QualityStocks would like to highlight Payment Data Systems, Inc. (
OTCQB: PYDS). The company has gained recognition in the industry as a premier solutions provider for all forms of secure payment processing. The company began in 1998 as Billserv. Over the next four years, Billserv became the most successful Electronic Bill Presentment and Payment (EBPP) Company in the industry, having under contract companies that represented approximately 16% of all paper bills produced in the United States. In 2003, the company dedicated itself to providing the industry's most efficient, secure, cost-effective, and integrated payment solutions, based on their extensive knowledge and experience gained by processing over $1.5 billion in annual value of electronic payments and web payment deployment.
In the company’s news,
Payment Data Systems reports that it is experiencing considerable growth in transactions processed.
For the month of November, the company reports an increase of 17 percent in electronic check transaction volumes, as compared to the previous month. In addition, the company reports an increase of 17 percent for returned check transactions, also compared to the previous month.
The company recorded total dollars processed for November at more than $146 million, a new record for the company, beating out the previous record that was achieved in October 2013.
With more than two weeks of the fourth quarter of 2013 remaining, Payment Data Systems reports that the quarter’s electronic check transaction volumes were already up 497 percent and returned check transactions were up 2,334 percent, as compared to the third quarter of 2013.
Management expects that the company will continue to see significant growth throughout the remainder of the year.
“The fourth quarter of 2013 will be our best of the year resulting in dramatic, positive influences to all our financial metrics for the quarter,” Michael Long, CEO of Payment Data Systems stated in the news release. “The significant transaction growth we are experiencing should allow us to record our highest revenue for any quarter of 2013. We are excited about our newly acquired customers and believe the increase in transactions should continue for the foreseeable future and will carry into 2014.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
