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.
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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 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.
CONTACT: Michael Long Investor Relations 210.249.4040 email@example.comSource:Payment Data Systems, Inc.