Payment Data Systems’ FiCentive Subsidiary Adds Two New Partnerships to Expanding Prepaid Business

Payment Data Systems’ FiCentive Subsidiary Adds Two New Partnerships to Expanding Prepaid Business

San Antonio, TX (October 16, 2018) — FiCentive, a wholly-owned subsidiary of Payment Data Systems, Inc. (NASDAQ: PYDS), is excited to announce the addition of two new prepaid partners, SVM and UniTeller.  FiCentive also announces the addition of Kyle Ruschman as VP of Sales and Business Development, where he will lead the organization’s growth initiatives.

Houston Frost, SVP of Prepaid Products for Payment Data Systems, said, “These two new partnerships clearly demonstrate that our FiCentive prepaid card platform continues to offer the features and versatility that prepaid card issuers see as most relevant in today’s dynamic marketplace.  In addition, Kyle brings the experience and industry knowledge to leverage this technology and spearhead our prepaid growth initiatives.”

“I couldn’t be more excited to join the FiCentive and Payment Data Systems family of companies, and I look forward to building on the strong foundation already in place,” said Kyle Ruschman.

SVM, a leading global provider of gift and prepaid card solutions for businesses, recently announced through the strategic partnership with FiCentive their ability to offer a virtual open-loop prepaid card that can be used at retail locations using Apple Pay, Android Pay, or Samsung Pay.  SVM's products are used by leading incentive, rewards, loyalty, and other companies to incent and reward their customers, employees, and prospects.

UniTeller is a leader in international money transfer processing services, offering remittance solutions to business partners and individuals. UniTeller will use FiCentive to create a full white-labeled prepaid card offering, called uLinkcard (ulinkcard.com), for its uLink Digital Remittance program (ulinkremit.com), where customers will be able to send remittances using the card at preferred rates. UniTeller supports a network of more than 110,000 paying locations worldwide connecting their customers living in the U.S. with their families abroad.

About FiCentive

FiCentive, a subsidiary of Payment Data Systems, Inc., quickly and securely delivers customized prepaid card programs for corporations, financial institutions, affinity groups and other organizations that need to deliver a financial solution to their customers, vendors, or employees.  FiCentive has extensive knowledge and experience gained by processing prepaid card programs for over ten years with highly efficient, secure, cost-effective, and integrated payment solutions. Website: http://ficentive.com/

About Payment Data Systems, Inc.

Payment Data Systems, Inc. (NASDAQ: PYDS), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their clients. 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.  Payment Data is headquartered in San Antonio, Texas, and has offices in Nashville, Tennessee.

Websites: www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com, and www.ficentive.com. Find us on Facebook®.

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 the acquisition of Singular Payments, 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 the realization of the anticipated opportunities from the Singular 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, 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, 2017. 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.

 

Investor Contact:                                                                     

Joe Hassett
joeh@gregoryfca.com
484-686-6600