Company’s history over the last three
months of 2020. In the fourth quarter, prepaid transaction volume
more than doubled while credit card transactions processed,
including PayFac, nearly doubled. This provides strong momentum as
we begin the new year which, together with our recent accretive
acquisition of IMS, should generate strong revenue growth in
the first quarter and throughout the year. While ACH volumes were
down slightly from the same quarter in 2019, transaction volume
grew 13% and returns grew 39% sequentially from the third
quarter.”
|
Fourth
Quarter 2020 Processing Results |
|
|
|
|
Card Processing, Including PayFac |
|
|
|
vQ4 19 |
|
Credit Card Dollars Processed |
+ 17% |
|
Credit Card Transactions Processed |
+ 97% |
|
|
|
|
Prepaid |
|
|
|
vQ4 19 |
|
Prepaid Card Load Volume |
+ 95% |
|
Prepaid Card Transaction Volume |
+143% |
|
|
|
|
ACH |
|
|
|
vQ4 19 |
|
Electronic Check Transaction Volume |
- 6% |
|
Returned Check Transactions Processed |
-13% |
|
|
|
|
In the fourth quarter of 2020, total dollars processed were $920
million and total transactions processed were 5.5
million. Both total dollars and transactions are the
most for any single quarter in the history of the Company.
|
|
|
Year 2020
Processing Results |
|
|
|
|
Card Processing, Including PayFac |
|
|
|
v2019 |
|
Credit Card Dollars Processed |
+ 14% |
|
Credit Card Transactions Processed |
+ 58% |
|
|
|
|
Prepaid |
|
|
|
v2019 |
|
Prepaid Card Load Volume |
+162% |
|
Prepaid Card Transaction Volume |
+ 97% |
|
|
|
|
ACH |
|
|
|
v2019 |
|
Electronic Check Transaction Volume |
- 12% |
|
Returned Check Transactions Processed |
- 29% |
|
|
|
|
For 2020, total transactions processed were up 19% to a record
18.2 million, while dollars processed were $3.34 billion.
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," "should,” 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 risks related to
the COVID-19 pandemic and its effect on the economy, risks related
to the realization of the anticipated opportunities from the IMS
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, 2019. 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, Investor
Relationsjoeh@gregoryfca.com610-228-2110
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