Businesses, government entities and non-profit organizations can now offer consumers complete flexibility in how they wish to receive funds, whether by virtual or physical prepaid card, ACH bank transfer, check or push payment.
SAN ANTONIO, September 12, 2022–(BUSINESS WIRE)–Usio, Inc.: (Nasdaq: USIO), a leading provider of FinTech integrated payment solutions, today announced its groundbreaking funds disbursement solution, Consumer Choice. For the first time, organizations can easily offer their customers the ability to choose how they want to be paid, whether through a virtual or physical prepaid card, direct bank transfer, paper check or even a push payment to a debit card – all without the hassle of integrating technology or assuming the risks of scams and electronic payment processing.
“Managing direct-to-consumer payments is a recognized problem for businesses, governments, and nonprofits, whether it involves refunds, rebates, incentives, escheats, disbursements, or any other type of payment,” said Louis Hoch, President and CEO of Usio. . “Managing funds disbursements is a significant risk for organizations, one that is rarely strategic to their core mission, but consumers are demanding ever-increasing speed and flexibility in how these payments are handled.”
Consumer Choice increases the efficiency, reducing the time and expense, of managing direct payments through a single platform, while giving consumers the choice of multiple payment options. Additionally, Usio manages all personally identifiable information (PII) and absorbs electronic funds disbursement risk, including managing the escheat process for unclaimed funds, so organizations can be confident that their direct payment programs are fully compliant with all regulations.
“Usio is unique in offering all elements of this integrated solution in-house, enabling an unparalleled level of integration that streamlines disbursements,” continued Louis Hoch. “Consumer Choice builds on Usio’s leadership in ACH payments, physical and virtual prepaid card management, push payments, and print and mail refunds, medical expense reimbursements and more.”
With the Usio solution, consumers receive an SMS or email with the details of a pending payment. Consumers can then choose from these options to receive the money:
Push Payments – send funds in real time to recipient’s existing debit card
Card management – send virtual or physical branded prepaid Mastercard to any mobile number email address. Virtual cards can easily be provisioned to Apple, Google or Samsung wallets
ACH transfers funds directly to a bank account
Printed checks leverage Usio’s ability to handle bulk printing and mailing of checks, invoices, and other documents
For businesses and other organizations, the Usio Consumer Choice solution expedites funds disbursement needs for businesses while reducing costs, mitigating fraud, improving overall manageability, and promoting loyalty and retention.
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading provider of integrated, cloud-based FinTech electronic payment solutions, offers a wide range of payment solutions to merchants, billers, banks, offices services, crypto exchanges and card issuers. The company operates credit, debit/prepaid and ACH payment processing platforms to provide its customers with convenient, world-class payment solutions and services. The Company, through its Usio Output Solutions division, offers services related to electronic invoice presentment, document composition, document breakdown, and printing and mailing services. The Company’s strength lies in its ability to provide tailor-made solutions for card issuance, payment acceptance and bill payment as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, TX, with offices in Austin, TX and Franklin, TN, just outside of Nashville.
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Except for historical information contained in this release, the matters discussed in this release include forward-looking statements that are covered by safe harbors. These statements include, but are not limited to, all statements regarding management’s intent, beliefs and expectations, 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”, “expect”, “anticipate”, “plan” and “expect”, among others. The forward-looking statements contained in this press release are subject to certain risks and uncertainties inherent in the business of the Company that could cause actual results to vary, including risks relating to an economic downturn resulting from the COVID-19 pandemic, the realization opportunities from the acquisition of IMS, management of the Company’s growth, loss of key resellers, relationships with the Automated Clearinghouse network, banking sponsors, third-party card processing providers and merchants, security of our software, hardware and information, share price volatility, the need to obtain additional financing, risks associated with new tax laws and compliance with complex federal, state and local laws and regulations, as well as as other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. on including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. One or more of these factors affect, and in the future may affect, the Company’s business and financial results in the future. 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 material uncertainties inherent in the forward-looking statements included herein, the inclusion of this information should not be construed as a representation by us or anyone else that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information currently available to management. The Company undertakes no obligation to update forward-looking statements, except as required by law.
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Senior Vice President, Investor Relations