Payment Data Systems Announces Record Transaction Processing Volumes for the Third Quarter of 2018
October 23 2018 - 5:00PM
- Company to Report All-Time Record Quarterly
Revenues in the Third Quarter of 2018 for Q3 -
Payment Data Systems (NASDAQ: PYDS), an integrated electronic
payment solutions provider, today announced record transaction
processing volumes for the third quarter of 2018.
Third Quarter
2018 Processing Results |
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Q3 FY 18 v Q3 FY 17 |
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CARD
PROCESSING |
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Credit Card Dollars
Processed |
+
112% |
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Credit Card
Transactions Processed |
+
109% |
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ACH |
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Electronic check
transaction volumes |
+
28% |
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Returned check
transaction processed |
+
34% |
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|
Total dollars processed in the third quarter of 2018 was
approximately $885 million, the highest quarterly volume in the
history of the company.
“We continue to execute on our plans to grow both organically as
well as through acquisitions. Based on volumes processed, revenues
for the third quarter are expected to be an all-time record,” said
Louis Hoch, President and CEO. “I am also pleased that our ACH
business recorded its fifth quarter of sequential growth in
electronic check processing volumes. We are proactively investing
the positive cash flow generated by the ACH business into our
future growth businesses: prepaid card processing and integrated
payments. We are very well positioned to achieve record transaction
volumes for the year.” The company will announce earnings and issue
its 10Q report on or before November 14, 2018. 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 and is a NACHA certified third-party sender. Payment Data is
headquartered in San Antonio, Texas, and has offices in Nashville,
Tennessee, with customers throughout the United States. Websites:
www.ficentive.com, www.singularpayments.com, www.payfacinabox.com,
www.akimbocard.com, www.ficentive.com. Find us on Facebook®.
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," 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 our 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, 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.com484-686-6600
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