Usio Reports Third Quarter Electronic Payments Transaction and Processing Volume
Total Dollars processed of $2.1 billion in the third quarter of 2021, up 141% from year ago third quarter
Total Dollars Processed Year-to-Date $6.7 Billion
SAN ANTONIO, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), a Fintech integrated electronic payment solutions provider, today reported record transactions and processing volume for the third quarter of 2021.
Louis Hoch, President and Chief Executive Officer of Usio, said, “Third quarter total dollars processed were up 141% from $852 million processed in the third quarter of 2020. Both Credit Card dollars and transactions processed for the third quarter set an all-time record, led by an increase in PayFac volume while total dollars loaded on prepaid cards exceeded $57 million, a new quarterly record. These results illustrate the value of our payment channel diversification strategy as we experienced a small, sequential downturn in ACH growth this quarter as expected. This strategy has led to strong results over this past year and is expected to continue to power our results. Furthermore, we expect this strategy should cause us to report record revenues for the third quarter and continued generation of positive cash flow.”
| Third Quarter 2021 Processing Results | |
| Card Processing, Including PayFac | |
| vQ3 20 | |
| Credit Card Dollars Processed | + 43% |
| Credit Card Transactions Processed | + 76% |
| Prepaid | |
| vQ3 20 | |
| Prepaid Card Load Volume | + 2% |
| Prepaid Card Transaction Volume | + 115% |
| Prepaid Card Purchase Volume | + 18% |
| ACH | |
| vQ3 20 | |
| Electronic Check Transaction Volume | + 86% |
| Returned Check Transactions Processed | + 100% |
| Electronic Check Dollars Processed | + 182% |
| Total Dollars processed in the third quarter of 2021 were $2.1 billion. | |
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated payment solutions provider, 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 deliver convenient, world-class payment solutions and services to their clients. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. 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 Austin, Texas, and Franklin, Tennessee, just outside of Nashville. Websites: , , and . Find us on Facebook® and Twitter.
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 an economic downturn as a result of the COVID-19 pandemic, the realization of opportunities from the IMS 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 the 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, 2020. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results 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 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 the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.
Contact:
Joe Hassett, Investor Relations
484-686-6600
