Transax International Limited Reports Record Transaction Volume for January 2005

Wednesday 9 February 2005 09:39 CET | News

Transax International Limited has announced that it has processed and recorded record transaction volume for January 2005 completing 390,000 real time transactions.

The volume for January 2005 represents a 30% increase from December 2004 transaction volume and a 170% increase from transaction volumes recorded in January 2004. During the month of January 2005, Transax additionally completed a record number of POS (Point of Sale) installations with 265 POS solutions being installed into medical provider locations including 152 overlapping POS solutions whereby a single POS unit is used by multiple insurers, thereby increasing the profitability of the unit. Transax plans to install a further 600 POS installations into medical provider locations prior to the end of the first quarter 2005. During January 2005, Transax also processed and recorded 125,000 real time lab-server transactions compared with 35,000 transactions in January 2004. Transax expects its wholly-owned Brazilian subsidiary to have integrated all of the major medical laboratories in Brasil to collect real time transactions by end of third quarter 2005. Transax expects to achieve favorable sequential quarterly double digit revenue growth during 2005. Volumes are expected to increase from approximately 400,000 real time transactions per month at the end of January 2005 to over 1 million real time transactions per month by December 2005 based on currently signed contracts only. The addition of the companys potential USA business is expected to significantly increase transaction volume and revenues in the second half of 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce