SAN ANTONIO--(BUSINESS WIRE)--Usio, Inc. (Nasdaq: USIO), a cloud-based, integrated FinTech electronic payment solutions provider, today announced it had entered into an agreement whereby its innovative payments technology will be integrated into the software of a leading provider of web-based integrated Enterprise Resource Planning (ERP) solutions. The ISV’s ERP system is installed on hundreds of small, mid-sized and enterprise-level businesses. Usio’s payment solution will be fully integrated into the provider’s web-based software solutions, making it easier than ever for the ISV’s merchants to process all manner of electronic payments. As it is integrated, the ISV believes these improvements will prompt its merchants to readily migrate their electronic payment transaction processing volume onto the Usio payments platform.
Louis Hoch, President and Chief Executive Officer of Usio, said, “We welcome our new ISV and its customers to the Usio payment network. This is a significant competitive win as our new ISV has customers that process over $1 billion of electronic payments per year. If Usio achieves its objective to board all of the ISV’s existing merchants, their more than $1 billion of transaction processing volume could equate to over $20 million in annual recurring revenues for our Card business. Usio’s payment solution is currently being integrated into the ISVs web-based ERP solution. We expect to board the first group of merchants in the later part of the second quarter with boarding expected to ramp up from that point forward. Once boarded, we expect revenue to follow beginning late this year and more meaningfully in 2025.”
Hoch continued, “This new relationship reflects the strong value proposition that our PayFac-in-a-Box payment solution offers to independent software vendors (ISVs). Our technology allows ISVs to easily integrate flexible payment capabilities into their applications enabling their merchants to process all manner of electronic payments. Ease of use, the strength of our payment network, our ’white glove‘ customer service, and the flexibility of our solution were all factors that were heavily in our favor.”
The ISV provides ERP software for thousands of merchants, who generate approximately $6 billion in total revenues per year, of which more than $1 billion is in the form of electronic payments. The firm caters to a variety of verticals, primarily franchisees in the janitorial & sanitation, home improvement, and domestic services industries, but serves other markets as well, such as Government. In addition to their leading ERP software, the ISV has expertise in complex product configuration and sales (configure, price, quote), warehouse management, supply chain logistics, and a variety of other integrated business tools.
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, integrated software vendors 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 through its unique payment facilitation platform as a service. 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 card issuing sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas. 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, 2023. 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.
