San Antonio, TX
Mar 29, 2005 Payment Data Systems, Inc. (OTC BB: PYDS) an
integrated electronic payments solutions provider, announced today
that it continues to experience rapid growth month over month both in
the total dollar value and volume of transactions being processed.
"With March virtually over, we are able to project that the first
quarter of 2005 be up over 130% for transactions and up over 90% in
dollar volume above the 4th quarter of 2004. We have seen this
sustained dollar volume growth for three sequential quarters," said
Michael Long, CEO, and the run rate in our projections suggest that
Payment Data Systems is likely to continue this growth rate into the
foreseeable future".
Long added, "As a result of our momentum, I believe we can turn
cash flow positive later this year. The market has been very
responsive to our products and services and all business lines are
showing significant growth. Our pipeline is as robust as it is diverse
with respect to the customers and market segments that we are
beginning to serve. In my view, this adds up to a very positive
outlook for Payment Data Systems in 2005".
About Payment Data Systems, Inc.
Payment Data Systems, Inc., is an Integrated Payments Solution
Provider delivering comprehensive, cost-effective solutions to billers
and retailers for the processing and management of electronic payments
via the Internet, point of sale, or payments taken by Customer Service
Representatives or an Interactive Voice Response (IVR). Additional
products available from PDS include services and products that can be
implemented more quickly and less expensively than the alternative of
adding multiple payments companies as these solutions offer a full
range of payment processing capabilities. These service offerings
include: one time and recurring ACH debits and credits, electronic
lockbox and returned check services, Web pay acceptance of credit
cards and checks, telephone pay to Customer Service Representatives
for acceptance of credit cards and checks, Interactive Voice Response
systems which completely automate the payment receiving process, and
data warehousing that enable the storage and retrieval of all payment
history from one location. Payment Data is the owner of the electronic
bill payment portal, http://www.billx.com . billx.com has the ability
to transmit electronic payments to thousands of national billers. For
additional information, visit www.paymentdata.com, or contact Michael
Long at 210.249.4040 or email michael.long@paymentdata.com.
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Payment Data Systems, Inc.
Michael Long
CEO
phone: 210-249-4040
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FORWARD-LOOKING STATEMENTS DISCLAIMER Except for the historical
information contained herein, the matters discussed in this release
include certain forward-looking statements, which are intended to be
covered by safe harbors. Those statements include, but may not be
limited to, all statements regarding our and management's intent,
belief and expectations, such as statements concerning our future and
our operating and growth strategy. Investors are cautioned that all
forward-looking statements involve risks and uncertainties including,
without limitation, the factors detailed from time to time in our
filings with the Securities and Exchange Commission. One or more of
these factors have affected, and in the future could affect, our
businesses and financial results in the future and could cause actual
results to differ materially from plans and projections. We believe
that the assumptions underlying the forward-looking statements
included in this release will prove to be accurate. In light of the
significant uncertainties inherent in the forward-looking statements
included herein, the inclusion of such information should not be
regarded as a representation by us or any other person that our
objectives and plans will be achieved. All forward-looking statements
made in this release are based on information presently available to
our management. We assume no obligation to update any forward-looking
statements, except as required by law.
