Total Dollars processed in the second quarter of 2022 were $2.4 billion, once again increasing on a sequential basis

Both dollars and transactions processed in the Company’s Card Segment – including PayFac – were all-time quarterly records

Usio, Inc. (Nasdaq: USIO), a cloud-based, integrated FinTech electronic payment solutions provider, today announced that it processed a total of $2.4 billion dollars in the second quarter of 2022, up 2% sequentially from the first quarter of the year. Both total card dollars and transactions processed in the Company���s Card segment, including PayFac, were all time quarterly records.

Louis Hoch, President and Chief Executive Officer of Usio, said, “We are pleased to have generated sequential growth in total dollars processed in the second quarter and to report record processing performance in our Card segment. Prepaid also continued its strong growth, with transactions processed in the quarter nearly doubling from a year ago. And ACH generated sequential growth, although transaction volume and electronic check dollars processed were down from last year’s cryptocurrency related record performance. Since consumer lending has increased due to a weakened economy, ACH is also showing growth in its well-priced returned check transactions processed services. Output Solutions continues to outperform our internal revenue estimates and is positioned to accelerate growth through a rich pipeline of prospects from our cross-selling activities within our payments client base.”

“Our diversified channel strategy continues to enable us to generate strong growth. In addition, we have a strong new sales pipeline, primarily in our PayFac business, but also with our non-bank lenders, and have over $15 million of potential card spoilage that we expect to start recognizing in September. Moreover, both card and ACH volumes set records in the final month of the quarter, June 2022, with monthly card volumes setting an all-time high and ACH volumes nearly matching our all-time high for a month. Consequently, we are maintaining our outlook of 16% - 20% revenue growth for the year, conditioned on favorable economic conditions.”

Second Quarter 2022 Processing Results

In the quarter, total Card dollars processed exceeded $332 million, with nearly 2.8 million transactions processed, both all-time quarterly records.

Total dollars loaded on prepaid cards was $58 million in the second quarter of 2022.

Total transactions/pieces processed of over 2.1 million.

Total payment dollars processed through all payment channels in the second quarter of 2022 were $2.4 billion, up 2% compared to the first quarter of 2022, but down 12% compared to last year’s record second quarter. Total payment transactions processed in the second quarter of 2022 were 10.35 million.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), a leading, cloud-based, integrated FinTech electronic payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, crypto exchanges, 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 company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. 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. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas, and Franklin, Tennessee, just outside of Nashville.

Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.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 an economic downturn as a result of the COVID-19 pandemic, the realization of opportunities from the IMS 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 the 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, 2021. 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. The Company 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 us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

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