Company to Report All-Time Record Quarterly Revenues in the Third Quarter of 2018 for Q3 -
Payment Data Systems (NASDAQ: PYDS), an integrated electronic payment solutions provider, today announced record transaction processing volumes for the third quarter of 2018.
Third Quarter 2018 Processing Results
Q3 FY 18 v Q3 FY 17
CARD PROCESSING
Credit Card Dollars Processed + 112%
Credit Card Transactions Processed + 109%
ACH
Electronic check transaction volumes + 28%
Returned check transaction processed + 34%
Total dollars processed in the third quarter of 2018 was approximately $885 million, the highest quarterly volume in the history of the company.
“We continue to execute on our plans to grow both organically as well as through acquisitions. Based on volumes processed, revenues for the third quarter are expected to be an all-time record,” said Louis Hoch, President and CEO. “I am also pleased that our ACH business recorded its fifth quarter of sequential growth in electronic check processing volumes. We are proactively investing the positive cash flow generated by the ACH business into our future growth businesses: prepaid card processing and integrated payments. We are very well positioned to achieve record transaction volumes for the year.”
The company will announce earnings and issue its 10Q report on or before November 14, 2018.
