SAN ANTONIO, Aug. 17, 2021 (GLOBE NEWSWIRE) – Usio, Inc: (Nasdaq: USIO), a provider of integrated electronic payment and FinTech solutions, today announced that it has been awarded a contract with the New York City Economic Development Corporation (NYCEDC) to support the Mayor’s recently launched vaccine incentive program. As part of this program, the city will offer a cash reward of $ 100.00 to residents and employees of New York State who will receive their first dose of the COVID vaccine at sites operating on the appointment platform. city ââvax4nyc. Eligible sites are listed on the City’s Vaccinefinder tool.
First-time photo takers will either receive a prepaid debit card in the mail or a digital card immediately by email. Usio’s contract is to provide both the physical and virtual cards and the underlying electronic payment technology. According to New York City Mayor Bill de Blasio, more than 60% of the city’s population has received at least one injection of COVID-19. As a result, approximately 40% of the eligible population of New York City is eligible for the incentive where they will receive a Mastercard branded Usio prepaid card.
Louis Hoch, President and CEO of Usio, said, âWe are very honored that NYCEDC has chosen Usio for this very important program. Our ability to quickly deliver a solution that provides the convenience and simplicity that NYCEDC seeks for the payment element of this program exemplifies our ability to deliver creative and innovative payment technology in the physical and virtual worlds. The program is already operational and we look forward to supporting its success in achieving the Mayor’s vision for New York City.
âThe New York City Economic Development Corporation is proud to work with Usio to implement this important incentive program,â said Rachel Loeb, President and CEO of NYCEDC. âWe’ve already surpassed $ 6 million in incentives for vaccines, with a goal of distributing $ 20 million, and vaccinations are essential to keeping New Yorkers healthy and for a strong recovery for all. We cannot have economic health without good public health, and we hope this important program will encourage more New Yorkers to get vaccinated. “
Miguel Gamino, Executive Vice President, Corporate Partnerships and Head of Global Cities and City Possible, Mastercard, said: âIt will take a collective public-private response to emerge from the pandemic stronger and more inclusive. We are proud to support Usio and NYCEDC’s efforts to encourage early immunizations for New York residents. Through City Possible, launched by Mastercard, we have partnered with Usio to leverage our products to help with emergency response efforts that have provided essential financial assistance to those in need. We look forward to expanding our partnership to support communities across the country with equitable vaccine distribution. “
Houston Frost, senior vice president of corporate development and prepaid products, added, âI echo Louis’ sentiments in thanking NYCEDC for the opportunity to provide the backbone of electronic payments for this important, fast growing and highly visible program. This contract is a natural extension of the prepaid and related solutions that we have been providing to New York City agencies since last year, when they were tasked with disbursing funds under the various charitable and other aid programs. economic aid programs developed in response to the pandemic. For many of these programs, prepaid was the payment solution of choice because of its many advantages over other types of payment. Under this program, recipients can choose to either receive a prepaid card in the mail to their home or receive their payment immediately on their smartphone, where we will use our advanced virtual card technology. Our goal is to provide users with a convenient and easy-to-use electronic payment solution that offers them all the benefits of improved record keeping, tracking and other benefits and that is offered in a contemporary format with which their end consumers are extremely comfortable.
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 their 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. 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.
The New York City Economic Development Corporation is a mission-driven, nonprofit organization that creates shared prosperity across New York City by strengthening neighborhoods and creating good jobs. NYCEDC works with and for communities to provide them with the resources they need to thrive and invest in projects that increase sustainability, support job growth, develop talent, and drive innovation to strengthen competitive advantage from the city. To learn more about our work and initiatives, please visit us on Facebook, Twitter or Instagram.
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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, but are not limited to, all statements regarding the intent, 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”, “expect” 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 an economic downturn resulting from the COVID-19 pandemic, the realization of opportunities arising from the acquisition of IMS, managing the growth of the Company, the loss of key resellers, relationships with the Automated Clearinghouse network, bank sponsors, card processing providers and third party merchants, security of our software, hardware and information, stock price volatility, the need for additional financing, the risks associated with new tax laws and compliance with complex federal, state and local laws and regulations, and ” other risks detailed from time to time in documents filed by the Company with the Securities and Exchange Commission on, 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 significant 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