SAN ANTONIO, Aug. 11, 2014 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCQB:PYDS), an integrated electronic payments solutions provider announced today that it has high growth in transactions for the month of July.
July 2014's electronic check transaction volumes were up 13% and returned check transactions were up 16% as compared to June 2014.
Credit card processing volumes July 2014 were the second highest in the history of the company. Credit cards dollars processed during July 2014 were up 20% over the same time period in 2013. Credit cards transactions processed during July 2014 were up 63% over the same time period in 2013.
Total dollars processed for July 2014 exceeded $281,000,000.
Michael Long, CEO, said, "I am thrilled with the continued growth that we are experiencing and I believe we will continue to experience similar growth in the foreseeable future. We have already surpassed our annual sales of 2013 and we expect to exceed 100% year over year growth in revenue and associated profits. The effect is that we believe our company is currently undervalued. We will report record quarterly revenues on or before August 14th."
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.