SAN ANTONIO, Oct. 16, 2013 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider announced today that it is experiencing high growth in transactions processed.
September 2013's electronic check transaction volumes were up 79% and returned check transactions were up 1646% as compared to August 2013.
Total dollars processed for September set a new record for the company by exceeding $29,500,000.
As of yesterday, the company's transaction totals have continued the trend of high growth. With about half of the month remaining, October 2013's electronic check transaction volumes were already up 86% and returned check transactions were up 336% as compared to September 2013. We estimate that we will more than double September's record and exceed $70,000,000 dollars in transactions in October 2013 and set a new company record for dollars processed in a month.
Michael Long, CEO, said, "We are excited about the growth in transactions we are currently experiencing. These increases started in the last few weeks of the third quarter through the growth in new customers. We believe this is a positive trend and look forward to the resulting positive growth in our financial metrics for the fourth quarter of 2013."
Our third quarter earnings are anticipated being released in our 10Q on or about November 14, 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.
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://rs6.net/tn.jsp?t=xllc96bab.0.pehfh7n6.hgz958n6.172&ts=S0231&p=http%3A%2F%2Fwww.paymentdata.com">http://www.paymentdata.com, www.ficentive.com, www.zbill.com
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