Usio Selected by Emphasys Software to Offer Best-in-Class Public Housing Authority Tenant Payment Solution

Rhea-AI Summary

Usio has partnered with Emphasys Software to launch MyTenantPayments, a portal for over 200 Public Housing Authorities (PHAs) to process approximately $800 million in annual tenant payments. The initiative responds to the demand for reducing in-person payment methods, especially amid the COVID-19 pandemic. The platform enables electronic payments via ACH, credit, and debit cards, enhancing cash flow and reducing costs. This partnership is expected to increase transaction volume as more PHAs migrate to Usio's platform, leveraging its proprietary Payfac technology.

Positive

• Partnership with Emphasys to launch MyTenantPayments portal for PHAs.
• Targets $800 million in annual tenant receivables, indicating significant market potential.
• Offers electronic payment solutions, improving cash flow and reducing costs for PHAs.
• Successful beta testing phase allows for future increases in transaction volume.

Negative

• None.

Emphasys Leveraging Usio’s Proprietary Payfac Technology to Offer Tenants Opportunity to More Safely Process $800 Million in Annual Tenant Payments

SAN ANTONIO, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Usio (Nasdaq: USIO), a tech-enabled payment solutions provider, announced today that Emphasys Software, a leading provider of software solutions to public housing authorities (PHAs), housing finance agencies, local governments and financial lenders, has partnered with Usio to create MyTenantPayments, a new portal that will service Emphasys’ over 200 PHAs.

“Due to the COVID-19 pandemic, we have seen an expressed desire from many of the PHA’s we serve to eliminate, as much as possible, the in-person acceptance of paper checks and card payments. The MyTenantPayments portal allows Emphasys to offer an online payment solution to our 200+ Public Housing Authority customers who process about $800 million in annual tenant receivables,” said Larry Huckle, VP of Sales and Marketing at Emphasys Software. He continued, “We have created an integrated and electronic processing infrastructure inside of the Emphasys software that can handle both card and ACH payments, affording tenants the ability to easily and conveniently remit payments. MyTenantPayments solves for these challenges and completely mitigates in-person payments by providing PHA’s the ability to collect tenant payments electronically via various payment methods, including ACH (eCheck), credit and debit card. We’re confident PHAs will embrace the technology of MyTenantPayments as accepting payments electronically improves cash flows, eliminates the manual processes of receiving and depositing paper checks, and reduces costs overall.”

Commenting on the partnership, Greg Carter, Senior Vice President of Payment Facilitation at Usio, said, “Utilizing our proprietary Payfac-in-a-Box^TM technology, Emphasys will now offer a truly integrated payments functionality that will benefit PHAs, tenants, landlords, vendors, and the network of related entities associated with supporting affordable housing. With the beta testing phase successfully completed, we will now begin to migrate additional PHA’s onto our platform, which should lead to increased transactions and volume over the coming months. This is an exciting opportunity for Usio to further penetrate a large and growing vertical market where we are establishing a strong foundation.”

About Emphasys Software

As a pioneer of enterprise software for public housing authorities, Emphasys has set the standard for innovative compliance-based business solutions since 1976. Emphasys’ software is used to help manage and house nearly one million families through over 200 of the nation’s leading and many of the nation’s largest public housing authorities using our technology. Emphasys offers a complete suite of enterprise software applications with service and support that automates business processes efficiently and effectively.

Website: http://www.emphasys-software.com/. Find us on Facebook®, LinkedIn®, and Twitter®.

About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, 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 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 Franklin, Tennessee, just outside of Nashville.

Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com, and www.ficentive.com. Find us on Facebook® and Twitter.

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
Investor Relations:                
Joe Hassett                
Gregory FCA
joeh@gregoryfca.com
484-686-6600

FAQ

What is the MyTenantPayments portal by Usio?

MyTenantPayments is a new electronic payment portal developed by Usio in partnership with Emphasys Software to facilitate tenant payments for over 200 Public Housing Authorities.

How much annual tenant payments will the MyTenantPayments portal process?

The MyTenantPayments portal will service approximately $800 million in annual tenant receivables.

What payment methods does MyTenantPayments support?

MyTenantPayments supports various payment methods, including ACH (eCheck), credit, and debit cards.

What technology is Usio leveraging for this partnership?

Usio is utilizing its proprietary Payfac technology to integrate payments functionality for Emphasys.

When will the additional PHAs be migrated onto Usio's platform?

The migration of additional PHAs onto Usio's platform will begin following the successful completion of the beta testing phase.