PDS Closes First Two Months of 2008 with Continuing Growth

 

 

  

San Antonio, TX March 14, 2008 Payment Data Systems, Inc. (OTC BB: PYDS), an integrated electronic payments solutions provider, today announced the company's operating performance in January and February continued a month-to-month growth trend in 2008.

On an unaudited basis, our credit card processing dollar-volume increased 61% in January from the comparable month one year ago, while the corresponding transaction volume grew 21%. February continued this trend with credit card processing volume up 53% from the comparable month one year ago with the corresponding transaction volume up 20%.

"Payment Data completed the first two months of 2008 continuing with the building of our merchant services transaction and revenue baselines," said Payment Data Systems Chairman and CEO Michael Long. Long continued, "Now that one of our larger customers has fully completed its administrative changes we should see higher transaction growth coming back on line."

Long added, "With our acquisition efforts coming to fruition, we expect to add significant incremental growth to both dollars and volumes".
 

About Payment Data Systems, Inc.

Payment Data Systems, Inc. is an integrated provider of world class electronic payment solutions to merchants, billers, banks, service bureaus, and credit and stored-value card issuers. PDS specifically tailored solutions manage critical points along the full spectrum of the transactional chain, ranging from card issuance to payment acceptance to electronic bill payment.

Payment Data 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 holds the exclusive license to market the Natalie Gulbis Gift MasterCard (www.nataliemastercard.com).

Payment Data Systems Inc. (OTCBB: PYDS) is a registered ISO/MSP of MetaBank and a registered ISO/MSP and TPS/TPP of Merrick Bank Corp., South Jordan, UT.

Payment Data is a Level One PCI compliant Third Party Servicer.

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.
 
Payment Data Systems, Inc.
Michael Long
Chairman and CEO
phone: 210-249-4040
 
  
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