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Payment Data Systems Announces Apple Pay Support for Akimbo Prepaid MasterCard

SAN ANTONIO, Feb. 19, 2016 (GLOBE NEWSWIRE) -- Payment Data Systems (NASDAQ:PYDS) is pleased to announce that it now supports Apple Pay™ on the Akimbo Prepaid MasterCard®, including the Company’s co-branded reloadable cards distributed by its corporate clients.

Apple Pay, an easy and secure mobile payment service, enables customers to link participating credit and debit cards to their Apple Wallet, which can be used for convenient, contactless payments at many retailers across the United States. The Akimbo Card is one of the first consumer prepaid cards to support Apple Pay.

“Being first-to-market with the latest payment innovations is a top priority for our prepaid card solutions, and we’re proud to launch Apple Pay support for our flagship consumer card brand Akimbo,” said Louis Hoch, President and CEO of FiCentive. “Our goal is to help businesses use the Akimbo platform to deliver a wide variety of payments from rewards and incentives to regular payroll. We’ve built one of the most unique consumer reloadable card programs in the market today and look forward to continuing to develop and grow our Akimbo platform.”

About Akimbo, Akimbo Now and Akimbo Gift MasterCard
Akimbo is a consumer-facing social payments provider and prepaid card program manager. Akimbo strives to reinvent the prepaid card and offers a novel way to stay on budget, manage allowances and share money with friends and family.

Akimbo Now, launched in November, is a simple yet powerful payment solution and API that allows businesses and third-party applications to send rewards, incentives, and other payments to employees. Akimbo Now introduces a new and unprecedented disbursement method – a virtual card account that is sent via email and can be used immediately for online purchases or added to a mobile wallet.

In December, Payment Data Systems announced Akimbo Gift, a new consumer Gift MasterCard that can be ordered online and sent by email or traditional mail. Recipients of gift cards sent by email have the ability to collect a virtual MasterCard number online, avoiding the wait to receive the card in the mail. Gift card recipients also have the option to enroll for a reloadable Akimbo Card and transfer their gift card balance to the reloadable account, offering additional features like transfers to a bank account and ATM access.

About Payment Data Systems, Inc.
Payment Data Systems (NASDAQ:PYDS), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, and card issuers. The Company operates credit, debit/prepaid and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Payment Data is headquartered in San Antonio, Texas, and has offices in New York, New York; Long Beach, California; and San Francisco, California.

For additional information please visit www.paymentdata.com. Websites: www.streamprepaid.com, www.akimbocard.com, www.ficentive.com, www.paymentdata.com. Find us on Facebook®

About FiCentive, Inc.
FiCentive, Inc. is a turn-key prepaid card solutions provider that quickly and securely delivers customized prepaid card programs for corporations, financial institutions, affinity groups or any organization that needs to deliver a financial incentive to their customers, vendors, or employees.

Our proprietary platform boasts the highest level of security, encryption and card association compliance. We process prepaid card programs for many industries.

For more information about FiCentive, please visit www.ficentive.com or email info@ficentive.com.

FiCentive is a wholly owned subsidiary of Payment Data Systems, Inc.

Apple and Apple Pay are trademarks of Apple (NASDAQ:AAPL).

Issuer Statements
The Akimbo Prepaid MasterCard® and Akimbo Gift MasterCard® are issued by Sunrise Banks N.A., St. Paul, MN 55103, Member FDIC, pursuant to a license from MasterCard International Incorporated. The Akimbo Gift MasterCard and the Akimbo Prepaid MasterCard are marketed and administered by FiCentive, Inc. (NASDAQ:PYDS). FiCentive, Inc. is a registered agent of Sunrise Banks N.A.

About Sunrise Banks, N.A.
Sunrise Banks, N.A., based in St. Paul, Minnesota, seeks to radically change the way urban communities and underserved people thrive by empowering them to achieve their aspirations. Sunrise is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation given to approximately 109 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values and is a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Visit Sunrise Banks at SunriseBanks.com, on Twitter @SunriseBanks, or on Facebook. Sunrise Banks is Member FDIC.

FORWARD-LOOKING STATEMENTS DISCLAIMER
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.

Investor Contact: Julie MacMedan Elizabeth Brossy Financial Profiles PYDS@finprofiles.com

Source:Payment Data Systems, Inc.