Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider announced today that August 2011 set a record for transactions processed by the company.
August’s ACH (electronic check) processing volumes were the highest in the history of the company. The month’s ACH transaction volumes were up 64% and ACH returned check transactions were up 50% compared to July of 2011.
Credit card processing volumes for August were also the highest of any month in the previous three years. Credit cards dollars processed during the month were up 8% over July of 2011 and up 79% over August of 2010.
Michael Long, CEO, said, “Payment Data is continuing to publically demonstrate its ability to grow transactions for both ACH and credit card processing. As stated before, we view this growth as a foundation which will serve us well into the future.”Long continued, “We are very pleased to see this high growth in our operations extend itself into positive growth for top line revenue, gross profit, operating income and net income. We expect to post record financials when we report our earnings for the 3rd quarter which is anticipated on or about October 17, 2011.” About Payment Data Systems, Inc. Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments. For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at firstname.lastname@example.org. Website: http://www.paymentdata.com, www.ficentive.com, www.zbill.com Find us on Facebook® FORWARD-LOOKING STATEMENTS DISCLAIMER: Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. 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.