Payment Data Systems, Inc. (NASDAQ:PYDS)
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Payment Data Systems Projects Record 2nd Quarter Revenue
- 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:PYDS) (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
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.
DATASOURCE: Payment Data Systems, Inc.
CONTACT: investor relations, Michael Long of Payment Data Systems, Inc.,
+1-210-249-4040, or
Web site: http://www.paymentdata.com/
http://www.bills.com/