Usio announces a unique POS credit solution for businesses, implemented without any lending risks for Usio

Usio announces a unique POS credit solution for businesses, implemented without any lending risks for Usio

San Antonio–(work wire) – Usio, Inc. (Nasdaq: USIO), a number one supplier of built-in cost options within the fintech business, at this time introduced the implementation of a brand new point-of-sale credit score resolution, enabling companies to supply immediate credit score to their prospects with out absorbing any of the dangers of shopper lending. .

“Level-of-sale shopper lending is rising quicker than every other unsecured lending, rising from $92 billion in mortgage balances maturing in 2019 to $182 billion in 2023, in accordance with Usio,” stated Louis Hoch, President and CEO of Usio. The Ascent”. . “A brand new point-of-sale lending resolution allows companies to supply immediate point-of-sale credit score to their prospects rapidly and simply, with out the problem of integration or credit score considerations. Any enterprise that offers immediately with prospects on comparatively costly purchases can use this immediate credit score as a possible method to earn Extra enterprise on the level of sale.”

In keeping with The Ascent, the share of people that used the Purchase Now Pay Later service rose 62% throughout all age teams between July 2020 and March 2021, apart from these over 54, which noticed a 98% improve in utilization.

Purchase now and pay later are most popular by customers over utilizing bank cards, in accordance with the Baking Analysis Report on Cost Preferences, revealed in October 2019. For instance, 53% of individuals would somewhat make a $200 buy over 4 interest-free equal funds, Keep away from the excessive curiosity which may be incurred on the bank card throughout that interval. Month-to-month installments come to the fore in bigger buy quantities, with 49% preferring a month-to-month installment cost over a $1,000 buy, and 69% preferring a month-to-month installment cost over a $5,000 buy. Solely 14 to fifteen% choose to make use of a bank card for such massive purchases.

No integration required with Usio’s POS lending resolution. Companies obtain funds quicker, with funds deposited the subsequent day. Level of sale lending improves buyer satisfaction and loyalty, and provides organizations a aggressive benefit by providing prospects versatile cost choices over totally different time durations. Most significantly, companies obtain all the advantages of offering an immediate lending resolution to their prospects with out absorbing any of the dangers.

Customers have the choice to purchase with out curiosity, now and later pay an installment mortgage of 6 weeks or much less, or for longer durations at rates of interest which can be aggressively priced and aggressive available in the market. Income recognition will happen on the service provider stage on the time of the sale, whereas the funds are settled (internet of any related potential bills) the subsequent day.

About Usio, Inc.

Usio, Inc. gives (Nasdaq: USIO), a number one supplier of built-in monetary FinTech cloud-based digital cost options, gives a variety of cost options to retailers, billers, banks, service desks, cryptocurrency exchanges and card issuers. The corporate operates credit score, debit/pay as you go and ACH cost processing platforms to supply handy, world-class cost options and companies to its prospects. The corporate, via its Usio Output Options division, gives companies associated to digital billing, doc era, doc evaluation, and printing and mail companies. The corporate’s power lies in its potential to supply tailor-made options for card issuance, cost acceptance and invoice funds in addition to its distinctive expertise within the pay as you go phase. Usio is headquartered in San Antonio, Texas, with workplaces in Austin, Texas, and Franklin, Tennessee, exterior of Nashville.

Disclaimer of Ahead-Wanting Statements

Apart from the historic data supplied right here, issues mentioned on this launch embrace forward-looking statements lined by protected harbors. This knowledge consists of, however shouldn’t be restricted to, all statements concerning administration’s intentions, perception and expectations, comparable to statements concerning our future, working technique, and progress. These forward-looking statements are recognized by means of phrases comparable to “imagine,” “intend,” “look ahead,” “count on,” “schedule” and “count on,” amongst others. The forward-looking statements on this press launch are topic to sure dangers and uncertainties inherent within the firm’s enterprise that might trigger precise outcomes to vary, together with dangers associated to the financial downturn on account of the COVID-19 pandemic, realizing alternatives from the acquisition of IMS, managing the corporate’s progress, lack of main distributors, relationships with the automated clearinghouse community, financial institution sponsors, third-party card processing suppliers and retailers, safety of our software program, {hardware}, and data, inventory worth volatility, the necessity for added financing, dangers related to new tax laws, compliance with complicated federal, state, and native legal guidelines and rules, and different dangers detailed occasionally within the Firm’s filings with the Securities and Change Fee together with its annual report on Kind 10-Okay for the fiscal yr ending December 31, 2021. A number of of those elements has affected, and sooner or later, might have an effect on the Firm’s enterprise and monetary outcomes sooner or later and will trigger precise outcomes to vary materially from plans and expectations. The Firm believes that the assumptions underlying the forward-looking statements made on this launch will show to be correct. In gentle of the numerous uncertainties inherent within the forward-looking statements included right here, the inclusion of such data shouldn’t be taken as a illustration by us or anybody else that the targets and plans might be achieved. All forward-looking statements on this launch are based mostly on data at the moment accessible to administration. The Firm assumes no obligation to replace any forward-looking statements, besides as required by legislation.

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