Total dollars processed in Q2 2021, a record $ 2.73 billion, up 47% sequentially from the previous record in Q1
SAN ANTONIO, July 26, 2021 (GLOBE NEWSWIRE) – Usio, Inc. (Nasdaq: USIO), an integrated provider of electronic payment solutions, today announced record transaction and processing volume for the second quarter of 2021.
Louis Hoch, President and CEO of Usio, said: âThis is our third consecutive quarter of record volume of electronic payments and dollar transaction processing. ACH e-check dollars processed nearly quadrupled this quarter, while e-check transactions, returned check transactions, and processed card transactions all doubled, at least. These results show that we are on a trajectory of rapid growth. Our success is built on our strategy of investing in our high growth PayFac platform, targeting fast growing markets such as cryptocurrency and FinTech lending while maintaining our diversity strategy, and leveraging relationships that we have developed with more than 100 governmental and charitable organizations through our prepaid service. card division. The Usio franchise has never been stronger, and we are committed to expanding our leadership by continuing to innovate and deliver value to the markets we serve. The company will release record financial statistics for the second quarter of 2021. â
|Second Quarter Treatment Results 2021|
|Card processing, including PayFac|
|Credit card dollars processed||+ 55%|
|Credit card transactions processed||+ 100%|
|Prepaid card loading volume||+ 65%|
|Prepaid card transaction volume||+ 63%|
|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 in any previous quarter in the company’s history ‘. Total dollars processed in the second quarter of 2021 was $ 2.73 billion, surpassing the previous all-time high of $ 1.87 billion set in the first quarter of 2021. Finally, card processing, including PayFac , set another all-time record for transactions and dollars processed.
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading provider of FinTech integrated payment solutions, offers a wide range of payment solutions to merchants, billers, banks, service desks, crypto exchanges and card issuers. The Company operates credit, debit / prepaid and ACH payment processing platforms to provide convenient, world-class payment solutions and services to its customers. The strength of the Company lies in its ability to provide tailor-made solutions for card issuance, payment acceptance and bill payments, as well as its unique technology in the prepaid industry and its ability to deliver and execute 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.
DISCLAIMER ON FORWARD-LOOKING STATEMENTS
With the exception of historical information contained in this document, the matters discussed in this press release include forward-looking statements which are covered by safety regulations. These statements include, without limitation, all statements regarding the intentions, beliefs and expectations of management, such as statements regarding our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe”, “intend”, “intend”, “anticipate”, “should”, & CloseCurlyDoubleQuote; and âexpectâ 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 effects on the economy, risks related to the realization of the expected opportunities of the acquisition of IMS, the management of the growth of the Company, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third party card processing providers and traders, the security of our software, hardware and information, the volatility of the share price, the need to obtain additional financing, the risks associated with new tax laws and compliance with federal, state and local laws and regulations complex, and other risks detailed from time to time in documents filed by the Company with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2020. One or more of these factors has affected, and may in the future, affect the business and financial results of the company and of CloseCurlyQuote ; 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 press release will prove to be correct. In light of the material uncertainties inherent in the forward-looking statements included in this document, the inclusion of this information should not be taken as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements contained in this press release are based on information currently available to management. The Company assumes no obligation to update forward-looking statements, except as required by law.
Joe Hassett, Investor Relations