Payment Data Systems Changes its Corporate Name to Usio, Inc.

In Celebration, Company will Ring the Nasdaq Closing Bell on July 1

New name reflects the F"usio”n of its comprehensive portfolio of industry-leading and innovative electronic payment technologies

SAN ANTONIO, June 25, 2019 (GLOBE NEWSWIRE) -- Payment Data Systems (Nasdaq: PYDS), a tech-enabled payment solutions provider, today announced that the company has changed the name of the organization from “Payment Data Systems, Inc.” to “Usio, Inc.”  In conjunction with the name change, the company will also change its common stock ticker from “PYDS” to “USIO.”  The new symbol will be effective on July 1, 2019, when the company is scheduled to ring the Nasdaq closing bell.

“The new name, Usio, represents the fusion of many products, many services, many incredible people and the infinite possibilities created through our innovative payments technology,” said Matt Morris, Vice President of Marketing at Payment Data Systems. “Over the past several years, the evolution of our business into a leading FinTech platform has vastly accelerated. We now offer solutions covering processing needs from card issuing to merchant acquiring and operate interfaces ranging from mobile apps to application programming interfaces. This new brand identity will help better position the company and more effectively communicate our comprehensive, industry-leading value proposition to our numerous constituencies, including merchants, financial institutions, independent software vendors (ISVs), corporations and the investment community.”

Senior Executives from the company, including Louis Hoch, CEO, Vaden Landers, CRO, Tom Jewell, CFO, Houston Frost, SVP of Prepaid Services, and Ken Keller, CTO, will highlight the name and ticker change by participating in Nasdaq’s Closing Bell Ceremony on July 1, 2019 at 4:00 p.m. Eastern. Viewers can watch the opening ceremony via the Nasdaq Marketsite Webcam at or on Facebook at .

Additional coverage of the bell-ringing will be available on the Company’s social media channels.

About Usio, Inc.

Usio, Inc., f/k/a Payment Data Systems, Inc. (Nasdaq: PYDS), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Payment Data Systems is headquartered in San Antonio, Texas, and has offices in Franklin, Tennessee, just outside of Nashville.

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Forward-Looking Statements Disclaimer

Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management's intent, belief and expectations, such as statements concerning 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," "anticipate," "schedule," 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 such risks related to the realization of the anticipated opportunities from the Singular acquisition, the management of the Company's growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of our stock price, 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 the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2018. One or more of these factors have affected, and in the future, could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.

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