HENDERSON, Nev. – March 25, 2021 – (Business Wire) – Paysign, Inc. (NASDAQ: PAYS), a leading provider of prepaid card programs, digital banking services, and payment processing, today reported financial results for the fourth-quarter and fiscal year 2020.
“2020 was a difficult year for our business due to the COVID-19 pandemic, as it negatively impacted our clients in the pharma and plasma industries. The month of May marked the low point for our plasma business and we have continued to see improvements throughout the year as states loosen restrictions on businesses. While COVID-19 and government stimulus measures will likely continue to impact our business into 2021, we remain cautiously optimistic that our business will continue to rebound as vaccinations become more prevalent and business restrictions are lifted,” said Paysign CEO Mark Newcomer. “During the year we added 55 new plasma programs and experienced a net growth in card programs of 61. With $7.8 million of unrestricted cash and zero debt on our balance sheet, the company remains well-capitalized and positioned to weather any further impacts from the pandemic.”
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