Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider, announced today that the fourth quarter of 2011 set a record for transactions processed by the company.
Fourth Quarter Processing Results
The fourth quarter's ACH (electronic check) processing volumes were the highest in the history of the company with transaction volumes showing increases of 118% when compared to third quarter of 2011. ACH returned check transactions increased 125% compared to the same period.
Credit card processing volumes for fourth quarter were also the highest of any quarter in the previous two years.During the month of December we saw credit card dollars processed increase by 40% over November of 2011 and increased by 26% over same period in 2010. 2011 Annual Processing Results 2011’s ACH (electronic check) processing volumes were the highest in the history of the company. The year’s ACH transaction volumes were up more than 800% as compared to 2010. Credit card processing volumes for all of 2011 were also the highest since 2009. Credit cards dollars processed in 2011 were up 38% over 2010. Michael Long, CEO, said, "The fourth quarter was a tremendous quarter for us. Our ACH processing volumes more than doubled the dramatic growth we experienced in the third quarter and December’s credit card processing was the best month in the history of the company. This growth has led to a dramatic, positive increase in revenues, gross profit, operating income and net income both for the fourth quarter and the year. We look forward to reporting record earnings for 2011." Long continued, "We were pleased to end the year as San Antonio, Texas’s top performing stock based upon the article written by David Hendricks, business columnist of the San Antonio Express News. Mr. Hendricks noted that, 'The best San Antonio stock, technically, was Payment Data Systems Inc., which enjoyed a whopping gain of 340.91 percent….'" Mr. Hendricks’s complete article is located at: