Benzinga | Oct 28, 2021 09:11AM EDT

Usio Q3 Total Dollars Processed $2.1B, Up 141% Year Over Year

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

SAN ANTONIO, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (NASDAQ:USIO), a Fintech integrated electronic payment solutions provider, today 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 2021Processing Results Card Processing, Including PayFac vQ3 20Credit Card Dollars Processed + 43%Credit Card Transactions Processed + 76% Prepaid vQ3 20Prepaid Card Load Volume + 2%Prepaid Card Transaction Volume + 115%Prepaid Card Purchase Volume + 18% ACH vQ3 20Electronic 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.