Total Dollars processed in the first quarter of 2021 of $1.86 billion, more than double previous record
SAN ANTONIO, April 26, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, today reported record transactions and processing volume for the first quarter of 2021.
Louis Hoch, President and Chief Executive Officer of Usio, said, “First quarter electronic payments and dollar transaction processing volume was more than double our previous record quarter, which was set in the fourth quarter of 2020. These two consecutive quarters of record dollars processed clearly indicates our business has inflected, and we have now been consistently operating at a significantly higher level of activity. There has been a doubling of key performance metrics in each of our segments, with ACH electronic check dollars processed up 139%, and credit card transactions processed and prepaid load volume both up 105%. The new year is off to a great start and we are capitalizing on the strong business momentum by continuing to invest in our growth platforms to further strengthen the Usio franchise.”
First Quarter 2021 Processing Results
| Card Processing, Including PayFac | ||
| vQ1 20 | ||
| Credit Card Dollars Processed | + 30% | |
| Credit Card Transactions Processed | + 105% | |
| Prepaid | ||
| vQ1 20 | ||
| Prepaid Card Load Volume | + 105% | |
| Prepaid Card Transaction Volume | + 89% | |
| ACH | ||
| vQ1 20 | ||
| Electronic Check Transaction Volume | + 37% | |
| Returned Check Transactions Processed | + 24% | |
| Electronic Check Dollars Processed | + 139% |
More ACH and Card transactions were processed in the first quarter of 2021 than any previous quarter in the company’s history. Total Dollars processed in the first quarter of 2021 were $1.86 billion, topping the previous all-time record of $920 million that was set in fourth quarter of 2020.
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 its clients. The strength of the Company is its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector and its ability to provide and execute on its service commitments. 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.
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," "should,” 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 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