Benzinga | Feb 1, 2021 09:07AM EST

Usio Announces Transaction Volume Grew 13% From Q3

Record Full Year 2020 Transaction Volume Creates Strong Momentum in New Year



Prepaid transactions more than double, credit card processing transactions nearly double in the fourth quarter

On Pace for Strong Growth in 2021

SAN ANTONIO, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (NASDAQ:USIO), an integrated electronic payment solutions provider, today reported record transactions and processing volume for the fourth quarter of 2020 and record transactions processed for the full year 2020.

Louis Hoch, President and Chief Executive Officer of Usio, said, "Transaction processing volume continues on the strong growth trajectory achieved over the past two years, with the best quarterly performance in the Company's history over the last three months of 2020. In the fourth quarter, prepaid transaction volume more than doubled while credit card transactions processed, including PayFac, nearly doubled. This provides strong momentum as we begin the new year which, together with our recent accretive acquisition of IMS, should generate strong revenue growth in the first quarter and throughout the year. While ACH volumes were down slightly from the same quarter in 2019, transaction volume grew 13% and returns grew 39% sequentially from the third quarter."