SAN ANTONIO, Texas, Jan. 17, 2013 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider announced today that each payment processing business unit achieved all-time records for transactions processing in 2012.
2012 Annual Processing Results
2012's ACH (electronic check) processing volumes were the highest in the history of the company. The year's ACH transaction volumes were up more than 142% as compared to 2011.
Credit card processing volumes for all of 2012 were also the highest in the history of the company. Credit cards dollars processed during 2012 were up 21% over 2011.
FiCentive, our prepaid card processing subsidiary, issued a record number of prepaid cards in 2012. FiCentive issued 1,974% more cards in 2012 as compared to 2011.
Michael Long, CEO, said, "Last year was tremendous for us. Our 2012 ACH processing volumes and credit card processing volumes both set all-time records. We also experienced significant growth in our prepaid card issuance and processing through our wholly owned subsidiary, FiCentive, Inc. This growth has led to a dramatic, positive increase in revenues, gross profit, operating income and net income for the year. We look forward to reporting record earnings for 2012 and we intend to pursue our goal of achieving a listing on a major board such the NYSE MKT during 2013."
Our annual earnings for 2012 are anticipated being released in our 10K annual report on or about March 29, 2013.
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.