Community Cares Partners and Usio Deliver Much Needed Aid to almost 6,000 Oklahomans

Rhea-AI Summary

Usio, Inc. (Nasdaq: USIO) announced that Community Cares Partners (CCP) in Oklahoma has selected Usio's Prepaid Debit Card platform, Akimbo, to distribute CARES Act funds efficiently to nearly 6,000 residents. This partnership exemplifies Usio's leadership in electronic payment solutions, with over 100 organizations utilizing their technology. CCP highlighted the convenience of Usio’s cards, facilitating quick fund disbursement for families facing housing crises due to the COVID-19 pandemic. This initiative showcases the positive impact of community-focused financial solutions.

Positive

• CCP selected Usio's Prepaid Debit Card for efficient fund distribution, enhancing Usio's market reputation.
• The initiative benefits about 6,000 residents facing housing crises, demonstrating the real-world impact of Usio's products.
• Usio has over 100 similar implementations, indicating strong demand and trust in their prepaid solutions.

Negative

• None.

Mastercard Accelerator for America Grant Recipient Chooses Usio Prepaid Debit Card Platform, Akimbo, as Best and Most Effective Means to Distribute Funds Quickly and Efficiently

SAN ANTONIO, March 16, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, announced today that Community Cares Partners in Oklahoma (“CCP”) has chosen Usio’s Prepaid Debit Card as its payment solution to disburse its CARES Act and related funds to almost 6,000 Oklahoma residents. Community Cares Partners is funded in part by Mastercard’s Accelerator for America program.

Louis Hoch, President and Chief Executive Officer of Usio, said, “We are pleased that Community Cares Partners chose Usio’s Prepaid Debit Card, Akimbo, to disburse funds to those facing housing crisis, eviction or other financial adversities as a result of lost wages or hardships brought about as a result of the COVID-19 pandemic. CCP is another example of how community organizations have recognized that our prepaid solutions provide the flexibility they need to overcome the challenge of disbursing and monitoring their funds. Usio has become a leader in this field, with over 100 similar organizations across the United States integrating our card issuing technology into their programs. We appreciate CCP’s confidence in our ability to serve as their electronic payments partner.”

Ginny Bass Carl, Executive Director at CCP commented, "Usio’s prepaid debit cards offered significant advantages compared to other means to disburse funds. Our clients found them very easy to use. For CCP, due to time constraints and logistics, we realized that utilizing the debit card would enable us to disburse funds more quickly and efficiently. To date, we have delivered funds to almost 6,000 Oklahoma residents. We are extremely grateful to Usio and our other partners for supporting a program that benefits thousands of local residents.”

Several heartwarming stories have come to light because of the efforts of CCP. Most notably, the story of a young mother who had been evicted from her home and had no furniture was able to buy beds for her twin boys. Additionally, a woman sold her vehicle to help pay bills was able to go to job interviews because the funds provided on the Prepaid card were used for Uber rides. These are just two examples of how these funds were able to help those in need.

Houston Frost, Senior Vice President of Corporate Development and Prepaid Products, added, “We are honored to have been chosen as the prepaid card solution supporting CCP’s important community mission. Community, civic, social and governmental organizations actively providing financial aid to those in their communities suffering most as a result of the hardships precipitated by the pandemic need a simple, easy-to-use solution to get funds disbursed quickly and efficiently. With over 100 successful implementations of our customized and innovative prepaid solutions, we are dedicated to helping organizations such as CCP in their efforts to improve the lives of the communities they serve.”

About Community CARES Partners
Community Cares Partners (CCP) is making a difference for Oklahomans by assisting households and families facing housing crisis and eviction as a result of lost wages or hardships from COVID-19. A public/private partnership, CCP distributes CARES funds to help our neighbors maintain housing stability. Community Cares Partners operates as a program of Communities Foundation of Oklahoma. Funding through the City of Oklahoma City, Oklahoma County, Cleveland County, the State of Oklahoma, as well as generous gifts from the Inasmuch Foundation and Flourish OKC, enable CCP to meet the needs of our clients and partners.

About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading FinTech and integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, leading FinTech and non-bank lenders, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to its clients. The strength of the Company is its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector and its ability to provide and execute on its service commitments. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas, and Franklin, Tennessee, just outside of Nashville. Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com.

FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as "believe," "intend," "look forward," "anticipate," "schedule,” and "expect" among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including risks related to the COVID-19 pandemic and its effect on the economy, risks related to the realization of the anticipated opportunities from the IMS acquisition, the management of the Company's growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2019. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes 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 the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

Contact:
Joe Hassett, Investor Relations
joeh@gregoryfca.com
610-228-2110

FAQ

What is the partnership between Usio and Community Cares Partners?

Usio partnered with Community Cares Partners to provide prepaid debit cards for distributing CARES Act funds to residents in need in Oklahoma.

How many residents are benefiting from Usio's Prepaid Debit Card program?

Nearly 6,000 residents are benefiting from the Prepaid Debit Card program in Oklahoma.

What is the significance of Usio's Prepaid Debit Card during the COVID-19 pandemic?

The Prepaid Debit Card offers a fast and effective means for organizations to disburse funds to those experiencing financial hardships due to the pandemic.

What does Usio's selection by Community Cares Partners indicate about its market position?

Usio's selection highlights its reputation as a leader in electronic payment solutions, with over 100 organizations using its card issuing technology.