Welcome to our dedicated page for Usio news (Ticker: USIO), a resource for investors and traders seeking the latest updates and insights on Usio stock.
Usio, Inc. (Nasdaq: USIO) is a FinTech company that operates integrated, cloud-based electronic payment and embedded financial solutions platforms, and its news flow reflects developments across ACH processing, card issuing, prepaid services and Output Solutions. On this page, readers can review press releases and media coverage related to Usio’s operations, financial results, partnerships, acquisitions and corporate initiatives.
Usio regularly publishes quarterly financial results, detailing performance across its ACH and complementary services, credit card (including PayFac), prepaid card services and Output Solutions lines of business. These updates include information about total payment transactions processed, total payment dollars processed through all payment channels, and trends in electronic check volumes, PINless debit activity, card load volumes and document processing metrics.
The company’s news also covers strategic partnerships and integrations, such as its collaboration with Mortgage Automator, where Usio’s payment technology is embedded into mortgage origination and servicing software to provide ACH, card payments, PINless debit and real-time disbursements for private lenders. Another notable news item is Usio’s acquisition of substantially all of the assets of PostCredit Co, a financial technology company with an AI-enabled expense-management and business-banking platform that Usio plans to integrate with its payment infrastructure.
In addition, Usio issues news about corporate recognition and community involvement, including earning a Great Place To Work Certification and supporting relief efforts in the Texas Hill Country through donations and partnerships. Investors and observers can use this news page to follow how Usio’s processing volumes, product offerings, partnerships and corporate activities evolve over time.
Usio has partnered with Emphasys Software to launch MyTenantPayments, a portal for over 200 Public Housing Authorities (PHAs) to process approximately $800 million in annual tenant payments. The initiative responds to the demand for reducing in-person payment methods, especially amid the COVID-19 pandemic. The platform enables electronic payments via ACH, credit, and debit cards, enhancing cash flow and reducing costs. This partnership is expected to increase transaction volume as more PHAs migrate to Usio's platform, leveraging its proprietary Payfac technology.
Usio, Inc. (Nasdaq: USIO) has renewed and expanded its strategic partnership with Voyager Digital Holdings, making Usio the exclusive provider of ACH payment solutions for Voyager. Since the relationship began in 2018, Usio's payment facilitation technologies have supported Voyager’s significant growth in the fast-evolving cryptocurrency market. Both companies anticipate strong growth as interest in cryptocurrencies rises. CEO Louis Hoch expressed excitement about the collaboration, while Voyager's CEO Steve Ehrlich noted the partnership's benefits and Usio's reliable technology for scalability.
Usio, Inc. (USIO) announced its prepaid card solution has been selected as the preferred method for disbursing funds under The Compton Pledge, the largest guaranteed income program in the U.S. The initiative will provide cash relief to approximately 800 low-income residents for two years, aimed at addressing racial and economic injustices. Usio’s prepaid cards will facilitate access for underbanked individuals, enhancing fund management efficiency. This partnership underscores Usio's growing influence, with nearly 100 similar organizations utilizing its card issuing technology.
Usio, Inc. (Nasdaq: USIO) completed the acquisition of Information Management Solutions (IMS) on December 15, 2020, through its subsidiary PDS Acquisition Corp. This strategic move aims to enhance revenue growth, with an expected addition of over $13 million in annual revenue and approximately $1 million of annual Adjusted EBITDA. Usio plans to rebrand IMS offerings as Usio Output Solutions, creating a new revenue segment. The acquisition was valued at $5.9 million in cash, with additional warrants issued to IMS shareholders.
University Fancards LLC, in collaboration with USIO and eGifter, has launched a new platform for purchasing and sending Fancard Gift Mastercards tailored for college sports fans. Available via the Fancards website, these prepaid cards can feature favorite college teams and be sent as physical or virtual gifts. This initiative enhances user experience, allowing recipients to easily add cards to digital wallets like Apple Pay and Google Pay. The partnership aims to expand Fancards' offerings, having recently added teams such as the University of Virginia to their roster.
Usio, a leading electronic payment solutions provider, will present at the 13th annual LD Micro Main Event investor conference on December 14 at 9:40 am EST. President and CEO Louis Hoch, along with Senior VP Greg Carter, will address a live virtual audience. The Main Event, scheduled for December 14-15, boasts a new format featuring 10-minute presentations followed by Q&A sessions. As a trusted provider of payment solutions, Usio offers a diverse range of services encompassing credit, debit, prepaid, and ACH processing. More details can be found on their website.
Usio has announced a non-binding Letter of Intent (LOI) to acquire the assets of Information Management Solutions (IMS). This acquisition aims to enhance Usio's service offerings in electronic bill presentment and document composition, targeting utilities and financial institutions. CEO Louis Hoch anticipates immediate accretion and synergies from cross-selling Usio’s technology. The deal depends on due diligence and IMS's audit completion. Notably, IMS has a strong customer base and expertise in various sectors, making this acquisition strategically significant for Usio’s growth.
Usio, Inc. (Nasdaq: USIO) announced its third quarter 2020 results, achieving record quarterly revenues of $8.1 million, a 15% increase year-over-year. Key growth drivers included a 14% rise in Card Processing and a remarkable 225% increase in Prepaid revenues. The company's adjusted EBITDA loss improved to $253,921, reflecting a 40% enhancement compared to Q3 2019. Despite a net loss of $0.9 million, Usio’s strong balance sheet, supported by recent equity offerings, positions it for continued growth in its payment solutions market.
Usio, Inc. (Nasdaq: USIO) will announce its third quarter financial results on November 12, 2020, after market closure. The management will hold a conference call on November 13, 2020, at 11:00 a.m. ET to discuss these results and provide a business update. The call can be accessed by dialing 1-844-883-3890 for U.S. callers or 1-412-317-9246 for international participants. A replay will be available until November 27, 2020. Usio specializes in integrated electronic payment solutions, including card issuance and payment acceptance.
Usio, Inc. (Nasdaq: USIO) announced a preliminary record revenue for Q3 2020, driven by exceptional growth in card and prepaid segments. The President, Louis Hoch, noted year-over-year increases in key performance metrics, including a 15% rise in credit card dollars processed and an 81% increase in transactions. Prepaid card load volume surged by 329%, and ACH performance is also recovering. The total dollars processed reached $852 million, signaling a strong rebound from COVID-19 impacts and a positive outlook for sustained growth into Q4 2020.
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