SAN ANTONIO, Nov. 26, 2018 (GLOBE NEWSWIRE) -- Payment Data Systems (NASDAQ: PYDS), an integrated electronic payments solutions provider, announced today the addition of two new strategic partners; Pivotal Partners and Pilgrim Consulting. These partnerships represent exciting new distribution channels to further expand Payment Data Systems’ penetration of targeted verticals, especially in healthcare and other strategic verticals.
Vaden Landers, EVP and Chief Revenue Officer at Payment Data Systems, said of the two new partnerships, “We are very pleased that these professional service organizations - both leaders in their field - have chosen our ‘PayFac-in-a-Box’ platform as the payments enablement solution that best meets the needs of their respective clients. The numerous software developer customers and merchant communities served by these new partner organizations can now count on our simple, easy-to-use integration and onboarding to quickly and effectively enjoy the benefits of a state-of-the-art payments technology.”
Pivotal Partners provides advisory and consulting services across the healthcare, product distribution and business services industries. Founder Brent Hendrickson and his team have extensive experience in the healthcare sector. Commenting on the announcement Hendrickson said, “Payment Data Systems’ payment facilitation technology affords unsurpassed benefits to our hospital system, clinic, revenue cycle management and software developer clients and their merchant customers.”
Landers added, “The Pivotal team are highly-respected and sought-after leaders who are looked upon as trusted advisors in the healthcare community. We are very pleased they recognize that our PayFac-in-a-Box platform is another tool they can use to help healthcare organizations meet the mounting issues of patient financial responsibility. This is an ideal partnership.”
Pilgrim Consulting is a professional software development firm serving the developer community in a variety of consultative manners. Landers remarked, “Because of its versatility, Pilgrim is able to come alongside a technology provider and either take on an entire project or simply assist in some strategic capacity. They recognized that our expansive API library was an ideal solution to the challenge of integrating payments functionality into their software implementations. For Payment Data Systems, the partnership with Pilgrim opens the door to a variety of large, fast-growing new verticals where we do not specifically focus today.”
Landers concluded, “Working with strategic partners like Pivotal and Pilgrim enables us to further expand our reach and accelerate our penetration of key market verticals. These companies provide their Integrated Software Vendor (ISV) clients a way to simply and easily monetize the stream of payments flowing through their systems. Most notably they believe our ability to offer a single, click-of-a-button onboarding and activation technology will lead to widespread adoption of their payment solution.”
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 services 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 Systems is headquartered in San Antonio, Texas, and has offices in Franklin, Tennessee, just outside of Nashville.
Websites: www.paymentdata.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com, and www.ficentive.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 the realization of the anticipated opportunities from the Singular 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 our 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, 2017. One or more of these factors have affected, and in the future, could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe 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 our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.
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Investor Relations:
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Gregory FCA
joeh@gregoryfca.com
484-686-6600