Usio, Inc. Chosen by ClassWallet to Process ACH Payments and Power Digital Payments Disbursement Programs
Usio, Inc. (NASDAQ:USIO) has announced an expanded partnership with ClassWallet, integrating Usio's ACH processing and remote authorization technology into ClassWallet's digital wallet platform. This collaboration enhances ClassWallet's ability to offer innovative payment solutions for public funds disbursement.
The partnership allows ClassWallet to accelerate innovation and bring new products to market faster. It also improves the payment process for ClassWallet's service provider vendors, leading to more efficient and predictable payments. Additionally, the integration provides ClassWallet with valuable data that can be used by agency customers to better understand and improve program outcomes.
Both companies view this expansion as mutually beneficial, with Usio supporting ClassWallet's growth objectives and ClassWallet furthering its mission to maximize program efficiency for public fund recipients.
Usio, Inc. (NASDAQ:USIO) ha annunciato una partnership ampliata con ClassWallet, integrando la tecnologia di elaborazione ACH e autorizzazione remota di Usio nella piattaforma di portafoglio digitale di ClassWallet. Questa collaborazione potenzia la capacità di ClassWallet di offrire soluzioni di pagamento innovative per la distribuzione di fondi pubblici.
La partnership consente a ClassWallet di accelerare l'innovazione e portare più rapidamente nuovi prodotti sul mercato. Migliora anche il processo di pagamento per i fornitori di servizi di ClassWallet, portando a pagamenti più efficienti e prevedibili. Inoltre, l'integrazione fornisce a ClassWallet dati preziosi che possono essere utilizzati dai clienti agenziali per comprendere meglio e migliorare i risultati dei programmi.
Entrambe le aziende vedono questa espansione come reciprocamente vantaggiosa, con Usio che supporta gli obiettivi di crescita di ClassWallet e ClassWallet che promuove la sua missione di massimizzare l'efficienza dei programmi per i destinatari di fondi pubblici.
Usio, Inc. (NASDAQ:USIO) ha anunciado una asociación ampliada con ClassWallet, integrando la tecnología de procesamiento ACH y autorización remota de Usio en la plataforma de billetera digital de ClassWallet. Esta colaboración mejora la capacidad de ClassWallet para ofrecer soluciones de pago innovadoras para la distribución de fondos públicos.
La asociación permite a ClassWallet acelerar la innovación y llevar nuevos productos al mercado más rápidamente. También mejora el proceso de pago para los proveedores de servicios de ClassWallet, lo que conduce a pagos más eficientes y predecibles. Además, la integración proporciona a ClassWallet datos valiosos que pueden ser utilizados por los clientes de la agencia para comprender mejor y mejorar los resultados de los programas.
Ambas empresas consideran esta expansión como mutuamente beneficiosa, con Usio apoyando los objetivos de crecimiento de ClassWallet y ClassWallet avanzando en su misión de maximizar la eficiencia del programa para los destinatarios de fondos públicos.
Usio, Inc. (NASDAQ:USIO)는 ClassWallet과의 파트너십을 확대하고 Usio의 ACH 처리 및 원격 승인 기술을 ClassWallet의 디지털 지갑 플랫폼에 통합한다고 발표했습니다. 이번 협력은 ClassWallet이 공공 자금 배분을 위한 혁신적인 결제 솔루션을 제공할 수 있는 능력을 강화합니다.
이번 파트너십은 ClassWallet이 혁신을 가속화하고 새로운 제품을 더 빨리 시장에 출시할 수 있도록 합니다. 또한 ClassWallet의 서비스 제공업체 공급자에게 결제 프로세스를 개선하여 더 효율적이고 예측 가능한 결제를 이끌어냅니다. 더불어, 통합은 ClassWallet에 기관 고객이 프로그램 결과를 더 잘 이해하고 개선하는 데 사용할 수 있는 귀중한 데이터를 제공합니다.
양사는 이번 확장을 상호 이익이 되는 것으로 보고 있으며, Usio는 ClassWallet의 성장 목표를 지원하고 ClassWallet은 공공 자금 수령인을 위한 프로그램 효율성을 극대화하는 사명을 추진하고 있습니다.
Usio, Inc. (NASDAQ:USIO) a annoncé un partenariat élargi avec ClassWallet, intégrant la technologie de traitement ACH et d'autorisation à distance d'Usio dans la plateforme de portefeuille numérique de ClassWallet. Cette collaboration améliore la capacité de ClassWallet à offrir des solutions de paiement innovantes pour la distribution de fonds publics.
Le partenariat permet à ClassWallet de accélérer l'innovation et de commercialiser de nouveaux produits plus rapidement. Il améliore également le processus de paiement pour les fournisseurs de services de ClassWallet, ce qui aboutit à des paiements plus efficaces et prévisibles. De plus, l'intégration fournit à ClassWallet des données précieuses que les clients des agences peuvent utiliser pour mieux comprendre et améliorer les résultats des programmes.
Les deux entreprises considèrent cette expansion comme mutuellement bénéfique, Usio soutenant les objectifs de croissance de ClassWallet et ClassWallet avançant dans sa mission de maximiser l'efficacité des programmes pour les bénéficiaires de fonds publics.
Usio, Inc. (NASDAQ:USIO) hat eine erweiterte Partnerschaft mit ClassWallet angekündigt, indem Usios ACH-Verarbeitung und Remote-Autorisierungstechnologie in die digitale Wallet-Plattform von ClassWallet integriert werden. Diese Zusammenarbeit verstärkt die Fähigkeit von ClassWallet, innovativen Zahlungs Lösungen zur Auszahlung öffentlicher Mittel anzubieten.
Die Partnerschaft ermöglicht es ClassWallet, Innovation zu beschleunigen und neue Produkte schneller auf den Markt zu bringen. Sie verbessert auch den Zahlungsprozess für die Dienstleister von ClassWallet, was zu effizienteren und vorhersehbaren Zahlungen führt. Darüber hinaus liefert die Integration ClassWallet wertvolle Daten, die von Agenturkunden verwendet werden können, um Programm Ergebnisse besser zu verstehen und zu verbessern.
Beide Unternehmen betrachten diese Expansion als gegenseitig vorteilhaft, wobei Usio die Wachstumsziele von ClassWallet unterstützt und ClassWallet seine Mission vorantreibt, die Programmeffizienz für Empfänger öffentlicher Mittel zu maximieren.
- Expansion of partnership with ClassWallet, a leading platform for public funds disbursement
- Integration of Usio's ACH processing and remote authorization technology into ClassWallet's platform
- Potential for accelerated innovation and faster product development for ClassWallet
- Improved payment process efficiency for ClassWallet's service provider vendors
- Access to valuable data for ClassWallet's agency customers to improve program outcomes
- None.
Insights
This partnership expansion between Usio and ClassWallet is a significant development in the fintech sector, particularly for fund disbursement and digital wallet solutions. The integration of Usio's ACH processing and remote authorization technology into ClassWallet's platform enhances their ability to serve public sector clients efficiently.
Key points to consider:
- The expanded partnership allows ClassWallet to offer more comprehensive payment solutions, potentially increasing their market share in the public funds management space.
- For Usio, this represents a deepening of an existing relationship, which could lead to increased transaction volume and revenue streams.
- The addition of data mining capabilities for ClassWallet's agency customers adds value to their offering, potentially improving client retention and attracting new customers.
While this news is positive for both companies, the impact on Usio's stock may be in the short term, given its relatively small market cap of
This partnership expansion has several implications for both Usio and the broader market:
- It demonstrates a growing trend towards digitalization of public fund management, which could open up new market opportunities for fintech companies.
- The integration of ACH processing and remote authorization into digital wallet platforms suggests a convergence of various payment technologies, potentially setting a new standard in the industry.
- ClassWallet's ability to offer data mining capabilities to its agency customers aligns with the increasing demand for data-driven decision-making in the public sector.
For investors, this development signals Usio's competitive positioning in the fintech space, particularly in serving government and educational institutions. The company's ability to provide tailored solutions for complex fund disbursement needs could be a differentiator in a crowded market. However, it's important to note that the full financial impact of this partnership may take time to materialize and should be monitored over the coming quarters.
Usio’s Proprietary ACH Processing and Remote Authorization Technology Continues to Provide Innovative Solutions to a Host of Fund Disbursement Needs
SAN ANTONIO, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Usio, Inc. (NASDAQ:USIO), a leading FinTech company that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions, today announced the continued expansion of its partnership with ClassWallet, the leading purchasing and reimbursement platform for public funds.
“Usio and ClassWallet’s strong partnership continues to create innovative new solutions for an ever-widening array of prepaid and funds disbursement applications,” said Houston Frost, Usio’s Chief Product Officer. “Building on their existing integration of our electronic payments technology, ClassWallet is now adding industry-leading ACH and proprietary remote authorization capabilities into its digital wallet technology platform. These new solutions address the need to both offer a robust payments platform and enable the building of innovative payment solutions demanded by its customers. We are extremely pleased to provide an integral element of ClassWallet’s various digital electronic payments solutions, and we look forward to supporting their growth objectives.”
The partnership creates a comprehensive ecosystem of payments technology ClassWallet can use to accelerate the pace of innovation to bring new products to market. The partnership also enhances the payment process for ClassWallet’s service provider vendors, resulting in efficiencies for more predictable and faster vendor payments.
Jamie Rosenberg, ClassWallet founder and CEO, noted that the expanded partnership also provides ClassWallet with a wealth of data. This data can be mined by ClassWallet’s agency customers to better understand program outcomes so that these agencies can improve the impact of their programs on the people they serve.
“Our partnership with Usio helps further the ClassWallet mission, and creates opportunities for everyone involved, most importantly our clients and end users,” Rosenberg said. “Together, we are presenting ClassWallet client organizations with secure, digital wallet innovation that unlocks the full potential of these public funds and maximizes program efficiency and outcomes for all recipients.”
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), is a leading Fintech that operates a full stack of proprietary, cloud-based integrated payment and embedded financial solutions in a single ecosystem to a wide range of merchants, billers, banks, service bureaus and card issuers. The Company operates credit/debit and ACH payment processing platforms, as well as a turn-key card issuing platform 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 a development office in Austin, Texas.
Websites: www.usio.com , www.akimbocard.com and www.usiooutput.com. Find us on LinkedIn, Facebook® and Twitter.
About ClassWallet
ClassWallet is the leading digital wallet for public funds. A pioneer in financial and government technology, ClassWallet's technology is used by public agencies across 35 states to maximize the positive impact of public funding on people’s lives. Since 2014, the ClassWallet platform has been used to deliver more than
Company Contact
Paul Manley
Senior Vice President, Investor Relations
Paul.Manley@usio.com
612-834-1804
FAQ
What new technology is Usio providing to ClassWallet in their expanded partnership?
How will the expanded partnership between Usio (USIO) and ClassWallet benefit ClassWallet's vendors?
What advantages does the Usio (USIO) and ClassWallet partnership offer to agency customers?
How does the expanded partnership align with ClassWallet's mission according to their CEO?
