Usio Announces Two New Partnerships As Foundation for a Leadership Position in Legal Software Industry
Both Companies Are Integrating Usio’s Proprietary PayFac-in-a-Box™ Electronic Payments Platform into their Software to Simplify and Speed the Payments Experience
SAN ANTONIO, June 25, 2020 (GLOBE NEWSWIRE) -- Usio (Nasdaq: USIO), a tech-enabled payment solutions provider, announced today that it has signed partnership agreements with a number of large legal software providers, firmly establishing its proprietary PayFac-in-a-Box technology as the preferred payments technology in the legal industry. Amongst the firms adopting the company’s proprietary technology are the leading family law mobile application AppClose®, as well as the country’s largest bankruptcy software application. Both firms intend to leverage Usio’s Payment Facilitation platform to provide an integrated payments experience to the hundreds of thousands of individual clients and law practices they support.
Commenting on the announcement, Greg Carter, SVP of Payment Facilitation at Usio, said, “Implementing Usio’s unique technology will provide these firms with a wealth of advantages, primarily the elimination of manual processes associated with receiving and depositing paper checks, which reduces costs associated with their collection and disbursement functions. Utilizing our proprietary PayFac-in-a-Box technology, both of these organizations will be embedding a comprehensive electronic payments solution inside their technology, thereby increasing the value of their software to their individual law firm clients. Our technology will provide the individual law firm with the ability to accept debit and credit card and ACH payments. Users will be able to more easily and conveniently remit payments that can be easily tracked and characterized by the unique niches they serve, including legal fees payable directly to attorneys, and trustee accounts that are specialties of these firms.”
“AppClose has a growing base of hundreds of thousands navigating the co-parenting landscape, with these users interacting with thousands of family law attorneys who recommend AppClose,” continued Carter. “Additionally, the largest domestic bankruptcy software platform has introduced integrated payments to their base of 15,000 attorneys. With the average cost to file a bankruptcy claim at $4,500, we are very bullish about the potential volume associated with this partnership. The legal vertical is an attractive market in that it features significant recurring payments that can be more efficiently processed using our technology. For these reasons, we are optimistic and excited about having established a solid foundation in this industry with some of its leading software providers, and where the electronic payments processing market is highly fragmented.”
Igor Litinsky, CEO and founder of AppClose, commented, “Aligning with Usio allows us to continue to focus our resources on great intuitive products, acquiring customers, and maintaining service excellence. We can leverage Usio’s existing state of the art electronic payments infrastructure for frictionless onboarding of lawyers and law firms to our soon to be launched payment solutions, as well as regulatory compliance. We are built to scale, and our partnership with Usio is an important piece of the scalable infrastructure.”
About AppClose
AppClose was launched in 2016 to create and dominate a multi-sided market that serves the family law ecosystem. AppClose now provides one of the leading co-parenting apps in the United States, with several hundred thousand registered users. Courts and legal professionals throughout the United States recommend AppClose. The App is free to co-parents and to attorneys and other legal professionals who use the App to communicate with their clients. AppClose’ new payment solutions for legal professionals will be powered by the Usio payment infrastructure.
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About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), 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. Usio is headquartered in San Antonio, Texas, and has offices in Franklin, Tennessee, just outside of Nashville.
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