<SEC-DOCUMENT>0001772093-19-000002.txt : 20190403
<SEC-HEADER>0001772093-19-000002.hdr.sgml : 20190403
<ACCEPTANCE-DATETIME>20190403160604
ACCESSION NUMBER:		0001772093-19-000002
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190401
FILED AS OF DATE:		20190403
DATE AS OF CHANGE:		20190403

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bender Blaise
		CENTRAL INDEX KEY:			0001772093

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15093
		FILM NUMBER:		19729012

	MAIL ADDRESS:	
		STREET 1:		3611 PAESANOS PARKWA
		STREET 2:		SUITE 300
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78231

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_155432194959232.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2019-04-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001772093</rptOwnerCik>
            <rptOwnerName>Bender Blaise</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PAYMENT DATA SYSTEMS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>3611 PAESANOS PARKWAY, SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>SAN ANTONIO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78231</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>22223</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2029-04-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>44444.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The shares of common stock represent the first tranche of 22,223 restricted stock units that were granted to Mr. Bender on April 1, 2019 in connection with his appointment to the Issuer's board of directors, and that vested on April 1, 2019.</footnote>
        <footnote id="F2">Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.</footnote>
        <footnote id="F3">The restricted stock units vest in two tranches: 22,222 units vest on April 1, 2020 and 22,222 units vest on April 1, 2021.</footnote>
        <footnote id="F4">The restricted stock units were issued pursuant to the Issuer's 2015 Equity Incentive Plan in connection with Mr. Bender's appointment to the Issuer's board of directors.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Blaise C. Bender</signatureName>
        <signatureDate>2019-04-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
