Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider announced today that July 2011 set a record for transactions processed by the company.

July’s ACH (electronic check) processing volumes were the highest in the history of the company. The month’s ACH transaction volumes were up 85% and ACH returned check transactions were up 144% compared to June of 2011.

July’s credit card processing volumes were also the highest of any month in 2011 and 2010. Credit cards dollars processed in July were up 26% over June of 2011 and up 64% over July of 2010.

Michael Long, CEO, said, “Payment Data is currently enjoying unprecedented transaction growth for both ACH and credit card processing. This high growth in transactions processed is being accomplished through dramatically increasing customer volumes and new customer additions which should produce recurring revenue.”

“Furthermore, we do not foresee this as an anomaly but rather a foundation that will serve us well into the future. Clearly we have begun to move the indicators within the company into the green zones.”

“I recently provided guidance for the third quarter earnings. I see nothing that changes that guidance and this recent news only serves to reinforce the guidance. August numbers are already projecting excellent growth over the outstanding numbers that we experienced in July. For the third quarter of 2011 we are anticipating sales of over one million dollars along with positive earnings that will be derived from operations.”

Q2 2011 earnings are anticipated being released on or about August 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.

For additional information, visit Contact Michael Long for Investor Relations information at 210.249.4040 or email at


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Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.

Copyright Business Wire 2010

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