Usio Reports Record Second Quarter Electronic Payments Transaction and Processing Volume

Rhea-AI Summary

Usio, Inc. (Nasdaq: USIO) reported a record $2.73 billion in total dollars processed for Q2 2021, a 47% increase from Q1. This marks the company's third consecutive quarter of record electronic payments, with significant growth in ACH electronic check dollars, which nearly quadrupled. Card and prepaid processing volumes also saw impressive gains, with card processing dollars up 55% and prepaid card load volume up 65% year-over-year. The company attributes its growth to investments in its PayFac platform and a focus on fast-growing markets like cryptocurrency.

Positive

• Record total dollars processed at $2.73 billion for Q2 2021, a 47% increase from Q1 2021.
• ACH electronic check dollars processed increased by almost 400%.
• Credit card transactions processed doubled year-over-year.
• Prepaid card load volume increased by 65%.
• Continued growth in diverse markets including cryptocurrency and FinTech lending.

Negative

• None.

Total Dollars processed in the second quarter of 2021 a record $2.73 billion, up 47% sequentially from previous record first quarter

SAN ANTONIO, July 26, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, today reported record transactions and processing volume for the second quarter of 2021.

Louis Hoch, President and Chief Executive Officer of Usio, said, “This is our third consecutive quarter of record electronic payments and dollar transaction processing volume. ACH electronic check dollars processed almost quadrupled this quarter, while electronic check transactions, return check transactions and card transactions processed all doubled, at least. These results illustrate that we are on a rapid growth trajectory. Our success is built on our strategy to invest in our high growth PayFac platform, target fast growing markets such as cryptocurrency and FinTech lending while maintaining our diversity strategy, and leverage the relationships we’ve developed with over 100 governmental and charitable organizations through our Prepaid card division. The Usio franchise has never been stronger, and we are committed to extending our leadership by continuing to innovate and deliver value to the markets we serve. The company will report record financial metrics for the second quarter of 2021.”

Second Quarter 2021 Processing Results
Card Processing, Including PayFac
		vQ2 20
Credit Card Dollars Processed		+   55%
Credit Card Transactions Processed		+ 100%
Prepaid
		vQ2 20
Prepaid Card Load Volume		+   65%
Prepaid Card Transaction Volume		+   63%
ACH
		vQ2 20
Electronic Check Transaction Volume		+  155%
Returned Check Transactions Processed		+  133%
Electronic Check Dollars Processed		+  397%

More ACH transactions were processed in the second quarter of 2021 than any previous quarter in the company’s history. Total Dollars processed in the second quarter of 2021 were $2.73 billion, topping the previous all-time record of $1.87 billion that was set in first quarter of 2021. Finally, Card Processing, including PayFac, set another all-time record for both transactions and dollars processed.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated 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 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.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," "should,” 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, 2020. 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
484-686-6600

FAQ

What were Usio's processing results for Q2 2021?

Usio reported a record $2.73 billion in total dollars processed for Q2 2021, marking a 47% increase from Q1.

How much did Usio's ACH electronic check processing increase in Q2 2021?

ACH electronic check dollars processed increased by nearly 400% in Q2 2021 year-over-year.

What is Usio's stock symbol?

Usio's stock symbol is USIO.

What is the growth rate of prepaid card transaction volume for Usio in Q2 2021?

Prepaid card transaction volume increased by 63% in Q2 2021 compared to Q2 2020.

How does Usio attribute its recent growth?

Usio attributes its growth to investments in its PayFac platform and targeting fast-growing markets like cryptocurrency and FinTech lending.