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SAN ANTONIO, Texas, Jan. 19, 2022 (GLOBE NEWSWIRE) — Usio, Inc. (Nasdaq: USIO), a provider of integrated electronic payment solutions, today announced that the City of Oakland Transportation Department (California) chose proprietary prepaid card technology as the payment solution for its revolutionary Universal Basic Mobility pilot.
Louis Hoch, President and CEO of Usio, said, “As a recognized leader in electronic payment solutions for guaranteed income programs, we are thrilled to have developed innovative technology that will help DOT Oakland to make access to its transportation system more affordable for those in need. Like the many other guaranteed income programs we support across the country for government entities large and small, we have developed a custom payment solution for Oakland DOT that provides contemporary payment technology that meets both their needs. as well as those of their constituents. I want to thank the Oakland DOT for their confidence in Usio, and we look forward to supporting this very worthwhile program.
“Usio has provided us with a product that helps us increase public transit, bike share and e-scooter rides in Oakland using grant funds,” said Quinn Wallace, Division of Parking and Safety. Mobility, City of Oakland, Department of Transportation. “As our work progresses, Usio continues to be very responsive and understand both our project needs and the regulatory context as a public entity, including our privacy policies.”
Under this pilot program, citizens living or working in East Oakland can apply for up to $300 that can be used for transit and shared mobility only on a prepaid debit card. Up to 500 participants were randomly selected from qualified applicants. To learn more about this program and similar programs across the United States, visit: https://www.bloomberg.com/news/articles/2021-11-11/us-cities-test- effects-of-universal-basic-mobility?sref=81ZfsQPj
Houston Frost, Senior Vice President of Prepaid Services, added, “For many people, lack of access to affordable transportation is a barrier to joining the workforce. The Oakland Department of Transportation’s innovative Universal Basic Mobility Pilot program attempts to solve this problem. This is another example of how our proprietary prepaid technology simplifies and facilitates the implementation of various forms of guaranteed income programs. Usio’s solutions enable the efficient disbursement of funds, the ability to control how those funds can be used, and provide program managers with actionable insights. As guaranteed income programs gain more acceptance across the country, Usio will be there with custom solutions that can help these organizations better serve their constituents.
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 bureaus, 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’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, Texas, with 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. 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”, “continue” 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 the growth of the Company, the loss of key resellers, relationships with the Automated Clearinghouse network, banking sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the share price volatility, the need to obtain additional financing, risks associated with new legislation and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Documents the company’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended 31 December 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 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.