Total Dollars processed of $2.1 billion in the third quarter of 2021, up 141% from year ago third quarter
Total Dollars Processed Year-to-Date $6.7 Billion
Usio, Inc.wq, a Fintech integrated electronic payment solutions provider, reported record transactions and processing volume for the third quarter of 2021.
Louis Hoch, President and Chief Executive Officer of Usio, said, “Third quarter total dollars processed were up 141% from $852 million processed in the third quarter of 2020. Both Credit Card dollars and transactions processed for the third quarter set an all-time record, led by an increase in PayFac volume while total dollars loaded on prepaid cards exceeded $57 million, a new quarterly record. These results illustrate the value of our payment channel diversification strategy as we experienced a small, sequential downturn in ACH growth this quarter as expected. This strategy has led to strong results over this past year and is expected to continue to power our results. Furthermore, we expect this strategy should cause us to report record revenues for the third quarter and continued generation of positive cash flow.”
| Third Quarter 2021 Processing Results | |
| Card Processing, Including PayFac | |
| vQ3 20 | |
| Credit Card Dollars Processed | + 43% |
| Credit Card Transactions Processed | + 76% |
| Prepaid | |
| vQ3 20 | |
| Prepaid Card Load Volume | + 2% |
| Prepaid Card Transaction Volume | + 115% |
| Prepaid Card Purchase Volume | + 18% |
| ACH | |
| vQ3 20 | |
| Electronic Check Transaction Volume | + 86% |
| Returned Check Transactions Processed | + 100% |
| Electronic Check Dollars Processed | + 182% |
| Total Dollars processed in the third quarter of 2021 were $2.1 billion. | |
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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 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.
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