Payment Data Systems, an integrated electronic payments solutions provider announced that October 2011 set another record for the number of transactions processed by the company.
October’s ACH (electronic check) processing volumes were the highest in the history of the company. The month’s ACH transaction volumes were up 53% and ACH returned check transactions were up 86% compared to September of 2011.
Michael Long, CEO, said, “The transactions processed in October are 72% of the volume processed during the entire third quarter of 2011 and returned check processing was 44% in the same comparison. We have started off the fourth quarter continuing the exceptional growth that was created in the third quarter. While we are excited to report record earnings for the 3rd quarter, the 4th quarter could be a dramatic increase over the record that we set in the 3rd quarter as we find that December has always been our best processing month for credit cards since we have a high number of charitable organizations.”
Third quarter 2011 earnings are anticipated to be released on or about November 15, 2011.
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.