SAN ANTONIO, Aug. 08, 2016 (GLOBE NEWSWIRE) -- Payment Data Systems, Inc. (NASDAQ:PYDS), an integrated electronic payments solutions provider, announced today that its Board of Directors has named Louis Hoch CEO. Mr. Hoch will continue his role as President and Vice-Chairman of the Board of Directors and Michael Long will continue his role as Chairman of the Board.

“This is an exciting time to be in the payments space and we have built a powerful platform with loyal customers who appreciate the high level of service we provide,” said Michael Long, Chairman of the Board, Payment Data Systems, Inc. “Louis and I have worked closely for many years; and the Board and I are looking forward to working with him to shape the Company’s growth strategies and create value for our shareholders.”

“We are indeed excited about our opportunities for growth and how we’ve positioned our Company for leadership in our markets,” said Louis Hoch, President and CEO, Payment Data Systems, Inc. “I am looking forward to leading the Company as we execute our growth strategies, continue to drive innovation and improve productivity.”

About Payment Data Systems, Inc.

Payment Data Systems, Inc. (NASDAQ:PYDS), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus and card issuers. The Company operates credit, debit/prepaid and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their 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. Payment Data Systems, Inc. is headquartered in San Antonio, Texas, and has offices in New York, New York; and Los Angeles, California.