SAN ANTONIO, Feb. 5, 2015 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCBB:PYDS) (OTCQB:PYDS), an integrated electronic payments solutions provider announced today that it is continuing to experience high growth in transactions processed.
January 2015's electronic check transaction volumes were up 22% and returned check transactions were down 4% as compared to December 2014 and was the best month of electronic check processing in the history of the company.
Total dollars processed for January 2015 set a new record for the company exceeding $302,000,000 and breaking the previous record that was achieved in December 2014.
Credit cards dollars processed during January 2015 were up 9% over the same time period in 2014. Credit cards transactions processed during January 2015 were up 5% over the same time period in 2014.
Michael Long, CEO, said, "We are excited about the early results for the first quarter of 2015.If the trend continues, we should be able to extend the dramatic growth we experienced in the fourth quarter of 2014 into the first quarter of 2015. Also, we believe that we will continue to experience high growth in transactions processed and associated revenues and income for current year. 2015 should be an exciting year for our company."
Mr. Long continued, "I am pleased to announce that we have already achieved all the financial metrics required for an up-listing to NYSE market. We will file our application for listing with the NYSE shortly after filing our 2014 10K annual report. We will file the annual report on or before March 30th, 2015. We continue to believe our stock is undervalued and is trading below valuation multiples that our industry receives."
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.
For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at ir@paymentdata.com.
Website: http://www.paymentdata.com, www.ficentive.com, www.zbill.com
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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.