Total dollars processed in the second quarter of 2022 was $2.4 billion, again increasing on a sequential basis

Dollars and transactions processed in the company’s card segment – including PayFac were all-time quarterly records

SAN ANTONIO, Texas, July 26, 2022–(BUSINESS WIRE)–Usio, Inc. (Nasdaq: USIO), a provider of integrated, cloud-based FinTech electronic payment solutions, today announced that it has processed a total of $2.4 billion in second quarter 2022, up 2% sequentially from the first quarter of the year. Total card dollars and transactions processed in the company’s card segment, including PayFac, were all quarterly highs.

Louis Hoch, President and CEO of Usio, said, “We are delighted to have generated sequential growth in total dollars processed in the second quarter and to report record processing performance in our cards segment. . Prepaid also continued its strong growth, with transactions processed in the quarter nearly doubling from a year ago. And ACH delivered sequential growth, although transaction volume and e-check dollars processed declined from last year’s record cryptocurrency-related performance. As consumer lending has increased due to a weak economy, ACH is also showing growth in its value-for-money returned check transaction processing services. Output Solutions continues to outperform our internal revenue estimates and is positioned to accelerate growth through a rich pipeline of leads from our cross-selling activities within our payments customer base.

“Our diverse channel strategy continues to enable us to generate strong growth. Additionally, we have a strong new sales pipeline, primarily in our PayFac business, but also with our non-bank lenders, and have over $15 million of potential card deterioration that we expect to begin recognizing in September. Additionally, card and ACH volumes set record highs in the last month of the quarter, June 2022, with monthly card volumes hitting a low record and ACH volumes nearing our record level for a Therefore, we maintain our outlook for revenue growth of 16-20% for the year, conditional on favorable economic conditions.

Second quarter 2022 treatment results

Card processing including PayFac

vQ1 22

vQ2 21

Credit card dollars processed

+ 2%

+9%

Credit card transactions processed

+ 5%

+35%

During the quarter, total card dollars processed exceeded $332 million, with nearly 2.8 million transactions processed, two all-time quarterly records.

Prepaid

vQ1 22

vQ2 21

Loading volume of prepaid cards

– 16%

+81%

Prepaid card transactions processed

– 28%

+190%

Prepaid Card Purchase Dollars Processed

– 27%

+76%

Total dollars loaded on prepaid cards was $58 million in the second quarter of 2022.

ACH

vQ1 22

vQ2 21

E-check transaction volume

+ 10%

– 8%

Returned check transactions processed

+ 9%

+39%

Electronic Check Dollars Processed

+ 10%

-16%

Output solutions including electronic and print

vQ1 22

vQ2 21

Transactions/coins processed

– 25%

+11%

Total transactions/coins processed over 2.1 million.

Total payment dollars processed through all payment channels in Q2 2022 were $2.4 billion, up 2% from Q1 2022 but down 12% from Q2 record quarter of last year. The total number of payment transactions processed in the second quarter of 2022 amounted to 10.35 million.

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 STATEMENTS

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”, “look forward to”, “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 legislation 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. 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 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.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220726005401/en/

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Joe Hassett, Investor Relations
[email protected]
484-686-6600

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