Payment Data Systems saw a record profits in December

Payment Data Systems, Inc. announced a review of its credit card processing volumes for the fourth quarter. The processing has been carried out on an unaudited basis. 

Dollars processed have increased 25% in December against the rates shown for November. Transactions processed have grown 11% from the outcomes of the previous month. Moreover, December’s dollar volume has been declared to be the highest among the months of 2008. 

In the forth quarter the volume of dollars processed has increased 21% comparing to the third quarter. On the other hand, the volume of transactions processed has raised 20% in comparison with the previous quarter. 

Michael R. Long, Chairman and Chief Executive Officer of Payment Data Systems, commented on the news by saying that the result that the company has shown demonstrates company’s ability to grow organically. “Furthermore, I believe we can also surmise from these results that our targeted marketing strategy has resulted in a customer base that is reasonably insulated from the current overall economic environment,” he added.