Payment Data
Systems, an integrated payment solutions provider to merchants and billers,
reports that it is experiencing considerable growth in transactions processed.
For the month of
November, the company reports an increase of 17 percent in electronic check
transaction volumes, as compared to the previous month. In addition, the
company reports an increase of 17 percent for returned check transactions, also
compared to the previous month.
The company recorded
total dollars processed for November at more than $146 million, a new record
for the company, beating out the previous record that was achieved in October
2013.
With more than two
weeks of the fourth quarter of 2013 remaining, Payment Data Systems reports that
the quarter’s electronic check transaction volumes were already up 497 percent
and returned check transactions were up 2,334 percent, as compared to the third
quarter of 2013.
Management expects
that the company will continue to see significant growth throughout the
remainder of the year.
“The fourth quarter
of 2013 will be our best of the year resulting in dramatic, positive influences
to all our financial metrics for the quarter,” Michael Long, CEO of Payment
Data Systems stated in the news release. “The significant transaction growth we
are experiencing should allow us to record our highest revenue for any quarter
of 2013. We are excited about our newly acquired customers and believe the
increase in transactions should continue for the foreseeable future and will
carry into 2014.”
For more
information, visit www.paymentdata.com
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