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Payment Data Systems Opens Its Digital Card Platform to Businesses & Developers

LAS VEGAS, Oct. 25, 2016 (GLOBE NEWSWIRE) -- Payment solutions provider Payment Data Systems, Inc. (NASDAQ:PYDS) is opening up its fully digital card platform to third party businesses and developers. Attendees of Money20/20, October 23-26 in Las Vegas, are invited to visit the Payment Data Systems booth (#1430) to learn how the cutting-edge technology behind the Akimbo Card can benefit their operations.

Payment Data Systems’ digital card platform is the technology supporting the Akimbo Prepaid MasterCard® and Akimbo Gift MasterCard®. It’s the first of its kind in that it supports real-time provisioning of reloadable prepaid debit cards to mobile wallets, like Apple Pay®.

“For businesses and banks interested in leveraging this technology, Akimbo demonstrates how a customer can sign up for a new account and have a card in their Apple Wallet moments after completing the enrollment process,” said Houston Frost, Senior Vice President of Prepaid Products at Payment Data Systems. “There’s no longer the need to wait for a plastic card to arrive in the mail before being able to use the prepaid account.”

The Akimbo platform also provides instant issuance and real-time delivery of gift and incentive cards. Businesses and consumers can send customizable gift, incentive and reward cards via email or text. While the recipient can still choose to receive a physical card in the mail, they also have the option to receive the card number virtually through a mobile application. The digital card option results in up to 90 percent lower costs due to the elimination of plastic card fulfillment. Additionally, with transaction text alerts, an intuitive mobile application, and mobile wallet support, Akimbo improves upon the customer experience as compared to the traditional “plastic-only” gift card.

“We’re very excited to share what the Akimbo platform can do for businesses, banks, and developers. Whether they’re looking to launch their own prepaid card programs, or just seeking a novel and inexpensive way to send incentives, rewards, and other payments, the Akimbo platform provides capabilities matched by no other provider today,” said Frost.

“We have a number of partners currently implementing our new digital card platform and look to announce those in the near future,” Frost continued.

Money20/20 attendees visiting the Payment Data Systems booth will receive a complimentary $10 digital Akimbo Gift MasterCard.

The Akimbo Card is available on the App Store and Google Play, and can be used with Apple Pay, Android Pay, and Samsung Pay. For more information on Akimbo, please visit: akimbocard.com/business.

ISSUER STATEMENT

The Akimbo Prepaid MasterCard and Akimbo Gift MasterCard are issued by Sunrise Banks NA, Member FDIC, pursuant to a license from MasterCard International.

Apple, App Store and Apple Pay are trademarks and/or service marks of Apple, Inc.

Google Play and Android Pay are trademarks of Google, Inc.

Samsung Pay is a trademark of Samsung Electronics Co, Ltd.

All other brands, products and services, and their respective trademarks, names and logos, are the property of their respective owners.

ABOUT PAYMENT DATA SYSTEMS INC.

Payment Data Systems, Inc. (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 Systems is headquartered in San Antonio, Texas, and has offices in New York, New York; and Long Beach, California. For additional information please visit www.paymentdata.com and www.akimbocard.com. Find us on Facebook®.

ABOUT SUNRISE BANKS

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.

Media Contact: Christopher Ruth Leverage PR Chris@Leverage-PR.com 512.502.5833

Source:Payment Data Systems, Inc.