SAN ANTONIO, June 10, 2014 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCQB:PYDS), an integrated electronic payments solutions provider announced today that it has already exceeded the transactions volume processed in all of 2013 in the first five months of 2014.
May 2014's electronic check transaction volumes were up 18% and returned check transactions were up 1% as compared to April 2014.
Credit card processing volumes May 2014 were the second highest in the history of the company. Credit cards dollars processed during May 2014 were up 15% over the same time period in 2013. Credit cards transactions processed during May 2014 were up 61% over the same time period in 2013.Total dollars processed for May 2014 exceeded $288,000,000. Michael Long, CEO, said, "I am very pleased to announce that our high growth in transactions processed has already led us to exceed the volume of transactions we processed in all of 2013. The resulting financial metrics for the combined first two quarters of 2014 will also exceed the complete annual results of 2013. The second quarter of 2013 financial results will be stronger than we reported in the first quarter and will result in our third quarter in a row of profits. We expect this year to lead to the company obtaining the financial benchmarks to allow for us to seek a listing on NYSE MKT. Based upon our rapid growth and resulting financial metrics, I am currently projecting sales in 2014 to be more than double that of 2013." 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.