USIO - Usio: Q2 total dollar processed declines 12% Y/Y card segment on record high

• Usio ( NASDAQ: USIO ) reported Tuesday a 2% sequential growth in total dollar processed to $2.4B during Q2 2022; however, down 12% compared to last year’s record second quarter.
• The fintech electronic payment company said total payment transactions processed in the second quarter of 2022 were 10.35M and included following processing results:
• Credit Card Dollars Processed (Including PayFac) was +2% sequentially, +9% year-over-year.
• Credit Card Transactions Processed +5%, +35%.
• Prepaid Card Load Volume -16%, +81%.
• Prepaid Card Transactions Processed -28%, +190%.
• Prepaid Card Purchase Dollars Processed -27%, +76%.
• Electronic Check Transaction Volume +10%, -8%.
• "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," said Usio's President and CEO Louis Hoch.
• Further, the company told it expects over $15M of potential card spoilage to start recognizing in September.
• Earlier: Usio stock drops as Voyager Digital halts trading

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