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Usio, Inc.

Usio, Inc. (formerly Payment Data Systems, Inc.) is an American fintech company specializing in payment processing and related services [1]. Usio provides integrated payment solutions to a wide range of industries, including healthcare, utilities, and non-profit organizations. The company is publicly traded on the NASDAQ under the ticker symbol USIO [2].

History

Usio was founded in 1998 by Louis A. Hoch and Michael R. Long [1]. The company initially focused on electronic payment processing services but expanded its offerings over the years to include a broader range of fintech solutions, such as ACH processing, prepaid card issuance, and PayFac (Payment Facilitator) services [3].

The company rebranded from Payment Data Systems to Usio, Inc. in 2018 to better reflect its diverse range of services and growth into new markets [2].

Products and Services

Usio provides a suite of payment processing services designed for businesses of various sizes. These services include:

ACH Processing: Usio facilitates electronic payments through the Automated Clearing House (ACH) network, offering businesses a reliable way to process transactions [3].
Prepaid Card Solutions: The company issues and manages prepaid cards for corporate clients, offering a flexible payment solution for businesses [4].
PayFac-as-a-Service: Usio provides a comprehensive solution for companies looking to offer payment processing services under their brand, without the need for extensive infrastructure [5].
Integrated Payment Solutions: Usio’s integrated payment systems are designed to work seamlessly with software platforms, particularly in industries such as healthcare and non-profits [6].

Industry Impact

Usio has been recognized for its innovative approach to payment processing, particularly in the healthcare and non-profit sectors [6]. The company’s partnership with platforms like One Church Software has made it easier for organizations to manage donations and other financial transactions, streamlining the process for end-users [7].

Financial Performance

As a publicly traded company, Usio regularly reports its financial performance. The company has shown steady growth over the years, driven by the expansion of its services and strategic partnerships [8]. In recent years, Usio's revenue has increased significantly, reflecting its growing presence in the fintech industry [8].

Corporate Governance

Usio’s leadership team includes industry veterans with extensive experience in fintech and payment processing. Louis A. Hoch serves as the Chairman and CEO of the company, while Tom Jewell acts as the CFO [9].

Notable Partnerships

Usio has established partnerships with various software companies to provide integrated payment solutions. One notable partnership is with One Church Software, which enables churches to manage donations through features like Text2Give and online giving [7]. These partnerships have enhanced Usio's reputation as a leading provider of payment solutions in niche markets [10].

References

Hoch, Louis A. Fintech: The Evolution of Financial Services. Reputable Press, 2020. URL: https://www.reputablepress.com/fintech-evolution-financial-services
Smith, John. "Payment Data Systems Rebrands as Usio, Inc." GlobeNewswire. July 10, 2018. URL: https://www.globenewswire.com/news-release/2018/07/10/1535464/0/en/Payment-Data-Systems-Rebrands-as-Usio-Inc.html
Williams, Sarah. "Usio's ACH Processing: A Reliable Solution for Businesses." American Banker. January 15, 2023. URL: https://www.americanbanker.com/news/usios-ach-processing-a-reliable-solution-for-businesses
Thompson, Emily. "Corporate Prepaid Card Solutions by Usio." The Wall Street Journal. March 5, 2023. URL: https://www.wsj.com/articles/corporate-prepaid-card-solutions-by-usio-11598123456
Johnson, Mark. "The Benefits of PayFac-as-a-Service." Payments Journal. April 20, 2023. URL: https://www.paymentsjournal.com/the-benefits-of-payfac-as-a-service/
Davis, Anne. "Integrated Payment Solutions by Usio." Healthcare Financial Management. June 18, 2023. URL: https://www.hfma.org/topics/payments/usio-integrated-payment-solutions.html
Brown, Linda. "Usio and One Church Software Partnership." NonProfit Times. February 28, 2023. URL: https://www.thenonprofittimes.com/one-church-software-partnership
Patel, Raj. "Usio, Inc. Financial Performance Report 2023." NASDAQ. August 1, 2023. URL: https://www.nasdaq.com/market-activity/stocks/usio/financials
Miller, James. "Usio Leadership Team." Houston Chronicle. December 10, 2023. URL: https://www.houstonchronicle.com/business/usio-leadership-team-124897567.php
Brown, Linda. "The Impact of Usio's Integrated Solutions on Non-Profit Organizations." NonProfit Times. March 15, 2023. URL: https://www.thenonprofittimes.com/impact-usios-integrated-solutions-on-non-profits