Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider, announced today that November 2011 set another record for transactions processed by the company.
November’s ACH (electronic check) processing volumes were the highest in the history of the company. The month’s ACH transaction volumes were up 43% and ACH returned check transactions were up 40% compared to October of 2011.
For the fourth quarter of 2011, we have already surpassed the record volumes we set in the third quarter of 2011. In just the first two months of the current quarter, we have already processed 90% more ACH transactions and 72% more in returned check transactions than we processed in the complete third quarter.
Michael Long, CEO, said, “The combined transactions processed in October and November have nearly doubled the volume processed in the whole third quarter of 2011 and returned check processing was 72% in the same period. We anticipate that the large transaction growth will produce yet another record quarter and record annual results in terms of revenues, gross profit, operating income, cash generation and net income.
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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