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Usio’s Innovative and Proprietary Card Issuing Platform Helps Accelerate Exclusive Partner MoviePass’ U.S. Expansion
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Usio, Inc. (NASDAQ: USIO) has announced the expansion of its partnership with MoviePass, now operational in nine cities due to increased demand for the MoviePass Debit card. The partnership has signed over 25 exhibitor partners, indicating significant market penetration. CEO Louis Hoch highlighted that nearly 800,000 beta clients registered within five days, showcasing the brand's strong appeal. MoviePass plans further city expansions to meet customer interest. The partnership leverages Usio's advanced prepaid card technology, enhancing funding control and user experience. This strategic growth reflects Usio's commitment to innovative payment solutions.
Positive
Expansion of MoviePass operations from three to nine cities.
Significant demand with 800,000 beta clients registered in five days.
Over 25 exhibitor partners signed, indicating strong market presence.
Use of innovative prepaid card technology enhances funding control.
Negative
None.
Movie Pass now live in nine cities and continues to expand after completing latest funding round
SAN ANTONIO--(BUSINESS WIRE)--
Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated electronic payment solutions provider, today announced their exclusive partner, MoviePass, which leverages Usio’s innovative and proprietary prepaid card issuing platform and unique external authorization engine to fund transactions for the MoviePass Debit card, has seen increasingly higher demand across the country, thus increasing market penetration from three cities to nine cities across the United States and inking strategic deals with over 25 exhibitor partners nationwide.
Louis Hoch, President and Chief Executive Officer of Usio, said, “We had no idea of the power that MoviePass’s brand held until we witnessed MoviePass signing up almost 800,000 beta clients in five days and believe that demand will not stop there. Stacy and his leadership team have generated so much interest from people across the country that they’ve had to increase the number of cities in which MoviePass will initially launch from three to nine. We’re extremely pleased to serve them and their card holders with the most innovative prepaid card issuing technology on the market, specifically our external authorization capability, allowing 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.”
“Due to the increasing demand for our platform and as fans across the country return to the movies, we’re continuing to add new cities across the U.S. on a regular basis, including Atlanta, Chicago, Dallas, Houston, Indianapolis, Kansas City, Oklahoma City and Tampa Bay. When demand increases, so does the workload. That’s why it is vitally important for MoviePass to have partners like Usio who can afford us the best opportunity to scale, through their technology as well as their customer service and success teams, to deliver an incredible user experience on our platform,” commented Stacy Spikes, Co-Founder and Chief Executive Officer of MoviePass. “Without Usio, we wouldn’t be able to continually add new cities to our launch list and have the competitive advantage we do in the marketplace.”
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.
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.
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.
