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As Online Payments Skyrocket, This Company Reportedly Solidifies Its Speed And Certification

·3-min read

DGAP-News: USIO
As Online Payments Skyrocket, This Company Reportedly Solidifies Its Speed And Certification
30.08.2022 / 14:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

An automated clearing house (ACH) is an electronic network capable of carrying out different types of money transfers between banks. As the primary method of electronic payment available to both institutions and individuals, ACH payments dominate, with over 7 billion transfers made in the first quarter of 2022 alone.

While consumer bill payment is still the largest percentage of ACH transfers, there are a whole host of ACH categories, including business-to-business (B2B), direct deposit, and person-to-person.

Companies working in the ACH payment industry include Block Inc. (NYSE: SQ), National Processing, and PaymentCloud.

ACH transfers can either be made as credit or debit payments and since 2016 there is the option for money to be fully transferred on the day of payment. Security checks often mean the transfer can take several days, and while the majority of transfers remain multi-day, the National Automated Clearing House Association (NACHA) reported that some of the greatest growth is in same-day payments, suggesting that delivery speed is an important consideration in the rapidly expanding digital market.

One company looking to take advantage of the spurt in same-day ACH payments is Usio Inc. (NASDAQ: USIO). Usio describes itself as among the first fintech companies able to achieve same-day delivery of funds at a rate considerably cheaper than credit card transfers. It also touts a NACHA Third-Party Sender certification, a voluntary certification that serves as an indicator of the companies striving to provide top-quality payment solutions.

Safe, Certified, Same-Day? Usio’s ACH Service

Usio is a cloud-based, broad-industry fintech company that offers a variety of payment solutions to businesses, nonprofits, and government agencies. Its services include payment facilitation (PayFac), prepaid card issuing, card processing, and ACH payments.

Usio especially looks to serve clients seeking B2B transactions, disbursements, and bill payments. Its website claims to employ multiple originating financial depository institutions (OFDIs) to painlessly transfer money, arguing that its ACH system makes transferring funds both simpler and cheaper, while its NACHA certification guarantees the highest level of compliance.

Usio claims to have a strong profit margin on each transaction, with ACH payments now making up 24.9% of Usio’s revenue. It also announced an increase, on average, of 23% across all categories of ACH payments from the first quarter of 2021 to the same period in 2022.

Its growth in ACH transactions is coming at a time when the company is expecting to report record expansion in its electronic payment and financial processing, according to an April 26 press release. It has seen a total increase of 18% in dollars processed from the first quarter of 2021 to 2022, processing a record $2.4 billion for the second quarter of 2022.

To learn more about Usio, visit its website https://usio.com/.

Usio, Inc. is a tech-enabled payment solutions provider to merchants, billers and software companies. We provide an extensive set of tailored products to deliver world-class payment acceptance, processing, and risk/fraud management.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Contact Details

Joe Hassett

+1 484-686-6600

joeh@gregoryfca.com

Company Website

http://www.usio.com/


News Source: News Direct


30.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

USIO

United States

ISIN:

US9173131080

EQS News ID:

1431429


 

End of News

DGAP News Service

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