Revenue to Quadruple?Press Release Source: Payment Data Systems, Inc.
Payment Data Systems, Inc. Earns 410 New Merchant Customers With Mobile Commerce Product for Telephone Credit Card Sales
Monday September 25, 7:00 am ET
Brings Company's Total Customer Count to Over 550
SAN ANTONIO, TX--(MARKET WIRE)--Sep 25, 2006 -- Payment Data Systems, Inc. (OTC BB:PYDS.OB - News), an integrated electronic payments solutions provider, today announced the general availability of a new method for merchants to process credit card sales from remote locations without the need for card terminal devices.
The product is an Interactive Voice Response (IVR) application that allows a merchant or service provider to use a telephone to call a special number in order to enter its merchant ID and card number to process a credit card sale. Once the sale is approved, the system provides real time access from the merchant's accounting department to view the transaction.
The system is specifically designed for:
-- Events, Concerts;
-- Taxis and Limousines;
-- Plumbers and Electricians;
-- Installers and Repairmen;
-- Door to Door Sales;
-- Utility Companies' On-Site Collections;
-- Flea Market Merchants;
-- Plus many others.
Features of the program include:
-- Toll Free Access -- No long distance charges;
-- Internet Reporting;
-- Back Office or Home office can immediately view transactions as soon
as a sale is made;
-- Comes with Web Based Virtual Terminal to Submit Payments Via the
Internet;
-- Integrated Telephone and Web based transaction reporting through our
IPS Select CSR View product;
-- Fast Merchant Setup Time -- As Fast as 24 Hours;
-- Supports All Card Types;
-- Funds are available in the merchant's bank within 48 hours.
"Our 410 beta test customers have given this proprietary technology rave reviews," said Louis Hoch, President and COO of Payment Data Systems, Inc. "These customers have generated thousands of transactions and report they are impressed with the efficiency and completeness of the system. Mobile commerce is increasingly important to merchants, and IVR is designed to be a major driver of this sector."
The success of the test deployment has resulted in an increase in Payment Data's customer base to more than 550.
To learn more about the system or have an online demonstration, please visit: https://www.paymentdata.com/v2/ipspaybyphone.htm
About Payment Data Systems, Inc.
Payment Data Systems, Inc. is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments.
Payment Data Systems, Inc. is the owner of the electronic bill payment portal, https://www.billx.com, which has the ability to transmit payments to thousands of national billers.
Payment Data's intellectual property includes U.S. Patent Number 7,021,530 that relates to bill payments made with debit and stored value cards.
For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at ir@paymentdata.com.