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SAN ANTONIO, Feb. 6, 2014 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider announced today that it is continuing to experience high growth in transactions processed.
January 2014's electronic check transaction volumes were up 41% and returned check transactions were up 6% as compared to December 2013.
Total dollars processed for January 2014 set a new record for the company exceeding $190,000,000 and breaking the previous record that was achieved in December 2013.
Credit card processing volumes January 2014 were the second highest in the history of the company. Credit cards dollars processed during January 2014 were up 17% over the same time period in 2013. Credit cards transactions processed during January 2014 were up 52% over the same time period in 2013.
Michael Long, CEO, said, "We are excited about the early results for the first quarter of 2014. If the growth trends continue, which we believe they should, the first quarter will result in positive influences in cash flow, revenues, gross profits and net income. We continue to be excited about our newly acquired customers and believe the increase in transactions should continue for the foreseeable future. 2014 should be an exciting year for our company."
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
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