<SEC-DOCUMENT>0001715762-17-000004.txt : 20170912
<SEC-HEADER>0001715762-17-000004.hdr.sgml : 20170912
<ACCEPTANCE-DATETIME>20170912162618
ACCESSION NUMBER:		0001715762-17-000004
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170901
FILED AS OF DATE:		20170912
DATE AS OF CHANGE:		20170912

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LANDERS VADEN CECIL
		CENTRAL INDEX KEY:			0001715762

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15093
		FILM NUMBER:		171081381

	MAIL ADDRESS:	
		STREET 1:		12500 SAN PEDRO
		STREET 2:		SUITE 120
		CITY:			SAN ANTONIO
		STATE:			X1
		ZIP:			78216

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAYMENT DATA SYSTEMS INC
		CENTRAL INDEX KEY:			0001088034
		STANDARD INDUSTRIAL CLASSIFICATION:	FUNCTIONS RELATED TO DEPOSITORY BANKING, NEC [6099]
		IRS NUMBER:				980190072
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		12500 SAN PEDRO
		STREET 2:		SUITE 120
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
		BUSINESS PHONE:		2102494100

	MAIL ADDRESS:	
		STREET 1:		12500 SAN PEDRO
		STREET 2:		STE 120
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BILLSERV INC
		DATE OF NAME CHANGE:	20011219

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BILLSERV COM INC
		DATE OF NAME CHANGE:	19990607
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>wf-form3_150524796506251.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2017-09-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001088034</issuerCik>
        <issuerName>PAYMENT DATA SYSTEMS INC</issuerName>
        <issuerTradingSymbol>PYDS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001715762</rptOwnerCik>
            <rptOwnerName>LANDERS VADEN CECIL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PAYMENT DATA SYSTEMS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>12500 SAN PEDRO, SUITE 120</rptOwnerStreet2>
            <rptOwnerCity>SAN ANTONIO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78216</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Revenue Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, $0.001 par value per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1815152</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">300,000 of the shares of common stock were issued to the reporting person in connection with the entry into an employment agreement with the issuer. The 300,000 shares of common stock vest on 09/01/2027 or earlier upon a change of control or other events as specified in the employment agreement. The remaining 1,515,152 shares were issued to the reporting owner as a result of the sale of all membership rights in Singular Payments, LLC.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Vaden Landers</signatureName>
        <signatureDate>2017-09-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
