Usio Reports Record First Quarter Electronic Payments Transaction and Processing Volume
April 26 2021 - 9:00AM
Usio, Inc. (Nasdaq: USIO), an integrated electronic payment
solutions provider, today reported record transactions and
processing volume for the first quarter of 2021.
Louis Hoch, President and Chief Executive
Officer of Usio, said, “First quarter electronic payments and
dollar transaction processing volume was more than double our
previous record quarter, which was set in the fourth quarter of
2020. These two consecutive quarters of record dollars processed
clearly indicates our business has inflected, and we have now been
consistently operating at a significantly higher level of activity.
There has been a doubling of key performance metrics in each of our
segments, with ACH electronic check dollars processed up 139%, and
credit card transactions processed and prepaid load volume both up
105%. The new year is off to a great start and we are capitalizing
on the strong business momentum by continuing to invest in our
growth platforms to further strengthen the Usio franchise.”
First Quarter 2021 Processing
Results
Card
Processing, Including PayFac |
|
|
|
|
vQ1 20 |
Credit Card Dollars Processed |
|
+ 30% |
Credit Card Transactions Processed |
|
+
105% |
|
|
|
Prepaid |
|
|
|
|
vQ1 20 |
Prepaid Card Load Volume |
|
+
105% |
Prepaid Card Transaction Volume |
|
+
89% |
|
|
|
ACH |
|
|
|
|
vQ1 20 |
Electronic Check Transaction Volume |
|
+
37% |
Returned Check Transactions Processed |
|
+
24% |
Electronic Check Dollars Processed |
|
+
139% |
More ACH and Card transactions were processed in
the first quarter of 2021 than any previous quarter in the
company’s history. Total Dollars processed in the first quarter of
2021 were $1.86 billion, topping the previous all-time record of
$920 million that was set in fourth quarter of 2020.
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.singularpayments.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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