PYDS Selects Futurex to Deliver End-to-End Encryption for Its iRemotePay Mobile Application

SAN ANTONIO--()--Payment Data Systems, Inc. (OTCBB: PYDS) an integrated electronic payments solutions provider, today announced that it has selected the industry leading Excrypt SSP9000 hardware security module from Futurex to be deployed with its soon to be released iRemotePay mobile application.

iRemotePay is a wireless mobile payments application that will be initially deployed for the iPhone®, iPad®, and iTouch® to process credit card and ACH payments (e-Checks) over the wireless networks from remote locations and view these payment transactions while away from the office.

Adhering to industry standards, the Excrypt SSP9000 is compliant with both current and emerging audit requirements, including ASC X9.24 – Part 1 and Part 2, FIPS 140-2 Level 3, and PCI HSM. During payment transactions, sensitive cardholder data is immediately encrypted at the point of capture by the iRemotePay mobile application and then decrypted by the Excrypt SSP9000 behind a secure boundary, ensuring full end-to-end protection.

This regulatory compliance and functionality will increase the iRemotePay merchant's confidence and that of their customer by knowing that their financial data is secure and protected at the very point of sale and throughout the entire transaction.

Michael Long, CEO of Payment Data Systems, said, “We recognize the number of mobile devices on the market is dramatically increasing as well as the global acceptance of mobile payments. Therefore the need for secure authentication of mobile devices has never been greater as is the demand for continuous uptime and throughput scalability. With this increased focus on security it follows that encryption of financial data at the point of capture with protection of the data that is in transit along with auditable tracking is paramount to security and confidence by all using the devices. After an exhaustive market search of encryption devices and methods, we believe Futurex provides the greatest capability to assure our iRemotePay customers that they have the best-in-class security and end-to-end encryption.”

“Futurex solutions are designed to provide robust, hardware-based security on a 24/7 basis under the most demanding conditions,” said Ryan Smith, Chief Solutions Architect of Futurex. “We are very pleased to be selected by Payment Data Systems as they bring their innovative mobile technology to market and incorporate the highest possible security standards for their customers.”

About Futurex

For over 30 years, Futurex has been a globally recognized name in providing secure, robust, and cost-effective data encryption security solutions. More than 15,000 customers worldwide have trusted Futurex’s innovative hardware security modules and key management solutions to provide market-leading technology for the secure encryption of sensitive data. Futurex maintains an unyielding commitment to offering advanced, standards-compliant data encryption solutions alongside world class customer service.

Website: http://www.futurex.com

About Payment Data Systems, Inc.

Payment Data Systems 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.

For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at ir@paymentdata.com.

Website: www.paymentdata.com, www.ficentive.com, www.zbill.com
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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 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.

Contacts

Payment Data Systems, Inc.
Michael Long, 210-249-4040
ir@paymentdata.com
www.paymentdata.com

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Contacts

Payment Data Systems, Inc.
Michael Long, 210-249-4040
ir@paymentdata.com
www.paymentdata.com