Have You Ever Heard of the UNBANKED? The Unbanked Represent an Important Opportunity for PYDS

by | Jan 22, 2012 | StockGuru

Payment Data Systems (OTCBB: PYDS)


Dear Members,

 

Have You Ever Heard of the ‘UNBANKED’? The Unbanked Represent an Important Opportunity for PYDS


The Unbanked and Other Market Opportunities

The Unbanked and Other market Opportunities

There are considerable growth opportunities left in the merchant acquiring segment of their business.  This growth will come for the continued selling of their value added payment services into their market of large billers or through the effective execution of our acquisition strategy.

However it would appear that the “new” market opportunity is within the prepaid card market.  This market of particular interest due to the fact there an estimated 53 million Americans that are unbanked and an additional 109 million are under banked (Source: MRI data).

The Pelorus Group has suggested that the significant growth will occur in use of prepaid debit cards, especially in the form of prepaid cash and payroll cards.  Average reload of a prepaid debit card is now $350, which mirrors the average amount of spending per month on a credit card.

Additional research suggests the following:

  • An estimate suggests there are over 22 million cards in circulation and the number is expected to
    grow to 540 million cards by 2014.
  • By year-end 2010, analysts predicted the prepaid market will exceed $71 billion in dollar volume.
  • Increased use of prepaid products and already high use of credit and debit cards has led to a
    decrease in the amount of cash or checks used for consumer purchases from 80% in 1994 to 66%
    today.

The large amount of unbanked and under banked consumers also represents a sizable Hispanic market which they plan to serve through focused prepaid card programs.   Many of their programs are highly attractive to the unbanked and under banked ethnic communities.  An example would be the Hispanic community.

The following attributes can be attributed to that group:

  • An estimated 40 million Hispanics in U.S. plus an estimated 12 million undocumented.
  • An estimated $17 to $20 billion is transferred from the U.S. To Mexico each year.  This figure is
    actually higher, since it does not include monies transferred cross-border to Mexico by hand.
  • Total estimated amount for all of Latin America and the Caribbean is $53.6 billion
  • Western Union and MoneyGram are the primary conduits, plus a hand full of smaller services.

Thank you!

John Pentony
Publisher, StockGuru.com

Thank you!

John Pentony
Publisher, StockGuru.com

 

 

StockGuru’s Profile for Payment Data Systems

This is the condensed version – Full StockGuru Profile Found Here:
http://stockguru.com/about/pyds/

Payment Data Systems (OTCBB: PYDS)

A Look at the History of Payment Data Systems:

Payment Data Systems was formed in 2003 as a payment processor with a focus to deliver payment services to large merchants that have recurring billing.  Today, Payment Data Systems processes payments and delivers bill payments for some of the largest companies in the United States.  Payment Data Systems is a network independent level one payment processor holding the highest level of certifications from the card associations.

Payment Data processes payments has over 1,000 corporate clients including many churches, insurance, utilities, charities, apartment complexes, senior living facilities and eCommerce companies.

Payment Data securely processes multi-million dollars of payment transactions each month.  Payment Data has proprietary technology and systems that gives the company a competitive advantage in the marketplace.

 Payment Data considers itself to be a company that can provide a seamless and comprehensive set of products and services for virtually any payment opportunity with multiple entry points for services.

PYDS: A Leader in Mobile Payments

Payment Data System expects to become a leader in mobile payments through its development of the iRemotepay application for the iPhone, iTouch and iPad. 

 

Michael Long, CEO, said, “The fourth quarter was a tremendous quarter for us. Our ACH processing volumes more than doubled the dramatic growth we experienced in the third quarter and December’s credit card processing was the best month in the history of the company. This growth has led to a dramatic, positive increase in revenues, gross profit, operating income and net income both for the fourth quarter and the year. We look forward to reporting record earnings for 2011.” 

 

This is the condensed version – Full StockGuru Profile Found Here:
http://stockguru.com/about/pyds/

Contact Payment Data Systems (OTCBB: PYDS)

Payment Data Systems (OTCBB: PYDS)

 

 

 


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