Payment Data Systems and Akimbo Waive Gift Card Purchase Fees for Supporters of Hurricane Harvey and Irma Victims

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| Source: Payment Data Systems, Inc.

SAN ANTONIO, Sept. 18, 2017 (GLOBE NEWSWIRE) -- Payment Data Systems (Nasdaq:PYDS) and Akimbo announced today that they are waiving all purchase, printing, and production fees on gift card orders that support victims of Hurricane Harvey and Irma. Individuals can send gift cards directly to friends or family members in the impacted areas online and incur no purchase fee. In addition, businesses, non-profits, charities, and other entities can order gift cards in bulk, and the Company will cover all costs for the bulk card production and shipping. To learn more, visit https://akimbocard.com/relief.

“We believe gift cards are a unique method to deliver help directly to victims,” said Houston Frost, SVP of Prepaid Products. “Waiving the purchase fee was an obvious way we could help ensure that 100% of donated funds end up in the hands of those that need it.”

Open-loop gift cards, such as MasterCard and Visa, typically have a $4-$5 purchase price to offset printing, shipping and payment processing costs. Payment Data Systems has agreed to cover these expenses for all gift card orders that support relief efforts.

“With offices in both Texas and Florida now, this was an easy decision to help support recovery efforts,” said Louis Hoch, President and CEO.

About Payment Data Systems, Inc.

Payment Data Systems, Inc. (Nasdaq:PYDS), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, and card issuers. The Company operates credit, debit/prepaid and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their clients. 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 prepaid sector.  Payment Data is headquartered in San Antonio, Texas, and has offices in New York, New York; Long Beach, California; St. Augustine, Florida and Nashville, Tennessee.  For additional information please visit www.paymentdata.com. Websites: www.singularpayments.comwww.payfacinabox.comwww.akimbocard.com and www.ficentive.com. Find us on Facebook®.

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 management’s intent, belief and expectations, such as statements concerning the Company’s future and operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “proceed,” “continue” 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 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 loss of key personnel, growing competition in the electronic commerce market, the security of the Company’s software, hardware and information, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in its filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2016. 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. Management 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 the Company or any other person that the Company’s objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. Management assumes no obligation to update any forward-looking statements, except as required by law.

Investor Contact:                                                                 
Preston Graham
Preston@stonegateinc.com
972-850-2001