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Payment Data Systems Inc., a San Antonio-based merchant processor and registered independent sales organization, last week reported a net loss of $491,238 for the second quarter ended June 30, nearly $150,000 more than the $343,101 loss it reported for the same period last year. Revenues for the quarter declined 13.5%, to $659,045 from $761,935, the company reported. "The primary contributing factor to the recent decline in revenues is the loss of our largest credit card-processing merchant in the second quarter of this year," Michael R. Long, Payment Data Systems chairman and CEO, said in a statement. The company did not name the lost merchant. Payment Data Systems acquired 27 new merchant accounts during the second quarter and had 363 total merchant accounts as of June 30.
