Payment Data Systems yesterday announced that the company had set a record for processing transactions during the month of August, 2011, including transactions for electronic checks and credit cards.
Payment Data Systems provides payment solutions to merchants and billers, developing products to meet the needs of customers in such industries as banking and credit card issuers. PDS prides itself on offering customized solutions for card issuance and payment acceptance for services and bills.
During August, electronic check processing (ACH) volumes reached the highest point in the company’s history, up 64% from July. ACH returned transactions were up 50% over the previous month. Credit card dollars processed during August were the highest of any month in the past three years, up 8% over the previous month, and up 79% over August 2010.
Michael Long, Payment Data Systems CEO, said, “Payment Data is continuing to publically demonstrate its ability to grow transactions for both ACH and credit card processing. As stated before, we view this growth as a foundation which will serve us well into the future. We are very pleased to see this high growth in our operations extend itself into positive growth for top line revenue, gross profit, operating income and net income. We expect to post record financials when we report our earnings for the 3rd quarter which is anticipated on or about October 17, 2011.”
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