Aggressive investors will want to keep their eyes on Payment Data Systems, Inc.(NASDAQ-OTCBB:PYDS) (OTCBB:PYDS) this morning! Yesterday after the stock markets closed, the company issued a press release announcing that it has signed a multi-year, multi-phase contract with Consumer Credit Counseling Service (CCCS) of Greater San Antonio as well as CCCS of Laredo, a provider of credit-counseling services to the greater part of South Texas including the cities of San Antonio, New Braunfels, Seguin, Del Rio and Laredo!
This could be great news for investors! President and COO of Payment Data Systems Louis Hoch, said, "Our payment processing solutions are well-suited to the needs of debt consolidation and credit counseling centers. Consumer Credit Counseling Service is a nationally-recognized leader in the area of credit services. CCCS Greater San Antonio and Laredo alone process more than $1.5 million in payments each month. We are pleased with the prospects provided by such an important contract with a representative of this market leader. Success with CCCS opens doors to a number of fruitful opportunities with other debt solutions providers nationwide."
This is a company for investors to keep their eye on! Last week, the company issued a press release announcing that it had filed a patent on the industry's first debit card bill payment technology! According to the press release, the technology will enable bill payment using a debit card. In expectation of this patent, Payment Data Systems has entered into a strategic relationship with Secure Cash Network, Inc. to provide the electronic payment industry's first bill payment debit card. The debit card technology for which Payment Data Systems has filed for patent protection, allows a cardholder to use their stored-value Secure Cash Network debit or ATM card to pay local, national or international bills with the card from their electronic balance. Because it does not require linkage to a traditional checking or savings account, this new debit technology is unique in that it allows for use by "unbanked" consumers.
The stock closed yesterday at forty cents a share.
In case you are unfamiliar with the company: Payment Data Systems, Inc.(NASDAQ-OTCBB:PYDS) , is an Integrated Payments Solution Provider delivering comprehensive, cost-effective solutions to billers and retailers for the processing and management of electronic payments via the Internet, point of sale, or payments taken by Customer Service Representatives or an Interactive Voice Response (IVR).
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