Total dollars processed in the first quarter of 2021 of $ 1.86 billion, more than double the previous record
SAN ANTONIO, April 26, 2021 (GLOBE NEWSWIRE) – Usio, Inc. (Nasdaq: USIO), an integrated provider of electronic payment solutions, today announced record transaction and processing volume for the first quarter of 2021.
Louis Hoch, President and CEO of Usio, said: “The volume of electronic payment processing and dollar transactions in the first quarter was more than double our previous record quarter, which was set in the fourth quarter of 2020. These two consecutive quarters of record dollars traded is a clear indication that our business has shifted and that we are now operating consistently at a significantly higher level of activity. There was a doubling of key performance metrics in each of our segments, with ACH e-checks processed up 139%, and credit card transactions processed and prepaid load volume up 105%. The new year is off to a good start and we are capitalizing on the strong commercial momentum by continuing to invest in our growth platforms to further strengthen the Usio franchise.
First trimester 2021 treatment results
|Card processing, including PayFac|
|Credit card dollars processed||+ 30%|
|Credit card transactions processed||+ 105%|
|Prepaid card loading volume||+ 105%|
|Prepaid card transaction volume||+ 89%|
|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 stood at $ 1.86 billion, beating the previous all-time high of $ 920 million set in the fourth quarter of 2020.
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.singularpayments.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” 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 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 federal laws and regulations. complex localities, and other risks detailed from time to time in the 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. 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 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