This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Payment Data Systems Experiences Best Processing Month Of The Year

Payment Data Systems, Inc. (OTCBB: PYDS), an integrated electronic payments solutions provider today announced that, on an unaudited basis, the month of October, we processed the highest credit card dollar volume for any month this year. November processing totals were also impressive. With the increased volume that occurred in October and November, we are certain that the totals for the fourth quarter will be the best of the year and will represent a 15-20% increase over last quarter’s volumes.

We are excited to realize this growth during a time that the U.S. economy is experiencing great challenges in terms of recession and high unemployment. We believe our growth is attributable, in large part, to the makeup of our client base which is predominately large recurring billers like insurance companies and the fact that we have fewer retail merchants in terms of volume. We also attribute the increases to our continuing sales efforts including those that are being generated by our value-added resellers.

Michael Long, Chairman and CEO of Payment Data Systems, said, “In spite of the economic conditions that are affecting millions of our citizens, our business continues to grow and remain vibrant. As previously announced our transaction volume for the third quarter was the highest volume we have experienced for any quarter for this year. As we look into the remainder of the year and beyond we remain very enthusiastic about our ability to grow all segments of our businesses of merchant card processing, prepaid and corporate incentive, and online bill pay.”

Long continued, “Due to this growth in transaction volume coupled with our strong and continued commitment to control SG&A expenses, we anticipate the fourth quarter of 2010 should be our best quarter of 2010 for revenue and income generation from operations. The merchant acquiring segment of PDS continues to grow, and we are now processing payments for nearly 300 churches and church organizations. Our prepaid card operation, FiCentive, is continuing to earn new corporate clients for its printed on-demand corporate card incentive programs and has implemented two general purpose card programs recently, the Redpack Mi Promesa card program and the Elite Life card program. We are excited about the revenue opportunities that both of these programs create for Payment Data Systems. The new programs and print on-demand feature are also opening up new vertical markets for us.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs