Benzinga | Jul 26, 2021 09:05AM EDT

Usio Q2 2021 Total Dollars Processed $2.73B Vs $1.87B In Q1

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

Louis Hoch, President and Chief Executive Officer of Usio, said, "This is our third consecutive quarter of record electronic payments and dollar transaction processing volume. ACH electronic check dollars processed almost quadrupled this quarter, while electronic check transactions, return check transactions and card transactions processed all doubled, at least. These results illustrate that we are on a rapid growth trajectory. Our success is built on our strategy to invest in our high growth PayFac platform, target fast growing markets such as cryptocurrency and FinTech lending while maintaining our diversity strategy, and leverage the relationships we've developed with over 100 governmental and charitable organizations through our Prepaid card division. The Usio franchise has never been stronger, and we are committed to extending our leadership by continuing to innovate and deliver value to the markets we serve. The company will report record financial metrics for the second quarter of 2021."

Second Quarter 2021 Processing ResultsCard Processing, Including PayFacvQ2 20Credit Card Dollars Processed + 55%Credit Card Transactions Processed + 100%PrepaidvQ2 20Prepaid Card Load Volume + 65%Prepaid Card Transaction Volume + 63%ACHvQ2 20Electronic Check Transaction Volume + 155%Returned Check Transactions Processed + 133%Electronic Check Dollars Processed + 397%

More ACH transactions were processed in the second quarter of 2021 than any previous quarter in the company's history. Total Dollars processed in the second quarter of 2021 were $2.73 billion, topping the previous all-time record of $1.87 billion that was set in first quarter of 2021. Finally, Card Processing, including PayFac, set another all-time record for both transactions and dollars processed.