Payment Data Systems, Inc., an integrated electronic payments solutions provider, announced that its credit card dollar volume processed in August was its highest for any month to date and surpassed July’s volume by 17%. On an unaudited basis, our dollar volume for August rose 57% from the August 2006 level. Based on September processing levels for the first ten days of the month, we project that our volume for the third quarter will also set a record for the highest volume of processing in any quarterly period.
Michael Long, CEO, commented, “We continue to see the third quarter building on the momentum generated in our record second quarter and anticipate that the overall trend of increasing credit card volume will keep us on pace for another volume record for dollars processed in a quarter and the year and record revenues for the year. We are thrilled that we have already exceeded all of last year’s credit card dollar volume with four months left in the year.”
About Payment Data Systems, Inc.
Payment Data Systems, Inc. is an integrated provider of world class electronic payment solutions to merchants, billers, banks, service bureaus, and credit and stored-value card issuers. PDS specifically tailored solutions manage critical points along the full spectrum of the transactional chain, ranging from card issuance to payment acceptance to electronic bill payment.
Payment Data is the owner of the electronic bill payment portal, www.billx.com, which has the ability to transmit payments to thousands of national billers.
Payment Data holds the exclusive license to market the Natalie Gulbis Gift MasterCard (www.nataliegulbismastercard.com), the Carmen Electra Gift MasterCard (www.electragift.com) and the Carmen Electra Prepaid MasterCard (www.carmencard.com).
Payment Data Systems Inc. (OTCBB:PYDS) is a registered ISO/MSP of MetaBank and a registered ISO/MSP and TPS/TPP of Merrick Bank Corp., South Jordan, UT.
Payment Data is a Level One PCI compliant Third Party Servicer.
Payment Data’s intellectual property includes U.S. Patent Number 7,021,530 that relates to bill payments made with debit and stored value cards.