IRVINE, Calif., Jan. 16, 2014 (GLOBE NEWSWIRE) -- General Payment Systems, Inc. (OTC:GPSI) (the "Company") - a payment processing technology company that specializes in the $500 billion government payment space, is pleased to announce that the Company's transactional volume for the third quarter of 2013 is once again a record number, maintaining a trend of transactional growth. For the third quarter, the Company reported 177,794 transactions, the highest recorded total for any quarter in the Company's history.
Through the 177,794 transactions, the Company processed over $12.7 million in payments made to government entities. Depending upon the type of payment involved, the Company charged either a fixed-rate or percentage-based processing fee.
Historical transactional volume, in number of transactions is as follows:
2010: 238,339 transactions
2011: 399,261 transactions
2012: 526,366 transactions
Q1 2013: 172,262 transactions
Q2 2013: 176,117 transactions
Q3 2013: 177,794 transactions
"The Company is pleased to report another quarter over quarter improvement in our transactional volume," stated Ron Hodge, CEO, General Payment Systems. "We look forward to a bright 2014, armed with a pattern of success in the marketplace and an increasingly diverse suite of services we can provide to businesses and municipalities looking for more efficient and secure technology systems."
About General Payment Systems
General Payment Systems Inc. (dba EZ Card and Kiosk) is a technology company that provides government agencies with proprietary hardware (Kiosks) and cloud based software systems that automate the process of collecting payments from the general public (Cash, Debit and Credit). These systems deliver payment acceptance, real-time accounting and payment risk-mitigation services. The company distributes these technologies through direct sales, channel partners, and various licensed entities.
For more information visit www.ezcardandkiosk.com
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This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance isn't necessarily indicative of its future performance. The Company doesn't undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.