Business
Usio Announces Transaction Processing Volume for The First Quarter of 2020
Card Processing Volume Growth Sequentially Accelerates to 21% from 17% in Fourth Quarter Led by PayFac SAN ANTONIO, May 11, 2020 (GLOBE NEWSWIRE) -- Usio,
About this update from Usio, Inc.
[{"type":"text","content":"Card Processing Volume Growth Sequentially Accelerates to 21% from 17% in Fourth Quarter Led by PayFac\nSAN ANTONIO, May 11, 2020 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, today announced transaction processing results for the first quarter of fiscal 2020.\n First Quarter 2020 Compared to First Quarter 2019 Processing Results: Card Processing, Including PayFac Credit Card Dollars Processed+ 21%Credit Card Transactions Processed+ 19% Both dollars and transactions were the highest in the Company’s history, with the increase primarily attributable to the success of the Company’s growth initiatives, specifically PayFac, where volumes were up over 50% sequentially from the fourth quarter. ACH Electronic Check Transaction Volume- 4%Returned Check Transactions Processed - 14% Prepaid Prepaid Card Load Volume+ 8%Prepaid Card Transaction Volume+ 13% Total Dollars processed in the first quarter of 2020 were $877 million, up incrementally from a year ago. Management’s Comments Louis Hoch, President and Chief Executive Officer of Usio, said, “Strong growth in our Card Processing business clearly illustrates that our strategy to invest in PayFac is gaining traction, as all of the growth in Card Processing was a product of another better than 50% increase in PayFac volume. Prepaid also had good growth. With 30 new accounts brought on in just the last two weeks of March, and a growing portfolio of unique services, ACH is expected to add to its long track record of full year growth again in 2020.” 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 Austin, Texas, and Franklin, Tennessee, just outside of Nashville. Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com, and www.ficentive.com. Find...