Payment Data Systems’ Growth Trend Continues in September
San Antonio, TX
October 03, 2006 Payment Data Systems, Inc. (OTC BB: PYDS), an
integrated electronic payments solutions provider, today announced another
milestone month, as September’s credit card processing activity continued
the company’s 2006 trend of monthly records.
On an unaudited basis, the company's dollar-volume increase in September
resulted in a 185% jump from the comparable year-ago level. Payment Data
Systems' transaction volume in September represented a 560% year-over-year
jump from the same month in 2005.
Throughout 2006, Payment Data Systems has logged volume records in every
month. Payment Data Systems’ Chairman and CEO Michael Long said that the
company had exceeded its guidance for the third quarter of 2006, which ended
September 30. The company previously said that it expected year-over- year
increases of 600% in transaction volume and 150% in dollar volume in the
third quarter.
"September marks another month of growth for Payment Data Systems,” said
Mr. Long. "We have finished a very strong third quarter, and we enter the
year’s final quarter with substantial prospects for more excellent
performance."
About Payment Data Systems, Inc.
Payment Data Systems, Inc. is an integrated payment
solutions provider to merchants and billers. The
organization provides an extensive set of products
to deliver world-class payment acceptance. Payment
Data has solutions for merchants, billers, banks,
service bureaus and card issuers. The strength of
the company is its ability to offer specifically
tailored solutions for card issuance, payment
acceptance and bill payments.
Payment Data
Systems, Inc. is the owner of the electronic bill
payment portal, http://www.billx.com, which has the
ability to transmit payments to thousands of
national billers.
Payment Data's intellectual property includes
U.S. Patent Number 7,021,530 that relates to bill
payments made with debit and stored value cards.
For additional information, visit
www.paymentdata.com. Contact Michael Long for
Investor Relations information at 210.249.4040 or
email at ir@paymentdata.com. Websites:
www.paymentdata.com, and www.billx.com.
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.
