SAN ANTONIO, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq:USIO), an integrated electronic payment solutions provider, is mourning the loss of Miguel A. Chapa, a member of Usio’s Board of Directors, who died suddenly on August 19.

“I am deeply saddened by Miguel’s passing,” said Louis Hoch, President and CEO. “For the past five years Miguel has served as an invaluable source of wisdom, knowledge, and inspiration to the Board as well as to everyone at Usio. He will be greatly missed.”

Mr. Chapa joined the Usio Board in 2015 where his skills in business planning, financial analysis, strategic planning, management, negotiations, and leadership have contributed to the company’s success.

In accordance with Nasdaq regulations, the Company will need to replace Mr. Chapa on the Board including the committees on which he served, namely Audit, Compensation, and Nominating and Governance. The Company is actively pursuing qualified candidates and expects to quickly regain Nasdaq compliance.

About Usio, Inc.

Usio, Inc. (Nasdaq:USIO), 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 services 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. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas, and Franklin, Tennessee, just outside of Nashville.