Usio Reports Record Second Quarter Electronic Payments Transaction and Processing Volume
July 26 2021 - 9:00AM
Usio, Inc. (Nasdaq: USIO), an integrated electronic payment
solutions provider, today reported record transactions and
processing volume for the second quarter of 2021.
Louis Hoch, President and Chief Executive Officer of Usio, said,
“This is our third consecutive quarter of record electronic
payments and dollar transaction processing volume. ACH electronic
check dollars processed almost quadrupled this quarter, while
electronic check transactions, return check transactions and card
transactions processed all doubled, at least. These results
illustrate that we are on a rapid growth trajectory. Our success is
built on our strategy to invest in our high growth PayFac platform,
target fast growing markets such as cryptocurrency and FinTech
lending while maintaining our diversity strategy, and leverage the
relationships we’ve developed with over 100 governmental and
charitable organizations through our Prepaid card division. The
Usio franchise has never been stronger, and we are committed to
extending our leadership by continuing to innovate and deliver
value to the markets we serve. The company will report record
financial metrics for the second quarter of 2021.”
Second
Quarter 2021 Processing Results |
|
Card Processing, Including
PayFac |
|
|
|
|
|
|
|
|
|
|
vQ2 20 |
|
|
|
|
|
Credit Card Dollars Processed |
|
+ 55% |
|
Credit Card Transactions Processed |
|
+ 100% |
|
|
|
|
|
Prepaid |
|
|
|
|
|
|
vQ2 20 |
|
|
|
|
|
Prepaid Card Load Volume |
|
+ 65% |
|
Prepaid Card Transaction Volume |
|
+ 63% |
|
|
|
|
|
ACH |
|
|
|
|
|
|
vQ2 20 |
|
|
|
|
|
Electronic Check Transaction Volume |
|
+ 155% |
|
Returned Check Transactions Processed |
|
+ 133% |
|
Electronic Check Dollars Processed |
|
+ 397% |
|
|
|
|
|
More ACH transactions were processed in the second quarter of
2021 than any previous quarter in the company’s history. Total
Dollars processed in the second quarter of 2021 were $2.73 billion,
topping the previous all-time record of $1.87 billion that was set
in first quarter of 2021. Finally, Card Processing, including
PayFac, set another all-time record for both transactions and
dollars processed.
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated payment
solutions provider, offers a wide range of payment solutions to
merchants, billers, banks, service bureaus, crypto exchanges and
card issuers. The Company operates credit, debit/prepaid, and ACH
payment processing platforms to deliver convenient, world-class
payment solutions and services to its clients. The strength of the
Company is its ability to provide tailored solutions for card
issuance, payment acceptance, and bill payments as well as its
unique technology in the prepaid sector and its ability to provide
and execute on its service commitments. 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.payfacinabox.com, www.akimbocard.com and www.usiooutput.com.
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, 2020. 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.com484-686-6600
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