Benzinga | Apr 26, 2021 09:13AM EDT

Usio Reports Q1 Total Dollars Processed $1.86B

Usio, Inc. (NASDAQ:USIO), an integrated electronic payment solutions provider, today reported record transactions and processing volume for the first quarter of 2021.

Louis Hoch, President and Chief Executive Officer of Usio, said, "First quarter electronic payments and dollar transaction processing volume was more than double our previous record quarter, which was set in the fourth quarter of 2020. These two consecutive quarters of record dollars processed clearly indicates our business has inflected, and we have now been consistently operating at a significantly higher level of activity. There has been a doubling of key performance metrics in each of our segments, with ACH electronic check dollars processed up 139%, and credit card transactions processed and prepaid load volume both up 105%. The new year is off to a great start and we are capitalizing on the strong business momentum by continuing to invest in our growth platforms to further strengthen the Usio franchise."

First Quarter 2021 Processing Results

Card Processing, Including PayFac vQ1 20Credit Card Dollars Processed + 30%Credit Card Transactions Processed + 105% Prepaid vQ1 20Prepaid Card Load Volume + 105%Prepaid Card Transaction Volume + 89% ACH vQ1 20Electronic Check Transaction Volume + 37%Returned Check Transactions Processed + 24%Electronic Check Dollars Processed + 139%

More ACH and Card transactions were processed in the first quarter of 2021 than any previous quarter in the company's history. Total Dollars processed in the first quarter of 2021 were $1.86 billion, topping the previous all-time record of $920 million that was set in fourth quarter of 2020.