SAN ANTONIO, May 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.
April 2014's electronic check transaction volumes were up 36% and returned check transactions were up 37% as compared to March 2014.
Credit card processing volumes during April 2014 were up 14% over the same time period in 2013. Credit cards transactions processed during April 2014 were up 54% over the same time period in 2013.
Total dollars processed for April 2014 was over $242,000,000.
Michael Long, CEO, said, "We are very pleased the second quarter of 2014 has started with strong growth in transactions and dollars processed. Our growth in processing is occurring from both new sales and from existing customers processing higher volumes. The growth trend is continuing and should continue for the foreseeable future. The second quarter should exceed the positive increases in our financial metrics that we experienced in the first quarter of 2014."
We will announce our first quarter earnings and issue our 10Q report on or about May 15, 2014.
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 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.
Source:Payment Data Systems, Inc.