Usio’s Innovative and Proprietary Card Issuing Platform Helps Accelerate Exclusive Partner MoviePass’ U.S. Expansion
January 31 2023 - 9:00AM
Business Wire
Movie Pass now live in nine cities and
continues to expand after completing latest funding round
Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated
electronic payment solutions provider, today announced their
exclusive partner, MoviePass, which leverages Usio’s innovative and
proprietary prepaid card issuing platform and unique external
authorization engine to fund transactions for the MoviePass Debit
card, has seen increasingly higher demand across the country, thus
increasing market penetration from three cities to nine cities
across the United States and inking strategic deals with over 25
exhibitor partners nationwide.
Louis Hoch, President and Chief Executive Officer of Usio, said,
“We had no idea of the power that MoviePass’s brand held until we
witnessed MoviePass signing up almost 800,000 beta clients in five
days and believe that demand will not stop there. Stacy and his
leadership team have generated so much interest from people across
the country that they’ve had to increase the number of cities in
which MoviePass will initially launch from three to nine. We’re
extremely pleased to serve them and their card holders with the
most innovative prepaid card issuing technology on the market,
specifically our external authorization capability, allowing
MoviePass to fund prepaid cards the moment a customer redeems
credits for a movie within the MoviePass ecosystem, allowing for
greater funding control and spend management.”
“Due to the increasing demand for our platform and as fans
across the country return to the movies, we’re continuing to add
new cities across the U.S. on a regular basis, including Atlanta,
Chicago, Dallas, Houston, Indianapolis, Kansas City, Oklahoma City
and Tampa Bay. When demand increases, so does the workload. That’s
why it is vitally important for MoviePass to have partners like
Usio who can afford us the best opportunity to scale, through their
technology as well as their customer service and success teams, to
deliver an incredible user experience on our platform,” commented
Stacy Spikes, Co-Founder and Chief Executive Officer of MoviePass.
“Without Usio, we wouldn’t be able to continually add new cities to
our launch list and have the competitive advantage we do in the
marketplace.”
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated
FinTech electronic 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 their
clients. The company, through its Usio Output Solutions division
offers services relating to electronic bill presentment, document
composition, document decomposition and printing and mailing
services. 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.payfacinabox.com, www.akimbocard.com
and www.usiooutput.com. Find us on Facebook® and Twitter.
About MoviePass, Inc.
MoviePass is a marketing technology platform enhancing the
exploration of film and the moviegoing experience. Started in 2011,
MoviePass quickly became the nation's premier movie-theater
subscription service, providing film enthusiasts the ability to
attend select new movies in theaters across the United States.
Website: www.moviepass.com
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 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,”
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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 an economic downturn as a result of
the COVID-19 pandemic, the realization of 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, 2021. 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
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version on businesswire.com: https://www.businesswire.com/news/home/20230131005482/en/
Paul Manley, Senior Vice President of Investor Relations Email:
paul.manley@usio.com Telephone: 612.834.1804
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