AP NEWS

Payment Data Systems’ 3Q revenue soars 80%

November 16, 2018

San Antonio-based Payment Data Systems Inc. reported record quarterly revenue in the three months ended Sept. 30.

The electronic payment solutions provider generated $6.5 million in revenue in the latest quarter, up 80 percent from the same time last year when it had about $3.6 million in revenue.

Louis Hoch, chairman and CEO, attributed most of the increase to acquisitions the company has made. He said in a statement the company is on pace for a “banner year.”

The company lost $813,166, or 7 cents a share, in the latest quarter. By comparison, it lost about $890,000, or 10 cents a share, in the same period last year.

Payment Data Systems said more than $885 million total dollars were processed during the third quarter, the highest volume in three years.

The company provides payment processing services to businesses, including for ACH, credit card and debit card transactions.

Patrick Danner is a San Antonio-based staff writer covering banking and civil courts. Read him on our free site, mySA.com, and on our subscriber site, ExpressNews.com. | pdanner@express-news.net | Twitter: @AlamoPD

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