- PDS Continues on Path of Sustained Record Growth -
SAN ANTONIO, July 25 /PRNewswire-FirstCall/ -- In review of the
transaction volumes processed during the second quarter of 2005, Payment Data
Systems, Inc. (OTC Bulletin Board: PYDS) is able to project that it will show
a continuation of record reported revenue for the quarter ended June 30, 2005.
In addition, both the credit card transaction and dollar value volumes for
June will show as our highest processing month to date.
Commenting on the increase in processing volume, Michael R. Long, Chairman
and Chief Executive Officer of Payment Data Systems, said, "We are pleased to
report that our credit card transaction and dollar volume growth for the
second quarter of 2005 is trending upwards of 26% for transactions and up 29%
in dollar volume above the first quarter of 2005. Also, our customer base
continues to grow in numbers as well as relative size per account. We have
grown to over 80 customers today."
Long added, "Revenue generated by our merchant customers continues to
contribute significantly to our overall numbers. However, we are monitoring a
shift in our business and it is possible that higher margin stored-value cards
could overtake that number within the next year. Of course, both product
lines remain strategic in their value proposition to our customers and in our
revenue development."
Long continued, "Perhaps one of the more satisfying aspects of our
business is that our larger and more complex customers are seeing the value
and depth of our solutions and are adding on additional services from PDS."
About Payment Data Systems, Inc.
Payment Data Systems, Inc., is an Integrated Payments Solution Provider
delivering comprehensive, cost-effective solutions to billers and retailers
for the processing and management of electronic payments via the Internet,
point of sale, or payments taken by Customer Service Representatives or an
Interactive Voice Response (IVR).
Additional products available from PDS include services and products that
can be implemented more quickly and less expensively than the alternative of
adding multiple payments companies as these solutions offer a full range of
payment processing capabilities. These service offerings include: one time
and recurring ACH debits and credits, electronic lockbox and returned check
services, Web pay acceptance of credit cards and checks, telephone pay to
Customer Service Representatives for acceptance of credit cards and checks,
Interactive Voice Response systems which completely automate the payment
receiving process, and data warehousing that enable the storage and retrieval
of all payment history from one location.
These are all managed within a single comprehensive storage and retrieval
system thereby providing the customer consolidated tracking and reporting of
all payment types regardless of source or channel.
Payment Data is the owner of the electronic bill payment portal,
http://www.bills.com . Bills.com has the ability to transmit electronic
payments to thousands of national billers.
For additional information, visit http://www.paymentdata.com . Contact
Michael Long for Investor Relations information at 210.249.4040 or email at
ir@paymentdata.com
FORWARD-LOOKING STATEMENTS DISCLAIMER
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.
SOURCE Payment Data Systems, Inc.
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Related links:
http://www.paymentdata.com
http://www.bills.com
CONTACT:
investor relations, Michael Long of Payment
Data Systems, Inc., +1-210-249-4040, or ir@paymentdata.com
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