Usio’s Card Issuing Platform Enables MOBILEMONEY’S Innovative Reverse ATM Kiosks to Issue Hundreds of Thousands of Cards at Cashless Venues and Events

Usio, Inc. (NASDAQ: USIO), a leading FinTech company that operates a full stack, cloud-based payment platform supporting integrated acceptance and card issuing solutions, provides the following update on its partnership with MOBILEMONEY. A trailblazer in the mobile financial services industry, MOBILEMONEY provides kiosks, hardware, software, installation, on-site training, cash management, and back-end administrative support to a variety of markets including convenience stores, special events, gaming facilities, hospitality, and other businesses throughout the country. Their experience and client base demonstrate Usio’s commitment and ability to support unique financial solutions that serve specialized markets.

In 2021, MOBILEMONEY chose Usio’s proprietary card issuing platform to power its self-service kiosks that enable cashless transactions. Since the launch, MOBILEMONEY’S kiosks have issued approximately 470,000 cards, resulting in dollar transaction processing volume that grew 600% in 2023. Our recently expanded partnership powers MOBILEMONEY kiosks to disburse reloadable card accounts with plans to further expand the partnership by supporting virtual card issuance. The continued collaboration will enhance customer convenience and accessibility by enabling a novel combination of physical and virtual card issuance.

A growing number of venues are moving toward cashless transactions, a trend which accelerated during the pandemic. The trend has continued with venues recognizing cashless payments speed transactions and increase customer spend. MOBILEMONEY'S reverse ATM kiosks enable consumers without a credit or debit card the ability to convert cash to a prepaid card they can then use to purchase food, merchandise and sundries at the growing number of events and locations that only accept cashless transaction.

Louis Hoch, CEO of Usio, expressed excitement about the ongoing collaboration stating, "At Usio, we are proud to partner with MOBILEMONEY and support the development and deployment of their innovative electronic payment solutions. The success of the initial reverse ATM kiosk program highlights the versatility of our card issuing platform and the impact we are making in mobile financial services. We are committed to fostering evolution in digital payments, and the expansion into General Purpose Reloadable and Virtual Prepaid Cards illustrates a key element of our growth strategy - strategic partnerships with innovative clients, such as MOBILEMONEY, that help support their growth."