Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Payment Data Systems, Inc. (PYDS) Sets Record for Transactions Processed in the Month of July

|Includes: Payment Data Systems, Inc. (PYDS)

Payment Data Systems, an integrated electronic payments solutions provider, today announced that July’s ACH (electronic check) processing numbers were the highest in the company’s history. The company also said July’s credit card processing volumes were the highest of any month in 2011 and 2010. According to company data, last month’s ACH transaction volumes rose 85% and ACH returned check transactions were up 144% compared to June of 2011. Credit cards dollars processed in July were up 26% over June of 2011 and up 64% over July of 2010.

“Payment Data is currently enjoying unprecedented transaction growth for both ACH and credit card processing. This high growth in transactions processed is being accomplished through dramatically increasing customer volumes and new customer additions which should produce recurring revenue,” said Michael Long, CEO, Payment Data Systems, in a press release distributed on Monday. “Furthermore, we do not foresee this as an anomaly but rather a foundation that will serve us well into the future. Clearly we have begun to move the indicators within the company into the green zones.”

Since 1998 when Payment Data Systems was formed as BillServ, the company has demonstrated success as an electronic bill presentment and payment company (EBPP). Clients of the company have represented approximately 16% of all paper bills produced in the United States. Today Payment Data Systems processes all forms of Automated Clearing House (NYSE:ACH) processing from Accounts Receivable Conversion (NYSE:ARC) to Returned Check Collection (RCK); Credit Card Acceptance or Merchant Services, with connections to all processors, whether taken over the web or at a counter point of sale; full solutions for web payments ranging from the ability to interface with over 100 shopping carts; acceptance of all credit/debit cards; and e-checks entered by the consumer or taken over the phone by your Customer Service Representative. All these payment forms can be collected through a tailored-to-your-requirements Interactive Voice Response (NYSE:IVR) system.

For additional information on quarterly earnings, visit

Please see disclaimer on the QualityStocks website: