Usio’s Innovative Prepaid Card Solutions Chosen by Oakland DOT to Power Payments for its Universal Basic Mobility Pilot

SAN ANTONIO, Texas, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, today announced that the City of Oakland Department of Transportation (California) has chosen the Company’s proprietary prepaid card technology as the payment solution for its groundbreaking Universal Basic Mobility Pilot.

Louis Hoch, President and Chief Executive Officer of Usio, said, “As the acknowledged leader in electronic payments solutions for guaranteed income programs, we are pleased to have developed innovative technology that will help the Oakland DOT make access to their transportation network more affordable to those in need. Like the numerous other guaranteed income programs we support around the country for governmental entities both large and small, we developed a customized payment solution for Oakland DOT that provides a contemporary payment technology that is responsive to both their needs as well as those of their constituents. I want to thank the Oakland DOT for their confidence in Usio, and we look forward to supporting this very worthy program.”

“Usio provided us with a product that aids our efforts to increase public transit, bikeshare, and e-scooter in Oakland trips using grant funds,” said Quinn Wallace, Parking & Mobility Division, City of Oakland, Department of Transportation. “As our work progresses, Usio continues to be highly responsive and understanding of both our project needs and regulatory context as a public entity, including our privacy policies.”

Under this pilot program, citizens living or working in East Oakland can apply to receive up to $300 that can be used only for transit and shared mobility on a prepaid debit card. Up to 500 participants have been randomly selected from qualified applicants. More on this and similar programs across the United States can be found at: https://www.bloomberg.com/news/articles/2021-11-11/u-s-cities-test-effects-of-universal-basic-mobility?sref=81ZfsQPj

Houston Frost, Senior Vice President-Prepaid Services, added, “For many people, the lack of access to affordable transportation is a barrier to workforce participation. The Oakland Department of Transportation’s Universal Basic Mobility Pilot innovative program attempts to solve that problem. This is another example of how our proprietary prepaid technology simplifies and helps facilitate the implementation of various forms of guaranteed income programs. Usio’s solutions allow for the efficient disbursement of funds, the ability to control how those funds can be used and provides the managers of the program with actionable insight. As guaranteed income programs gain increasing acceptance across the country, Usio will be there with customized solutions that can help these organizations better serve their constituents.”

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, crypto exchanges and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to its clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas and Franklin, Tennessee, just outside of Nashville.
Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook^® and Twitter

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Contact:
Joe Hassett, Investor Relations
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