Usio Reports Record Fourth Quarter and FY 2021 Electronic Payments Transaction and Processing Volume

Total Dollars processed of $2.9 billion in the fourth quarter of 2021, up 215% from year ago fourth quarter

Both transactions and dollars processed are most for any single quarter in the history of the company

Total Dollars processed of $9.5 Billion in Fiscal 2021, up 184% from Fiscal 2020

SAN ANTONIO, Jan. 25, 2022 (GLOBE NEWSWIRE) — Usio, Inc. (Nasdaq: USIO), a cloud-based, integrated FinTech electronic payment solutions provider, today reported record transactions and processing volume for the fourth quarter of 2021.

Louis Hoch, President and Chief Executive Officer of Usio, said, “We ended the year with the strongest quarter in the history of the Company, with $2.9 billion in total dollars processed, a 215% increase compared to the total dollars processed in the fourth quarter of 2020. ACH growth was particularly impressive, with electronic check transaction volume more than doubling and electronic check dollars processed nearly tripling compared to the same quarter a year ago. Total dollars loaded on prepaid cards set a new quarterly record at $65 million, fueling a 205% increase in prepaid card transaction volume compared to the fourth quarter a year ago.  And, both Credit Card dollars and transactions processed for the fourth quarter were up more than 40% compared to the same quarter last year. As a result of the increases in each of our segments, total dollars processed for the year of $9.5 billion also set a new company record, and were up 184% from fiscal 2020. We expect this strong transaction and dollars processed volume to result in record fourth quarter revenues. Once again, we believe our payment channel diversification strategy has proven to be the catalyst to this dramatic growth and our key to weathering any potential headwinds that may occur from Covid or moderate inflation. Our goal is to further leverage this momentum into continuing strong revenue growth and increasing our existing positive cash flows. We look forward to reporting record company annual revenues and income for 2021 in our financial statements by the end of March.”

Fourth Quarter 2021 Processing Results

Total dollars loaded on prepaid cards exceeded $65 million in the fourth quarter and set a new quarterly record.

Total Dollars processed in the fourth quarter of 2021 were $2.9 billion, up 215% compared to the same period last year. Total Transactions processed in the fourth quarter of 2021 were 11.3 million. Both transactions and dollars processed are the most for any single quarter in the history of the company.

Full Year 2021 Processing Results

Total dollars processed for Card was $1.2 billion for the year, a new full year record.    

Total dollars loaded on prepaid cards exceeded $184 million in 2021, a new full year record.

Total dollars processed for the full year 2021 were $9.5 billion, a new annual record and up 184% from full year 2020.   Total transactions processed for the year 2021 were 35.3 million, a new full year record and up 94% from full year 2020.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, crypto exchanges, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas, and Franklin, Tennessee, just outside of Nashville. Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook^® and Twitter.

FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “intend,” “look forward,” “anticipate,” “schedule,” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks related to an economic downturn as a result of the COVID-19 pandemic, the realization of opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2020. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes 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 the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

Contact:
Joe Hassett, Investor Relations
joeh@gregoryfca.com
484-686-6600