SAN ANTONIO, June 03, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq:USIO), a leading FinTech and integrated electronic payment solutions provider, today announced that May 2021 was the Company’s first-ever month in which it processed in excess of $1 billion dollars of transaction volume.
“Our ACH business is driving unprecedented growth,” said Louis Hoch, President and Chief Executive Officer of Usio. “We had our best quarter of transaction processing volume in the fourth quarter of 2020, and in the first quarter of 2021 we doubled the dollar volume we processed in the fourth quarter of 2020. That alone is reason to celebrate, but in the first two months of the second quarter of 2021, our ACH business has already exceeded the first quarter’s record number of transactions and dollar volume processed. And, now in May 2021, we achieved our first $1 billion processing month, with over $1.1 billion in transaction dollar volume processed, which speaks to the strength of the relationships we are building with organizations in fast-growing industries, such as cryptocurrency and FinTech lending. As always, we look to sustain this momentum by focusing on execution, investing in technology, and providing unparalleled service, all with an eye to deliver shareholder value."
* Q2 2021 represents transaction dollar volume processed for the first two months of the second quarter of 2021.
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. With the acquisition of the assets of IMS in December 2020, the Company now offers additional 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: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on LinkedIn, 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
joeh@gregoryfca.com
484-686-6600