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Total dollars processed of $2.9 billion in the fourth quarter of 2021, up 215% from the fourth quarter of the previous year
Transactions and dollars processed are the largest for a single quarter in company history
Total dollars processed of $9.5 billion in fiscal 2021, up 184% from fiscal 2020
SAN ANTONIO, Jan. 25, 2022 (GLOBE NEWSWIRE) — Usio, Inc. (Nasdaq: USIO), a provider of integrated, cloud-based FinTech electronic payment solutions, today announced record transaction volume and treatment for the fourth quarter of 2021.
Louis Hoch, President and CEO of Usio, said, “We ended the year with the strongest quarter in the company’s history, with a total of $2.9 billion processed, or a 215% increase over total dollars processed in the fourth quarter. quarter of 2020. ACH’s growth was particularly impressive, with e-check transaction volume more than doubling and e-check dollars processed nearly tripling compared to the same quarter a year ago. Total dollars loaded on prepaid cards set a new quarterly record at $65 million, fueling a 205% increase in prepaid card transaction volume from the fourth quarter a year ago. And, credit card dollars and transactions processed for the fourth quarter increased by more than 40% compared to the same quarter last year. Following increases in each of our segments, total dollars processed for the year of $9.5 billion also set a new record for the company and increased 184% from fiscal 2020. We expect this strong transaction and volume of dollars processed to translate into record fourth quarter revenue. Once again, we believe that our payment channel diversification strategy has proven to be the catalyst for this spectacular growth and our key to weathering any potential headwinds that may arise from Covid or subdued inflation. . Our goal is to further capitalize on this momentum to continue strong revenue growth and increase our existing positive cash flow. We look forward to publishing 2021 annual record label revenues and revenues in our financial statements by the end of March. »
Fourth quarter 2021 treatment results
|Card processing including PayFac|
|vQ4 20||vQ3 21|
|Credit card dollars processed||+ 41%||– 1%|
|Credit card transactions processed||+ 47%||+ 1%|
|vQ4 20||vQ3 21|
|Loading volume of prepaid cards||+ 32%||+ 13%|
|Volume of prepaid card transactions||+ 205%||+ 69%|
|Prepaid card purchase volume||+ 55%||+ 33%|
Total dollars loaded on prepaid cards surpassed $65 million in the fourth quarter and set a new quarterly record.
|vQ4 20||vQ3 21|
|E-check transaction volume||+ 108%||+ 26%|
|Returned check transactions processed||+ 94%||+ 35%|
|Electronic Check Dollars Processed||+ 271%||+ 46%|
Total dollars processed in the fourth quarter of 2021 was $2.9 billion, up 215% from the same period last year. The total number of transactions processed in the fourth quarter of 2021 was 11.3 million. Transactions and dollars processed are the largest for a single quarter in the company’s history.
Treatment results of the year 2021
|Card processing including PayFac|
|Credit card dollars processed||+ 42%|
|Credit card transactions processed||+ 76%|
Total dollars processed for the card was $1.2 billion for the year, a new all-year high.
|Loading volume of prepaid cards||+ 32%|
|Volume of prepaid card transactions||+ 135%|
|Prepaid card purchase volume||+ 41%|
Total dollars loaded on prepaid cards topped $184 million in 2021, a new all-year high.
|E-check transaction volume||+ 93%|
|Returned check transactions processed||+ 81%|
|Electronic Check Dollars Processed||+ 238%|
Total dollars processed for the year 2021 was $9.5 billion, a new annual high and an increase of 184% over the year 2020. The total number of transactions processed for the year 2021 was 35.3 million, a new record for the year 2020 and an increase of 94% compared to the year 2020.
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. Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook® and Twitter.
DISCLAIMER OF FORWARD-LOOKING STATEMENTSExcept 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”, “look into the future”, “anticipate”, “plan” and “expect”, among others. . are subject to certain risks and uncertainties inherent in the business of the Company that could cause actual results to vary, including risks related to an economic downturn resulting from the COVID-19 pandemic, the realization of opportunities from the acquisition of IMS , management of Company 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, stock price volatility, 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 filings by the Company to 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 has affected, and in the future may affect the Company’s business 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 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.
Contact:Joe Hassett, Investor [email protected]
Source: Usio, Inc.