Paysign, Inc. (NASDAQ:PAYS), a provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing, announces that its Board of Directors has authorized a new stock repurchase program of up to $5 million of the company’s outstanding common stock, par value $0.001 per share.

This program will commence immediately and is expected to be completed over the next 36 months.

“This new stock repurchase program reflects the board’s and management’s confidence in our improving operating results, future growth prospects and business strategy to continue to create long-term value for our shareholders,” commented Mark Newcomer, Chairman and Chief Executive Officer.

The board’s authorization permits Paysign to repurchase shares from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. The actual timing, number and value of shares repurchased by Paysign under the program will be determined by management at its sole discretion and will depend on a number of factors, including the market price of Paysign’s stock, general market and economic conditions, applicable legal requirements and other cash needs required to operate on a daily basis.

The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity and other factors deemed appropriate.