SAN ANTONIO, March 10, 2020 (GLOBE NEWSWIRE) -- Usio (Nasdaq: USIO), a tech-enabled payment solutions provider, announced today that InsureSmith, a leading provider of insurance brokerage software solutions, has integrated Usio’s proprietary payments technology, PayFac-in-a-Box, into its insurance brokerage software to enable users to pay their premiums directly through their platform.
Vaden Landers, EVP and Chief Revenue Officer at Usio, said, “InsureSmith has developed some of the insurance brokerage industry’s most advanced technology to simplify all manner of quoting, underwriting and other typically manual and time-intensive processes. They selected Usio’s proprietary PayFac-in-a-Box because it is the only platform on the market that met their requirements for a payments technology that was equal to their core technology. The insurance industry is another vertical we have identified as an opportunity to leverage our leading payment facilitation platform to achieve continued scale and market penetration. We are very pleased that InsureSmith has chosen Usio as their exclusive payments partner, and we look forward to a long and mutually beneficial relationship.”
Joey Harris, InsureSmith’s Co-Founder and Chief Executive Officer, said, “Usio’s PayFac-in-a-Box platform is an easy-to-use, easy-to-install payments platform that offers our users all of the functionality they need to process electronic premium payments, whether ACH, card or other. As one of the newest and most innovative players in the market, we needed to make sure that we went to market with the industry’s leading payments technology. Usio’s payment facilitation platform is just that. Our goal is to rapidly expand within the large and growing insurance brokerage sector and we are glad to have Usio alongside us for this exciting journey.”
About InsureSmith
Located in Buckhead, GA, InsureSmith has built a digital broker platform called “Cover 6”, which helps consumers, aviation brokers and manufacturers easily obtain insurance for their Drones. We provide bulk and individual policy options for ALL Drone product types. For our Broker clients, we offer a branded solution of the platform. Please visit www.cover6insurance.com for a policy or inquiries.
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.
Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com, and www.ficentive.com. Find us on Facebook® and Twitter.
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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.
Contact
Investor Relations:
Joe Hassett
Gregory FCA
joeh@gregoryfca.com
484-686-6600