Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider announced today that the third quarter of 2011 set a record for transactions processed by the company.
Third Quarter Processing Results
The third quarter's ACH (electronic check) processing volumes were the highest in the history of the company. The third quarter's ACH transaction volumes were up 598% and ACH returned check transactions were up 771% as compared to second quarter of 2011.
Credit card processing volumes for third quarter were also the highest of any quarter in the previous two years. Credit cards dollars processed during the month were up 23.5% over second quarter of 2011 and up 61% over same period in 2010.
Michael Long, CEO, said, "Obviously, we are excited about our tremendous growth in transactions processing. This growth has led to a dramatic, positive increase in revenues, gross profit, operating income and net income. We look forward to reporting record earnings for the 3rd quarter."
Third quarter 2011 earnings are anticipated being released on or about November 15, 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.
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. Contact Michael Long for Investor Relations information at 210.249.4040 or email at
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