MoviePass Selects Usio as Exclusive Prepaid Card Issuing Solution, Program Manager and Processor

Rhea-AI Summary

Usio, Inc. (NASDAQ: USIO) has entered an exclusive partnership with MoviePass to launch a branded MoviePass Debit Card for subscribers. Usio's prepaid card issuing platform will manage this program, enhancing the user experience with immediate funding capabilities when movie credits are redeemed. Louis Hoch, Usio's President, emphasizes the company's technological edge in the electronic payments sector. MoviePass co-founder Stacy Spikes stated that this collaboration offers a competitive advantage. Usio has a history of support for MoviePass, having previously invested in the company.

Positive

• Exclusive partnership with MoviePass enhances growth prospects.
• Introduction of a branded MoviePass Debit Card adds a new revenue stream.
• Usio's technology allows for immediate funding of prepaid cards, improving user experience.

Negative

• None.

Partnership Will Include a Branded MoviePass Debit Card for All Subscribers

SAN ANTONIO--(BUSINESS WIRE)-- Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated electronic payment solutions provider, today announced an exclusive partnership with MoviePass, whereby Usio’s innovative and proprietary prepaid card issuing platform will serve as both Program Manager and Processor for the forthcoming MoviePass Debit Card it plans to issue to all subscribers.

Louis Hoch, President and Chief Executive Officer of Usio, said, “Usio continues to present itself as a leading provider of electronic payments technology, including our prepaid card issuing platform, that serve a variety of use cases in a number of different industries. We are thrilled that MoviePass has chosen Usio to support their efforts to bring a branded MoviePass Debit Card to their subscriber base. Our unique external authorization capability will allow MoviePass to fund prepaid cards the moment a customer redeems credits for a movie within the MoviePass ecosystem, allowing for greater funding control and spend management.”

“Usio’s innovative technology is precisely what MoviePass needs in order to deliver a seamless user experience on our platform,” commented Stacy Spikes, Co-Founder and Chief Executive Officer of MoviePass. “Having Usio as an exclusive partner gives us a competitive advantage in the marketplace.”

“Usio has been a long-standing supporter of Stacy and MoviePass, having made an angel investment in the business a few years ago,” Hoch concluded. “These are exciting times for MoviePass. We are pleased Stacy and his team recognize the breadth of our technology and chose Usio to power this vitally important aspect of their business.”

About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, crypto exchanges, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. 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.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook^® and Twitter.

About MoviePass, Inc.
MoviePass is a marketing technology platform enhancing the exploration of film and the moviegoing experience. Started in 2011, MoviePass quickly became the nation's premier movie-theater subscription service, providing film enthusiasts the ability to attend select new movies in theaters across the United States.

Website: www.moviepass.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 such risks related to an economic downturn as a result of the COVID-19 pandemic, the realization of 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, 2021. 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. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005092/en/

Paul Manley, Senior Vice President of Investor Relations

Email: paul.manley@usio.com

Telephone: 612.834.1804

Source: Usio, Inc.

FAQ

What is the recent partnership announced by Usio?

Usio has partnered with MoviePass to launch a branded MoviePass Debit Card for subscribers.

How will Usio support MoviePass with their debit card?

Usio will manage and process the prepaid debit card program for MoviePass, enabling immediate funding when movie credits are redeemed.

What benefits does the partnership offer to MoviePass subscribers?

The partnership will provide subscribers with a seamless user experience through quick funding and spend management.

What is the ticker symbol for Usio?

The ticker symbol for Usio is USIO.

Who commented on Usio's technology and its impact on MoviePass?

Stacy Spikes, the co-founder of MoviePass, praised Usio's technology for enhancing the user experience.