SAN ANTONIO, July 20, 2015 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider announced today that the company processed a record number of transactions during the second quarter of 2015.
Credit card processing volumes second quarter of 2015 were the highest in the history of the company for any previous quarter. Credit cards dollars processed during second quarter of 2015 were up 9% over the same time period in 2014. Credit cards transactions processed during first quarter of 2015 were up 6% over the same time period in 2014.
Electronic check transaction volumes for the second quarter of 2015 were the fourth highest in the history of the company for any previous quarter. Electronic check transaction volumes during second quarter of 2015 were up 2% over the same time period in 2014. Returned check transactions processed during first quarter of 2015 were down 2% over the same time period in 2014.
Total dollars processed for the second quarter of 2015 exceeded $806,800,000 and is the second highest in the history of the company for any previous quarter.
Michael Long, CEO, said, "We were very pleased with our credit card transaction volumes for this quarter and look forward to a strong closing out of the second half of the year. All other forms of transaction processing remained strong for the first half of 2015 and we anticipate this growth should continue for the remainder of 2015 as we bring our planned new products and services to market."
Habib Yunus, CFO, added, "We are thrilled that we continue to grow at a fast and manageable pace. Combined with our pending graduation to NASDAQ, these results provide a compelling story for shareholders to participate in this vibrant phase of our growth. We continue to work closely with the NASDAQ team and we hope to culminate the listing in the near future."
Our quarterly earnings for the second quarter of 2015 are anticipated being released in our 10Q report on or about August 14, 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.