<SEC-DOCUMENT>0001437749-25-021033.txt : 20250623
<SEC-HEADER>0001437749-25-021033.hdr.sgml : 20250623
<ACCEPTANCE-DATETIME>20250623160242
ACCESSION NUMBER:		0001437749-25-021033
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20250623
DATE AS OF CHANGE:		20250623
EFFECTIVENESS DATE:		20250623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Usio, Inc.
		CENTRAL INDEX KEY:			0001088034
		STANDARD INDUSTRIAL CLASSIFICATION:	FUNCTIONS RELATED TO DEPOSITORY BANKING, NEC [6099]
		ORGANIZATION NAME:           	02 Finance
		EIN:				980190072
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-288230
		FILM NUMBER:		251064936

	BUSINESS ADDRESS:	
		STREET 1:		3611 PAESANOS PARKWAY
		STREET 2:		SUITE 300
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78231
		BUSINESS PHONE:		2102494100

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Payment Data Systems Inc
		DATE OF NAME CHANGE:	20190502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAYMENT DATA SYSTEMS INC
		DATE OF NAME CHANGE:	20030812

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BILLSERV INC
		DATE OF NAME CHANGE:	20011219
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>usio20250612_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
<html><head>
	<title>usio20250612_s8.htm</title>
	<!-- Generated by ThunderDome Portal - 6/23/2025 5:34:16 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>As filed with the Securities and Exchange Commission on June 23, 2025</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>Registration No. 333-</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Form S-8</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>REGISTRATION STATEMENT UNDER</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>THE SECURITIES ACT OF 1933</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>USIO, INC.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact name of registrant as specified in its charter)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:middle;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Nevada</b></p>
			</td>
			<td style="vertical-align:middle;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>98-0190072</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(State or other jurisdiction of</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">incorporation or organization)</p>
			</td>
			<td style="vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(I.R.S. Employer</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Identification No.)</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td style="vertical-align:middle;width:auto;">&nbsp;</td>
		</tr>
		<tr>
			<td colspan="2" style="vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>3611 Paesanos Parkway, Suite 300</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>San Antonio, TX</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>78231</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(210) 249-4100</b></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><i>(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant</i>&#8217;<i>s Principal Executive Offices)</i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:66%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:80.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Usio, Inc.</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>2025 Comprehensive Equity Incentive Plan</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:80.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(Full Title of the Plan)</b></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Louis A. Hoch</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Chairman of the Board, President, Chief Executive </b><br>
<b>Officer and Chief Operating Officer</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>3611 Paesanos Parkway, Suite 300</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>San Antonio, TX</b>&nbsp;<b>78231</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(210)</b>&nbsp;<b>249-4100</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)</i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;text-indent:-1pt;"><i>Copies to: </i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;text-indent:-1pt;"><b>Steven R. Jacobs </b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;text-indent:-1pt;"><b>Jackson Walker LLP</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 25pt;text-indent:-1pt;"><b>1900 Broadway, Suite 1200</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 6pt;text-indent:-1pt;"><b>San Antonio, Texas 78205</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 19pt;text-indent:-1pt;"><b><sub>210-978-7700</sub></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:-1pt;">Indicate by check mark whether the registrant is a large, accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large, accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act of 1934, as amended.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:82%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:37.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Large-accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:2.2%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;width:18.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:39.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 22pt;">Accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:2.2%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:37.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Non-accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:2.2%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9745;</p>
			</td>
			<td style="vertical-align:top;width:18.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:39.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Smaller reporting company</p>
			</td>
			<td style="vertical-align:top;width:2.2%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9745;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:37.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:2.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:18.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:39.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 1pt;">Emerging growth company</p>
			</td>
			<td style="vertical-align:top;width:2.2%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;text-indent:9pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#61551;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<hr style="height: 3px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 0 0 3pt 0">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;text-indent:36pt;"><b>PART II</b><br>
<br>
<b>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The following documents, which previously have been filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;), are incorporated herein by reference and made a part hereof:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 65pt;text-indent:-29pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#8217;s latest annual report filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), that contains audited financial statements for the Registrant&#8217;s latest fiscal year for which such statements have been filed:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

		<tr>
			<td style="width:63pt;">&nbsp;</td>
			<td style="vertical-align:top;width:18pt;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">our Annual Report on <a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/0001088034/000143774925009368/usio20241231_10k.htm" style="-sec-extract:exhibit;"><u>Form 10-K</u></a>&nbsp;for the year ended December 31, 2024, filed on March 26, 2025;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 65pt;text-indent:-29pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the document referred to in (a) above:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

		<tr>
			<td style="width:63pt;">&nbsp;</td>
			<td style="vertical-align:top;width:18pt;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">our Quarterly Report on <a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/0001088034/000143774925016823/usio20250331_10q.htm" style="-sec-extract:exhibit;"><u>Form 10-Q</u></a>&nbsp;for the quarter ended March 31, 2025, filed with the SEC on May 14, 2025;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

		<tr>
			<td style="width:63pt;">&nbsp;</td>
			<td style="vertical-align:top;width:18pt;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">our Current Reports on <a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/0001088034/000143774925006298/usio20250304_8k.htm" style="-sec-extract:exhibit;"><u>Form 8-K</u></a>&nbsp;filed on March 5, 2025 (as amended on March 11, 2025), June 5, 2025 and June 11, 2025 <a href="http://www.sec.gov/Archives/edgar/data/1088034/000143774920021830/usio20201027_8k.htm" style="-sec-extract:exhibit;">;</a>&nbsp;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

		<tr>
			<td style="width:63pt;">&nbsp;</td>
			<td style="vertical-align:top;width:18pt;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">the information specifically incorporated by reference into our Annual Report on Form 10-K for the year ended December 31, 2024, from our <a href="http://www.sec.gov/Archives/edgar/data/1088034/000143774925013907/usio20250428_def14a.htm" style="-sec-extract:exhibit;"><u>Proxy Statement</u></a>&nbsp;relating to our 2025 annual meeting of stockholders, which was filed with the SEC on April 30, 2025.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 65pt;text-indent:-29pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;our Registration Statement on&nbsp;<a href="http://www.sec.gov/Archives/edgar/data/1088034/000117184315004364/gff8a12b_080415.htm" style="-sec-extract:exhibit;"><u>Form 8-A&nbsp;</u></a>as filed with the SEC on August 5, 2015 as updated by the description of our common stock filed as&nbsp;<a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/0001088034/000143774923005794/usio20221231_10k.htm" style="-sec-extract:exhibit;"><u>Exhibit 4.1</u></a>&nbsp;to our Annual Report on Form 10-K for the year ended December 31, 2022.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Notwithstanding the foregoing, information that we elect to furnish, but not file, or have furnished, but not filed, with the Commission in accordance with Commission rules and regulations is not incorporated into this Registration Statement, shall not be deemed &#8220;filed&#8221; under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), and does not constitute a part hereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">All documents filed by us with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, subsequent to the date hereof and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or that deregisters all securities then remaining unsold, shall hereby be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document incorporated or deemed to be incorporated herein by reference modifies or supersedes such statement. Any statement contained herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any subsequently filed document incorporated or deemed to be incorporated herein by reference modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;"><b>Item 4.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Description of Securities.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Not applicable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;"><b>Item 5.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Interests of Named Experts and Counsel.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Not applicable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;"><b>Item 6.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Indemnification of Directors and Officers.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">The Registrant is a Nevada corporation. Subsection 7 of Section 78.138 of the Nevada Revised Statutes (the &#8220;Nevada law&#8221;) provides that, subject to certain limited statutory exceptions, or unless the articles of incorporation or an amendment thereto, in each case filed on or after October 1, 2003, provide for greater individual liability, a director or officer is not individually liable to the corporation or its stockholders or creditors for any damages as a result of any act or failure to act in his or her capacity as a director or officer, unless the presumption established by subsection 3 (under which directors and officers are presumed to act in good faith on an informed basis and with a view to the interest of the corporation) has been rebutted and it is proven that the director&#8217;s or officer&#8217;s act or failure to act constituted a breach of his or her fiduciary duties as a director or officer and such breach involved intentional misconduct, fraud or a knowing violation of law.&nbsp; The statutory standard of liability established by Section 78.138 controls even if there is a conflicting provision in the corporation&#8217;s articles of incorporation unless an amendment to Usio&#8217;s Articles of Incorporation were to provide for greater individual liability.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Subsection 1 of Section 78.7502 of the Nevada law empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise or as a manager of a limited liability company (any such person, a &#8220;Covered Person&#8221;), against expenses, including attorneys&#8217; fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by the Covered Person in connection with the action, suit or proceeding if the Covered Person (a) is not liable pursuant to NRS 78.138; or (b) acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the conduct was unlawful.&nbsp; The termination of any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, does not, of itself, create a presumption that the Covered Person is liable pursuant to NRS 78.138 or did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the corporation, or that, with respect to any criminal action or proceeding, he or she had reasonable cause to believe that the conduct was unlawful.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Subsection 2 of Section 78.7502 of the Nevada law empowers a corporation to indemnify any Covered Person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the Covered Person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise or as a manager of a limited-liability company, against expenses, including amounts paid in settlement and attorneys&#8217; fees actually and reasonably incurred by the Covered Person in connection with the defense or settlement of the action or suit if the Covered Person (a) is not liable pursuant to NRS 78.138; or (b) acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the corporation.&nbsp; Indemnification pursuant to this section may not be made for any claim, issue or matter as to which such Covered Person has been adjudged by a court of competent jurisdiction, after exhaustion of any appeals taken therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the Covered Person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Section 78.7502 of the Nevada law further provides that any discretionary indemnification pursuant to Section 78.7502, unless ordered by a court or advanced pursuant to subsection 2 of Section 78.751, may be made by the corporation only as authorized in each specific case upon a determination that the indemnification of a director, officer, employee or agent of a corporation is proper under the circumstances. The determination must be made by:</p>

<p style="margin: 0pt 0pt 0pt -9pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-19pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The stockholders;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-19pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors, by majority vote of a quorum consisting of directors who were not parties to the action, suit or proceeding; or</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-19pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Independent legal counsel, in a written opinion, if:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 54pt;text-indent:-19pt;">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A majority vote of a quorum consisting of directors who were not parties to the action, suit or proceeding so orders; or</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 54pt;text-indent:-19pt;">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A quorum consisting of directors who were not parties to the action, suit or proceeding cannot be obtained.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Subsection 1 of Section 78.751 of the Nevada law provides that a corporation shall indemnify any person who is a director, officer, employee or agent to the extent that the person is successful on the merits or otherwise in defense of (a) any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative including, without limitation, an action by or in the right of the corporation, by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise; or (b) any claim, issue or matter therein, against expenses actually and reasonably incurred by the person in connection with defending the action including, without limitation, attorney&#8217;s fees.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Subsection 2 of Section 78.751 of the Nevada law provides that unless otherwise restricted by the articles of incorporation, the bylaws or an agreement made by the corporation, the corporation may pay the expenses of officers and directors incurred in defending a civil or criminal action, suit or proceeding as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction that the director or officer is not entitled to be indemnified by the corporation. The articles of incorporation, the bylaws or an agreement made by the corporation may require the corporation to pay such expenses upon receipt of such an undertaking. The provisions of this subsection do not affect any rights to advancement of expenses to which corporate personnel other than directors or officers may be entitled under any contract or otherwise by law.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Subsection 3 of Section 78.751 of the Nevada law provides that indemnification pursuant to Section 78.7502 of the Nevada law and the advancement of expenses authorized in or ordered by a court pursuant to this Section 78.7502 (a)&nbsp;does not exclude any other rights to which a person seeking indemnification or advancement of expenses may be entitled under the articles of incorporation or any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, for either an action in the person&#8217;s official capacity or an action in another capacity while holding office, except that indemnification, unless ordered by a court pursuant to NRS 78.7502 or for the advancement of expenses made pursuant to subsection 2, may not be made to or on behalf of any director or officer finally adjudged by a court of competent jurisdiction, after exhaustion of any appeals taken therefrom, to be liable for intentional misconduct, fraud or a knowing violation of law, and such misconduct, fraud or violation was material to the cause of action and (b)&nbsp;continues for a person who has ceased to be a director, officer, employee or agent and inures to the benefit of the heirs, executors and administrators of such a person.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Section 78.752 of the Nevada law empowers a corporation to purchase and maintain insurance or make other financial arrangements on behalf of a Covered Person for any liability asserted against such person and liabilities and expenses incurred by such person in his or her capacity as a Covered Person or arising out of such person&#8217;s status as a Covered Person whether or not the corporation has the authority to indemnify such person against such liability and expenses.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Our amended and restated bylaws, as amended, provide for indemnification of Covered Persons substantially identical in scope to that permitted under the Nevada law. Such bylaws provide that the expenses of directors and officers of Usio incurred in defending any action, suit or proceeding, whether civil, criminal, administrative or investigative, must be paid by Usio as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of such director or officer to repay all amounts so advanced if it is ultimately determined by a court of competent jurisdiction that the director or officer is not entitled to be indemnified by Usio.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Usio has a contract for insurance coverage under which Usio and certain Covered Persons (including the directors and officers of Usio) are covered under certain circumstances with respect to litigation and other costs and liabilities arising out of actual or alleged misconduct of such Covered Persons.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">The above-described provisions of the Nevada law relating to the indemnification of directors and officers do not prohibit the indemnification of such persons in certain circumstances against liabilities (including reimbursement of expenses incurred) arising under the Securities Act.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt -9pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt -1pt; text-indent: 37pt;">Insofar as indemnification for liabilities under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;"><b>Item 7.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Exemption from Registration Claimed.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Not Applicable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;"><b>Item 8.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Exhibits.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>No.</b></p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><b>Description</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">&nbsp;</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">3.1</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="http://www.sec.gov/Archives/edgar/data/1088034/000123174206000226/ex31.txt" style="-sec-extract:exhibit;">Amended and Restated Articles of Incorporation (included as Exhibit 3.1 of the Company&#8217;s Annual Report on Form 10-KSB filed March 31, 2006, and incorporated herein by reference).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">3.2</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="http://www.sec.gov/Archives/edgar/data/1088034/000135448807000601/pdsdef14c.htm" style="-sec-extract:exhibit;">Amendment to Restated Articles of Incorporation (included as Exhibit A to the Schedule 14C filed April 18, 2007, and incorporated herein by reference)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">3.3</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="http://www.sec.gov/Archives/edgar/data/1088034/000117184315004010/exh_31.htm" style="-sec-extract:exhibit;">Certificate of Change pursuant to Nevada Revised Statutes Section 78.209, as filed by the Company with the Secretary of State of the State of Nevada on July 20, 2015 (included as Exhibit 3.1 to Current Report on Form&nbsp;8-K filed July 23, 2015, and included herein by reference)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">3.4</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="http://www.sec.gov/Archives/edgar/data/1088034/000108803419000029/pydsnvcertofamendmentnam.htm" style="-sec-extract:exhibit;">Certificate of Amendment pursuant to Nevada Revised Statutes Section 78.385 and 78.390, as filed by the Company with the Secretary of State of the State of Nevada on June 14, 2019 (included as Exhibit 3.1 to Current Report on Form 8-K filed July 1, 2019, and included herein by reference).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">3.5</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="http://www.sec.gov/Archives/edgar/data/1088034/000143774923033410/ex_597572.htm" style="-sec-extract:exhibit;">Amended and Restated By-laws (included as Exhibit 3.1 to the Form 8-K filed December 1, 2023, and incorporated herein by reference).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">5.1*</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="ex_830248.htm" style="-sec-extract:exhibit;">Opinion of Jackson Walker L.L.P.</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">10.1</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="http://www.sec.gov/Archives/edgar/data/1088034/000143774925013907/usio20250428_def14a.htm" style="-sec-extract:exhibit;">Usio, Inc. Comprehensive 2020 Equity Incentive Plan (Filed as Annex A to the Registrant&#8217;s 2025 Proxy Statement filed on April 30, 2025).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">23.1*</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;"><a href="ex_830249.htm" style="-sec-extract:exhibit;">Consent of ADKF, P.C.</a></td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">23.2*</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="ex_830250.htm" style="-sec-extract:exhibit;">Consent of PKF,&nbsp;P.C.</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">23.3*</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="ex_830248.htm" style="-sec-extract:exhibit;">Consent of Jackson Walker L.L.P. (included in the opinion filed as Exhibit 5.1 hereto).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">24.1*</p>
			</td>
			<td style="vertical-align:top;width:0.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="#PoA" style="-sec-extract:exhibit;">Power of Attorney (included on the signature page of this Registration Statement).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:3.8%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">107.1*</p>
			</td>
			<td style="vertical-align:top;width:0.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:51.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 1pt;"><a href="ex_830251.htm" style="-sec-extract:exhibit;">Calculation of Filing Fees Table</a></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">_______________</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-18pt;">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed herewith</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-36pt;">Item 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Undertakings.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-18pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant undertakes the following:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 65pt;text-indent:-29pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 95pt;text-indent:-29pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any prospectus required by Section 10(a)(3) of the Securities Act;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 95pt;text-indent:-29pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective Registration Statement;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 95pt;text-indent:-29pt;">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><i>Provided, however,</i> that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the registration statement is on Form S-8 and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 65pt;text-indent:-29pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <i>bona fide</i> offering thereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 65pt;text-indent:-29pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-18pt;">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <i>bona fide </i>offering thereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-18pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:-18pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><a id="PoA" name="PoA"></a>SIGNATURES</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Antonio, State of Texas, on June 23, 2025.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 741.109px; margin-left: auto; margin-right: 0pt;">

		<tr>
			<td style="vertical-align: middle; width: 12%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 88%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 12%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">USIO, INC.</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 12%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 0%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 12%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">By:</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0%;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 88%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Louis A. Hoch</i></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 12%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 88%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Louis A. Hoch,</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chairman of the Board, President, Chief Operating Officer and Chief Executive Officer</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 12%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 0%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:37pt;"><b>KNOW ALL PERSONS BY THESE PRESENTS</b>, that each person whose signature appears below hereby constitutes and appoints Louis A. Hoch and Michael White, and each of them individually, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to sign any registration statement for the same offering covered by this registration statement that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them acting alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:37pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:37pt;">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 33%; text-align: center;">Signature</td>
			<td style="width: 33%; text-align: center;">Title</td>
			<td style="width: 33%; text-align: center;">Date</td>
		</tr>
		<tr>
			<td style="width: 33%;"><i><u>/s/ Louis A. Hoch</u></i></td>
			<td style="width: 33%;">Chairman of the Board, President, Chief Executive &amp; Chief Operating Officer</td>
			<td style="width: 33%;">June 23, 2025</td>
		</tr>
		<tr>
			<td>Louis A. Hoch</td>
			<td>(Principal Executive Officer)</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><u>/</u><i><u>s/ Michael White</u></i></td>
			<td>Senior Vice President and Chief Accounting Officer</td>
			<td>June 23, 2025</td>
		</tr>
		<tr>
			<td>Michael White</td>
			<td>(Principal Financial Officer and Principal Accounting Officer)</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><i><u>/s/ Blaise C. Bender</u></i></td>
			<td>Director</td>
			<td>June 23, 2025</td>
		</tr>
		<tr>
			<td>Blaise C. Bender</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><i><u>/s/ Ernesto Beyer</u></i></td>
			<td>Director</td>
			<td>June 23, 2025</td>
		</tr>
		<tr>
			<td>Ernesto Beyer</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><i><u>/s/ Bradley Rollins </u></i></td>
			<td>Director</td>
			<td>June 23, 2025</td>
		</tr>
		<tr>
			<td>Bradley Rollins</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><i><u>/s/ Michelle Miller </u></i></td>
			<td>Director</td>
			<td>June 23, 2025</td>
		</tr>
		<tr>
			<td>Michelle Miller</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>INDEX TO EXHIBITS</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:middle;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:1.1%;">&nbsp;</td>
			<td style="vertical-align:middle;width:48.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:4.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>No.</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:48.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Description</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:4.1%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:49.3%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">5.1*</p>
			</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><a href="ex_830248.htm" style="-sec-extract:exhibit;">Opinion of Jackson Walker L.L.P.</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">23.1*</p>
			</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><a href="ex_830249.htm" style="-sec-extract:exhibit;">Consent of ADKF P.C.</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">23.2*</p>
			</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><a href="ex_830250.htm" style="-sec-extract:exhibit;">Consent of&nbsp;PKF, P.C.</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">23.3*</p>
			</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><a href="ex_830248.htm" style="-sec-extract:exhibit;">Consent of Jackson Walker L.L.P. (included in the opinion filed as Exhibit 5.1 hereto).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">24.1*</p>
			</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><a href="#PoA" style="-sec-extract:exhibit;">Power of Attorney (included on the signature page of this Registration Statement).</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:4.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">107.1*</p>
			</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:48.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><a href="ex_830251.htm" style="-sec-extract:exhibit;">Calculation of Filing Fees Table</a></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">_______________</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:-18pt;">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed herewith</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div>&nbsp;</div>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ex_830248.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html><head>
	<title>ex_830248.htm</title>
	<!-- Generated by ThunderDome Portal - 6/23/2025 5:33:36 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 5.1</b></font></p>

<div><img alt="jwllp.jpg" src="jwllp.jpg"></div>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">June 23, 2025</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Usio, Inc.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">3611 Paesanos Parkway, Suite 300</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">San Antonio, TX 78231</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 72pt;text-indent:-36pt;">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Usio, Inc. 2025 Comprehensive Equity Incentive Plan</u></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Dear Ladies and Gentlemen:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">We have acted as counsel to Usio, Inc., a Nevada corporation (the &#8220;Company&#8221;), in connection with its Registration Statement on Form S-8 (the &#8220;Registration Statement&#8221;) filed under the Securities Act of 1933, as amended (the &#8220;Act&#8221;), relating to the registration of the offer and sale of up to 5,250,000 shares (the &#8220;Shares&#8221;) of its Common Stock, par value $0.001 per share (&#8220;Common Stock&#8221;), reserved for issuance under the Usio, Inc. 2025 Comprehensive&nbsp; Equity Incentive Plan (the&nbsp;&#8220;Plan&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">We have examined and relied upon the originals or certified copies of all documents, certificates and instruments as we have deemed necessary for the purposes of the opinions expressed herein, including the Registration Statement, the Amended and Restated Certificate of Incorporation and the Amended and Restated Bylaws of the Company in effect as of the date hereof, certain resolutions adopted by the Board of Directors and the stockholders of the Company and copies of the Plan. In making the foregoing examinations, we have assumed the genuineness of all signatures on original documents, the authenticity of all documents submitted to us as originals and the conformity to original documents of all copies submitted to us, and the legal competence of all signatories to such documents.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">We have assumed that (i)&nbsp;at the time of issuance of any Shares, there shall be a sufficient number of duly authorized and unissued shares of Common Stock to accommodate such issuance; (ii)&nbsp;appropriate action will be taken to register and qualify the Shares for sale under all applicable state securities laws; (iii)&nbsp;the Shares to be sold will be issued in accordance with the terms of the Plan; (iv)&nbsp;the Company will receive the full consideration for any Shares issued pursuant to the Plan; and (v)&nbsp;the per share consideration for each Share will include payment of cash or other lawful consideration at least equal to the par value of the Company&#8217;s Common Stock. It is understood that this opinion is to be used only in connection with the offer and sale of the Shares pursuant to the Registration Statement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">Based solely upon the foregoing, and subject to the qualifications, assumptions and other statements set forth herein, it is our opinion that the Shares have been duly authorized, and when issued and delivered in accordance with the terms of the Plan, will be validly issued, fully paid and nonassessable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">We express no opinion as to the law of any jurisdiction other than the general corporate laws of the State of Nevada. The reference and limitation to the &#8220;general corporate laws of the State of Nevada&#8221; includes the statutory provisions of Chapter 78 of the Nevada Revised Statutes and all applicable provisions of the Nevada Constitution and reported judicial decisions interpreting these laws. We express no opinion to the extent any other laws are applicable to the subject matter hereof and express no opinion and provide no assurance as to compliance with any federal or state securities law, rule or regulation. We express no opinion as to any matter other than as set forth herein, and no opinion may be inferred or implied herefrom. The opinion expressed herein is given as of this date, and we do not undertake to supplement this opinion with respect to any events or changes occurring subsequent to the date of this letter.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">We hereby consent to the use of this opinion as an Exhibit to the Registration Statement. In giving this consent, we do not admit that we come within the category of persons whose consent is required under Section&nbsp;7 of the Act or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;margin-left:auto;margin-right:0pt;">

		<tr>
			<td style="vertical-align:middle;width:103.4%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:103.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Very truly yours,</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:103.4%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:103.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Jackson Walker L.L.P.</i></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:103.4%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:103.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Jackson Walker L.L.P.</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>JW | SAN ANTONIO</b></p>
			</td>
			<td style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">1900 Broadway, Suite 1200&nbsp;&nbsp;&#8226;&nbsp;&nbsp;San Antonio, Texas 78215</p>
			</td>
			<td style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">|&nbsp;&nbsp;&nbsp;www.jw.com&nbsp;&nbsp;| &nbsp;&nbsp;Member of GLOBALAW&#8482;</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>ex_830249.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<html><head>
	<title>HTML Editor</title>
	<meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; padding:0in .1in;">
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt; text-align: center;"><u><b>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</b></u></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt;"><br>
Usio, Inc.<br>
San Antonio, Texas</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt;"><br>
We hereby consent to the inclusion in this Registration Statement on Form S-8 of Usio, Inc. of our audit report dated March 27, 2024, with respect to the consolidated financial statements of Usio, Inc. included in the Annual Report (Form 10-K) for the year ended December 31, 2023.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt;"><br>
<u>/s/ ADKF, P.C.</u></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 8pt;">ADKF, P.C.<br>
San Antonio, Texas<br>
June 23, 2025</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>ex_830250.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<html><head>
	<title>HTML Editor</title>
	<meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; padding:0in .1in;">
<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 23.2</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;"><b>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">We consent to the incorporation by reference in the Registration Statement on Form S-8&nbsp;of our report dated March 26, 2025, with respect to the consolidated financial statements of Usio, Inc. as of and for the year ended December 31, 2024.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">/s/ Pannell Kerr Forster of Texas, P.C.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Houston, Texas</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">June 23, 2025</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>5
<FILENAME>ex_830251.htm
<DESCRIPTION>EXHIBIT FILING FEES
<TEXT>
<html><head>
	<title>ex_830251.htm</title>
	<!-- Generated by ThunderDome Portal - 6/23/2025 5:33:00 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit FILING FEES.</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>Calculation of Filing Fee Tables</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>Form</b>&nbsp;<b>S-8</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Form Type)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>USIO, INC.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact Name of Registrant as Specified in its Charter)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Table 1 &#8211; Newly Registered Securities</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:85%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:middle;width:5.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.4%;">&nbsp;</td>
			<td style="vertical-align:middle;width:16%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.4%;">&nbsp;</td>
			<td style="vertical-align:middle;width:7.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.4%;">&nbsp;</td>
			<td style="vertical-align:middle;width:7.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.4%;">&nbsp;</td>
			<td style="vertical-align:middle;width:4.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.4%;">&nbsp;</td>
			<td style="vertical-align:middle;width:4.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.4%;">&nbsp;</td>
			<td style="vertical-align:middle;width:6.7%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.4%;">&nbsp;</td>
			<td style="vertical-align:middle;width:6%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Security Type</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Security</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Class</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Title</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Fee</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Calculation</b><br>
			<b>Rule</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Amount</b><br>
			<b>Registered</b>&nbsp;<b>(1)(2)</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Proposed</b><br>
			<b>Maximum</b><br>
			<b>Offering</b><br>
			<b>Price Per</b><br>
			<b>Unit (3)</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Maximum</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Aggregate</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Offering</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Price (3)</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Fee</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Rate</b></p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Amount of</b><br>
			<b>Registration</b><br>
			<b>Fee</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Equity</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Common stock, par value</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">$0.001 per share</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Rule&nbsp;457(c)</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">and&nbsp;457(h)</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">5,250,000</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$1.47</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$7,717,500</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">0.0001531</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:middle;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$1,181.55</p>
			</td>
		</tr>
		<tr>
			<td colspan="7" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
		</tr>
		<tr>
			<td colspan="7" style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Total Offering Amounts</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$7,717,500</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$1,181.55</p>
			</td>
		</tr>
		<tr>
			<td colspan="7" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
		</tr>
		<tr>
			<td colspan="7" style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Total Fee Offsets</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">0</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">0</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">0</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$<u>0</u></p>
			</td>
		</tr>
		<tr>
			<td colspan="7" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
			<td colspan="2" style="vertical-align:middle;width:auto;">&nbsp;</td>
		</tr>
		<tr>
			<td colspan="7" style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Net Fee Due</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$1,181.55</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;margin:0pt;">__________________</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 27pt;text-indent:-27pt;">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Form&nbsp;S-8&nbsp;registration statement to which this Exhibit 107.1 is attached (the &#8220;Registration Statement&#8221;) registers 5,250,000 shares of common stock, par value $0.001 per share (the &#8220;Common Stock&#8221;), of Usio Inc., a Nevada corporation (the &#8220;Company&#8221; or &#8220;Registrant&#8221;), that may be delivered pursuant to awards under the Usio, Inc. 2025 Comprehensive Equity Incentive Plan (as amended from time to time, the &#8220;Plan&#8221;), which shares consist of shares of Common Stock reserved and available for delivery with respect to awards under the Plan and additional shares of Common Stock that may again become available for delivery with respect to awards under the Plan pursuant to the share counting, share recycling and other terms and conditions of the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 27pt;text-indent:-27pt;">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule 416(a) under the Securities Act, this Registration Statement shall be deemed to cover an indeterminate number of additional shares of Common Stock that may become issuable as a result of stock splits, stock dividends or similar transactions pursuant to the adjustment or anti-dilution provisions of the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 27pt;text-indent:-27pt;">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Estimated solely for purposes of calculating the registration fee. Pursuant to Rule 457(c) and Rule 457(h) under the Securities Act, the proposed maximum offering price per share and proposed maximum aggregate offering price are based on the average of the high and low prices of a share of Common Stock as reported on the Nasdaq Stock Market, LLC on June 20, 2025, which was equal to $1.47.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>jwllp.jpg
<TEXT>
begin 644 jwllp.jpg
M_]C_X  02D9)1@ ! 0$ W #<  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1" #5 I8# 2(  A$! Q$!_\0
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M2;8AVC ./6N*IG\:6+JT,1'W%=+O\SNI\/RJX2E7P\O?>KOM\CYO_:U^)_\
MPN#]E3X:>)W"K=75\R72IT$Z+M?'MN!KGO\ @FI_R6S6/^P1)_Z,2NO_ &U_
MA)H_P2_9[\(>&-#DN)=/BUJ:=6NGWN"ZY//UKQ3]D;XI67P;U[QGXGNV7S;;
M0I5M82>99RZA% [\\GV!JJ$%7RBK'#K1N5OO)KSE0S>E/$/5*-_N/6/^"C/Q
MO_MWQ':?#K3+C-EIA%SJ>QN'G(^2,_[H.2/4BNX_X)S_  )_LC1KGXD:M;XO
M-04V^EK(O,<'1Y!_O'C/<5\A?!_P'J?[1?QNL=+O;HM/JUT]YJ-RS?,(P=\F
M/? P/PK]CM$T:S\/:19:980);65I$L,,2# 15& !7F9K4CEN#AE]+=J\OZ\V
M>GE--YEC)YA5V3M'^O(_,+]O7XVW_C_XK7WA6"Z=/#F@$0BW1L+-<8^=V'<@
M\#TQ7#^$?V0OB?XU\!KXMTS0EDTR2,S01/*JSSH.K*A.>W'<]JR_VJ?"]WX6
M^/GC>RO$93/>O=QL1PR2_.I'Y_I7W1^S)^V7X!\0>"=!\-ZY?Q>&M>LK9+1H
MKOY()MH"AD?ISZ'FO9JUJV79?1E@H<RZZ7/&I4:.8X^M'&SY7TU/@CX%_%?5
MO@A\4-,URSEEAB2X6#4;/.!/$6VLC#U'8]J^^OV]/C=>>!/A!IMAH%TUM>^*
M',2W4389+<*&?:>Q(8#/UKT*Y_9,^#_B.[FU9O"EA=RW<AG:>-R5=B<D\''6
MOEW_ (*9V\>FW?P]L+=?*M+:WE2*,=% P!^@%>3'$X;-LPHM0LUO?K8]:6&Q
M.4Y?63J73VMTN?)/PZ^&'B?XKZZ=&\*Z5+JVH!#+(J,%5%SR6=B .3W/>F_$
M#X;>)?A5XB.C>)],ETC4T E5&8$,.S(Z\'GN#7V;_P $MX8V;XB3%%,JM9J'
MQR 1(2/T%4/^"H-O&-?\"S! )?LTZ%^Y7<#BO=_M2?\ :?U'E7+^.USPO[+A
M_9GUY2?-^&]C<^%GQBU'XI?L1?$&QUJX-UJN@V3V9N)#EY8MJE&;W ^7\*^"
M='O+W3]2M9].DEBOT<>0T'WPYX&WW]*^EOV7I&_X4!\=X\G9_9<9V^^3S7BO
MP,@CN?C)X)CE4.AU:VRIZ'$@-/!1AA9XOE6B=[?*Y.,E/%0PG,]6K7^9L^./
MV<OB7X$\+CQ3XB\-7%KI4["22Z,J2,I?H9 "67.>I%7_ -DSQS>^ _C_ .$K
MJUG:*&^NA8W: \21/U!'?G&/2OU"_:3MXY_@%X^61 ZC1[A@&&1D(2#7Y*?
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M\^S+$?6L5.HMMEZ+0_1,LP_U;"P@]WJ_5BT445YAZI\T>)?^3]_"?_8I3_\
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M^2T^"/\ L+6__H8KVW]E_3Y!^SE\=;T@^0U@D(;MN')'Y$5XE\!?^2T^"/\
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M0*^=/I!:**0G% SYI\2_\G[^$_\ L4I__1QKZ5/2OFKQ+_R?MX3_ .Q2G_\
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M.0D8/.,CEJ^Z_P!J3X"Q_'GX72Z+:-'::Q8M]ITV9^$#@8V'T5AQ^5>R^6
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M[/5S/;V[W-Q8ZA;SA8E+,%W8; 'L:^%_V2_!=[KG[1'@J&XT^Z2VAO#<2M+
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MAQS7[8+"L8PBA0>N!BD^SQG.47GU%>;0SJ5#$U<2H?'TOL>E7R-5L-2PW/\
M!U/G_5H)1^P_Y/E2&;_A$XE\K8=^?*7C'7/M7YL?!+2+^+XN^"6?3[Q%75K7
M<S6[@#]XO?%?M1Y0VXV@CT-,%I&#E8D![?**SP>;O"4ZL%"_.V_0TQF3?6YT
MI<]N1)>MB#6-*MM<TN\T^\C6>SNXG@EB<9#*P((_(U^+OQ3^&FM_"OXF:YH"
M6=XTFEWI:UN(X'8.@;=&X('I@U^UV#4;VT<C9:-6/J0,UAEF9SRV4K+F4MT=
M&:97',E%M\KCLSY"\0^$)/VVOV5]#O80;/QKI0^0W2E,W*+MD1LC@2#:<]B1
M7Y[>*/ WB7P#K4NG:YHVH:1J,)*LDD3*?J&'4>XZU^XZ0K'PBJ@_V1BJVH:+
M8:O$([ZRM[U!_#/$''ZUW8'/9X+F@H7@W=+M<X<;D,<9RS<[32LWW/Q/^'WP
MJ\6_%778=+\.:+=ZA=3-AIFC81QC/+R.> /6OUC^"'P8M/@7\&%\-02"YO?L
M\D]]<J/]=.R?,1[#  ]@*]0LM+M=,A$-G:PVL0_@A0(OY"K!3/45CF.<U,?:
M"CRQ6MN_J;Y;DM/+[S<N:3Z]C\+]<T?46US4L:;>'_2Y>EL__/0^U?N#X<!7
MP]I8(((M8L@]OD%6S:1$?ZJ//^Z*E5<5CF6:/,8TXN%N6_Z&N694LNE4DI7Y
MK#J***\,]\_.S_@ISI]W>?$#P6;>TN+E1IDX)AB9P/WHZX%>'>&_VEOC+X2T
M*QT;2=6U*UTVRB$,$(L2=B#H.E?K\]NDH^=%<]MPS2?8X?\ GDG_ 'R*^GP^
M<PHX>.'J45-1[GR>(R6I6Q$L13K.+EV/B?\ 87^-_P 1_B;\1-;L/&.I7=[8
M0:=YT:7%L8P)-ZC(./0FO ?V[-/O9?VF=<FM[.ZE46]J5>*%G7(7U Q7ZL)
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MM HHHH&%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
F%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 ?_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
