SAN ANTONIO, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, today announced that 4-CT and United Way of Central and Northeastern Connecticut (UWCNC) have selected Usio’s proprietary prepaid card-issuing platform as its preferred channel to distribute relief funds to those in need as a result of the COVID-19 pandemic.
4-CT and UWCNC are the latest in a growing list of governmental and non-profit organizations that recognize Usio’s prepaid card platform is a convenient, flexible and more efficient means to manage charitable programs.
“There is a tremendous need for immediate financial assistance in so many of our local communities. We are humbled that so many governmental and charitable organizations are finding our prepaid card platform provides a valuable and effective way for them to get much needed financial relief to those affected by the economic impact of the COVID-19 pandemic,” said Houston Frost, Senior Vice President, Prepaid Products, of Usio. “Usio’s card issuing solution provides UWCNC with an intuitive and cost-effective way to get money into the hands of recipients quickly via a virtual or physical card that can be easily reloaded.”
“Our local United Way has been proud to serve as the administrator for the 4-CT Card Program, which provides financial support for individuals who are otherwise ineligible for pandemic relief programs. In partnership with Usio and with support from 4-CT – a volunteer-led, independent non-profit entity that aims to help people who have been impacted by COVID-19 – more than 2,300 people across the state have been able to purchase food and other household necessities, clothing, healthcare, utilities, and transportation,” stated Paula Gilberto, President & CEO, United Way of Central and Northeastern Connecticut.
The 4-CT card provides direct aid where it is needed most. The 4-CT program supports Connecticut's most vulnerable, COVID-19 impacted communities and families excluded from existing federal relief programs. The program engages with trusted community-based organizations throughout Connecticut, who provide eligible recipients the 4-CT Card, a pre-paid debit card to help immediately pay for expenses like food and clothing.
“Organizations want to reach individuals who need assistance immediately. With our prepaid cards, there’s no need to collect bank account information or issue paper checks. Our prepaid cards streamline the disbursement of funds for the organizations we serve and provide the recipient with simple and time effective means to access the money received,” concluded Frost.
About United Way of Central and Northeastern Connecticut
United Way of Central and Northeastern Connecticut’s vision is a community where opportunities are available for every child to succeed in school and for every family to achieve financial security. United Way brings people and resources together to address immediate needs and finds long-term solutions to challenging problems. United Way does this by investing in programs and services, leading community change initiatives, and mobilizing resources and volunteers to ensure that: children succeed in school; people get jobs and are financially secure; people are healthy; and, basic needs are met during tough times. For more information, visit www.unitedwayinc.org.
About 4-CT
4-CT is an independent, 501(c)3 organization formed to bolster the resources available to Connecticut’s frontline non-profit providers who are serving all areas impacted by the COVID-19 crisis. Its mission is to coordinate philanthropy throughout Connecticut to quickly get funds to those who need them most. The organization partners with community foundations, non-profits, philanthropists, corporations, and donors to collect, develop and adapt potential solutions and prioritize and fund high-impact projects. 4-CT provides financial support to ensure their services can meet increased demand and make a positive impact. For more information or to make a donation, please visit 4-ct.org.
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, and www.akimbocard.com. 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," "continue," "look forward," "anticipate," 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 risks related to the COVID-19 pandemic and its effect on the economy, risks related to the realization of the anticipated opportunities from the prepaid card business, 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, 2019. 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. 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
Gregory FCA
joeh@gregoryfca.com
484-686-6600