PaySign (PAYS) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 04, 2020
Cover [Abstract]
Entity Registrant Name	Paysign, Inc.
Entity Central Index Key	0001496443
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		49,163,707
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Emerging Growth	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity File Number	000-54123
State of Incorporation	NV
Interactive data current?	Yes
Entity Shell Company	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash	$ 9,424,385	$ 9,663,746
Restricted Cash	45,424,829	35,908,559
Accounts Receivable	911,597	891,936
Prepaid expenses and other assets	1,380,683	1,413,208
Total current assets	57,141,494	47,877,449
Fixed assets, net	1,798,751	937,185
Intangible assets, net	3,948,413	3,816,232
Deferred tax asset	993,382	917,480
Total assets	63,882,040	53,548,346
Current liabilities
Accounts payable and accrued liabilities	1,999,046	1,523,604
Customer card funding	40,292,331	32,723,227
Total current liabilities	42,291,377	34,246,831
Total liabilities	42,291,377	34,246,831
Stockholders' equity
Preferred stock: $0.001 par value; 25,000,000 shares authorized; none issued and outstanding at March 31, 2020 and December 31, 2019	0	0
Common stock: $0.001 par value; 150,000,000 shares authorized, 49,016,270 and 48,577,712 issued at March 31, 2020 and December 31, 2019, respectively	49,016	48,578
Additional paid-in capital	12,062,197	11,577,539
Treasury stock at cost, 303,450 shares	(150,000)	(150,000)
Retained earnings	9,629,450	8,088,485
Total Paysign, Inc.'s stockholders' equity	21,590,663	19,564,602
Noncontrolling interest	0	(263,087)
Total stockholders' equity	21,590,663	19,301,515
Total liabilities and stockholders' equity	$ 63,882,040	$ 53,548,346

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ .001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	49,016,270	48,577,712
Common stock, shares outstanding	49,016,270	48,577,712
Treasury stock shares	303,450	303,450
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues	$ 10,576,473	$ 7,257,290
Cost of revenues	4,855,520	3,482,136
Gross profit	5,720,953	3,775,154
Operating expenses
Selling, general and administrative	3,827,324	2,704,949
Depreciation and amortization	502,376	333,761
Total operating expenses	4,329,700	3,038,710
Income from operations	1,391,253	736,444
Other income (expense)
Interest income	62,161	119,173
Total other income, net	62,161	119,173
Income before income tax benefit and noncontrolling interest	1,453,414	855,617
Income tax benefit	(87,551)	(15,490)
Net income before noncontrolling interest	1,540,965	871,107
Net loss attributable to the noncontrolling interest	0	564
Net income attributable to Paysign, Inc.	$ 1,540,965	$ 871,671
Net income per common share - basic	$ 0.03	$ 0.02
Net income per common share - fully diluted	$ 0.03	$ 0.02
Weighted average common shares outstanding - basic	48,713,163	49,961,079
Weighted average common shares outstanding - fully diluted	54,688,066	54,508,835
Plasma Industry [Member]
Revenues	$ 7,343,410	$ 5,884,577
Pharma industry [Member]
Revenues	3,020,377	1,372,713
Other [Member]
Revenues	$ 212,686	$ 0

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings	Noncontrolling Interest	Total
Beginning balance, shares at Dec. 31, 2018	46,440,765
Beginning balance, value at Dec. 31, 2018	$ 46,441	$ 8,620,144	$ (150,000)	$ 579,582	$ (206,930)	$ 8,889,237
Issuance of stock for previously vested stock-based compensation, shares	291,147
Issuance of stock for previously vested stock-based compensation, value	$ 291	(291)
Stock-based compensation		646,710				646,710
Net income (loss)				871,671	(564)	871,107
Ending balance, shares at Mar. 31, 2019	46,731,912
Ending balance, value at Mar. 31, 2019	$ 46,732	9,266,563	(150,000)	1,451,253	(207,494)	10,407,054
Beginning balance, shares at Dec. 31, 2019	48,577,712
Beginning balance, value at Dec. 31, 2019	$ 48,578	11,577,539	(150,000)	8,088,485	(263,087)	19,301,515
Issuance of stock for previously vested stock-based compensation, shares	428,558
Issuance of stock for previously vested stock-based compensation, value	$ 428	(428)
Stock-based compensation		724,183				724,183
Exercise of stock options, shares	10,000
Exercise of stock options, value	$ 10	23,990				24,000
Dissolution of Paysign, Ltd.		(263,087)			263,087
Net income (loss)				1,540,965	0	1,540,965
Ending balance, shares at Mar. 31, 2020	49,016,270
Ending balance, value at Mar. 31, 2020	$ 49,016	$ 12,062,197	$ (150,000)	$ 9,629,450	$ 0	$ 21,590,663

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income attributable to Paysign, Inc.	$ 1,540,965	$ 871,671
Adjustments to reconcile net income to net cash provided by operating activities:
Change in noncontrolling interest	0	(564)
Depreciation and amortization	502,376	333,761
Stock based compensation	724,183	646,710
Deferred taxes	(75,902)	0
Changes in operating assets and liabilities:
Change in accounts receivable	(19,661)	(330,548)
Change in prepaid expenses and other current assets	32,525	108,884
Change in accounts payable and accrued liabilities	475,442	(748,447)
Change in customer card funding	7,569,104	19,151,504
Net cash provided by operating activities	10,749,032	20,032,971
Cash flows from investing activities:
Purchase of fixed assets	(953,894)	(195,460)
Increase in intangible assets	(542,229)	(363,955)
Net cash used in investing activities	(1,496,123)	(559,415)
Cash flows from financing activities:
Proceeds from exercise of options	24,000	0
Net cash provided by financing activities	24,000	0
Net change in cash and restricted cash	9,276,909	19,473,556
Cash and restricted cash, beginning of period	45,572,305	31,665,741
Cash and restricted cash, end of period	54,849,214	51,139,297
Non-cash financing activities
Interest paid	0	0
Income taxes paid	$ 0	$ 0

RECONCILIATION OF CASH

RECONCILIATION OF CASH - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Cash	$ 9,424,385	$ 9,663,746	$ 5,211,161
Restricted cash	45,424,829	35,908,559	45,928,136
Total cash and restricted cash	$ 54,849,214	$ 45,572,305	$ 51,139,297	$ 31,665,741

1. DESCRIPTION OF BUSINESS, HIS

1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT POLICIES The foregoing unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions for Form 10-Q and Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, these financial statements do not include all of the disclosures required by GAAP for complete financial statements. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and the notes thereto included on Form 10-K for the year ended December 31, 2019. In the opinion of management, the unaudited interim condensed financial statements furnished herein include all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented. The preparation of financial statements in accordance with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions that could have a material effect on the reported amounts of the Company’s financial position and results of operations. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. About Paysign, Inc. Paysign, Inc. (the “Company,” “Paysign,” or “we”, formerly known as 3PEA International, Inc.) is a vertically integrated provider of prepaid card products and processing services for corporate, consumer and government applications. The Company markets prepaid card solutions under our PaySign ® The PaySign brand offers prepaid card based solutions or “card products” for corporate incentive rewards and corporate expense, per diem and travel payments, healthcare reimbursement payments, pharmaceutical co-pay assistance, donor compensation and clinical trials. We plan to expand our product offering to include payroll cards, general purpose re-loadable cards, and others. Our cards are offered to end users through our relationships with bank issuers. Our proprietary PaySign platform was built on modern cross-platform architecture and designed to be highly flexible, scalable and customizable. The platform allows us to expand our operational capabilities by facilitating entry into new markets within the payments space through its flexibility and ease of customization. The PaySign platform delivers cost benefits and revenue building opportunities to our partners. We manage all aspects of the debit card lifecycle, from managing the card design and approval processes with partners and networks, to production, packaging, distribution, and personalization. We oversee inventory and security controls, renewals, lost and stolen card management and replacement. We deploy a fully staffed, in-house customer service department which utilizes bilingual customer service agents, Interactive Voice Response (IVR), and two-way short message service (SMS) messaging and text alerts. Principles of Consolidation Use of Estimates Restricted Cash Fixed Assets The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful life of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability. Intangible Assets Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. Internally Developed Software Costs - For computer software developed or obtained for internal use, costs that are incurred in the preliminary project and post implementation stages of software development are expensed as incurred. Costs incurred during the application and development stage are capitalized. Capitalized costs are amortized using the straight-line method over a three to five year estimated useful life, beginning in the period in which the software is available for use. Earnings Per Share Revenue and Expense Recognition Revenue from Contracts with Customers (ASC Topic 606), The Company recognizes revenue when goods or services are transferred to customers in an amount that reflects the consideration which it expects to receive in exchange for those goods or services. In determining when and how revenue is recognized from contracts with customers, the Company performs the following five-step analysis: (i) identification of contracts with customers; (ii) determination of performance obligations; (iii) measurement of the transaction price; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. All of the Company’s revenues are recognized over time. The Company generates revenue through fees generated from cardholder transactions, interchange, card program management fees and settlement income. Revenue from cardholder transactions, interchange and card program management is recorded when the performance obligation is fulfilled. Settlement income is recognized and recorded ratably throughout the account and program life cycle. The Company records all revenue on a gross basis since it is the primary obligor and establishes the price in the contract arrangement with its customers. The Company is currently under no obligation for refunding any fees or has any obligations for disputed claim settlements. Given the nature of the Company’s services and contracts, it has no contract assets. Stock-Based Compensation New Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement

2. FIXED ASSETS, NET

2. FIXED ASSETS, NET	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
FIXED ASSETS	2. FIXED ASSETS, NET Fixed assets consist of the following: March 31, December 31, Equipment $ 2,119,533 $ 2,026,549 Software 180,224 180,223 Furniture and fixtures 950,743 149,684 Website costs 65,071 34,971 Leasehold improvements 82,644 52,894 3,398,215 2,444,321 Less: accumulated depreciation 1,599,464 1,507,136 Fixed assets, net $ 1,798,751 $ 937,185

3. INTANGIBLE ASSETS, NET

3. INTANGIBLE ASSETS, NET	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	3. INTANGIBLE ASSETS, NET Intangible assets consist of the following: March 31, December 31, Trademarks $ 39,053 $ 39,053 Platform 6,083,238 5,598,136 Customer lists and contracts 1,177,200 1,177,200 Kiosk 64,802 64,802 Licenses 591,696 534,569 7,955,989 7,413,760 Less: accumulated amortization 4,007,576 3,597,528 Intangible assets, net $ 3,948,413 $ 3,816,232 Intangible assets are amortized over their useful lives ranging from periods of 3 to 5 years.

4. COMMON STOCK

4. COMMON STOCK	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
COMMON STOCK	4. COMMON STOCK At March 31, 2020, the Company's authorized capital stock was 150,000,000 shares of common stock, par value $0.001 per share, and 25,000,000 shares of preferred stock, par value $0.001 per share. On that date, the Company had 49,016,270 shares of common stock issued and outstanding, and no shares of preferred stock outstanding. Stock-based compensation expense related to Company grants for the three months ended March 31, 2020 was $724,183. Stock-based compensation expense for the three months end March 31, 2019 was $646,710. 2020 Transactions: 2019 Transactions:

5. BASIC AND FULLY DILUTED NET

5. BASIC AND FULLY DILUTED NET INCOME PER COMMON SHARE	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
BASIC AND FULLY DILUTED NET INCOME PER COMMON SHARE	5. BASIC AND FULLY DILUTED NET INCOME PER COMMON SHARE The following table sets forth the computation of basic and fully diluted net income per common share for the three months ended March 31, 2020 and 2019: 2020 2019 Numerator: Net income attributable to Paysign, Inc. $ 1,540,965 $ 871,671 Denominator: Weighted average common shares: Denominator for basic calculation 48,713,163 46,961,079 Weighted average effects of potentially diluted common stock: Stock options (calculated using the treasury method) 1,824,903 2,027,756 Unvested restricted stock grants 4,150,000 5,520,000 Denominator for fully diluted calculation 54,688,066 54,508,835 Net income per common share: Basic $ 0.03 $ 0.02 Fully diluted $ 0.03 $ 0.02

6. COMMITMENTS AND CONTINGENCIE

6. COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	6. COMMITMENTS AND CONTINGENCIES The Company has been named as a defendant in three recent complaints filed in the United States District Court for the District of Nevada: Yilan Shi v. Paysign, Inc. et. al., filed on March 19, 2020, Lorna Chase v. Paysign, Inc. et. al., filed on March 25, 2020 and Smith & Duvall v. Paysign, Inc. et. al., filed on April 2, 2020 (collectively, the “Complaints”). All three complaints are putatively class action lawsuits filed on behalf of a class of persons who acquired the Company’s common stock from March 12, 2020 through March 30, 2020, inclusive. The Complaints allege that the Company, Mark R. Newcomer, and Mark Attinger violated Section 10(b) of the Exchange Act, and Messrs. Newcomer and Attinger violated Section 20(a) of the Exchange Act, by making materially false or misleading statements, or failing to disclose material facts, regarding our internal control over financial reporting and our financial statements. The Complaints seek certification as a class action, compensatory damages, and attorney’s fees and costs. Paysign has not been served any of the complaints as of the date of this filing and cannot give any meaningful probability of outcome or damages. The outbreak of a novel coronavirus and the incidence of the related disease (COVID-19) starting in late 2019 has continued, spreading throughout the United States and much of the world beginning in the first quarter of 2020. In March 2020, the World Health Organization declared the outbreak as a pandemic. While the disruption is currently expected to be temporary, there is uncertainty around the duration. We have not seen a negative impact to our business, results of operations, and financial position, however the related financial impact cannot be reasonably estimated at this time.

7. RELATED PARTY

7. RELATED PARTY	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY	7. RELATED PARTY A member of our Board of Directors is also a partner in a law firm that the Company incurred $19,000 and $-0- during the three months ended March 31, 2020 and 2019, respectively.

8. SUBSEQUENT EVENTS

8. SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	8. SUBSEQUENT EVENTS The Company has completed an evaluation of all subsequent events through the issuance date of these financial statements and concluded that no other subsequent events occurred that required recognition to the financial statements or disclosures in the Notes to Consolidated Financial Statements or Cash Flows.

1. DESCRIPTION OF BUSINESS, H_2

1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Description of Business/About Paysign	The foregoing unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions for Form 10-Q and Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, these financial statements do not include all of the disclosures required by GAAP for complete financial statements. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements and the notes thereto included on Form 10-K for the year ended December 31, 2019. In the opinion of management, the unaudited interim condensed financial statements furnished herein include all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented. The preparation of financial statements in accordance with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions that could have a material effect on the reported amounts of the Company’s financial position and results of operations. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. About Paysign, Inc. Paysign, Inc. (the “Company,” “Paysign,” or “we”, formerly known as 3PEA International, Inc.) is a vertically integrated provider of prepaid card products and processing services for corporate, consumer and government applications. The Company markets prepaid card solutions under our PaySign ® The PaySign brand offers prepaid card based solutions or “card products” for corporate incentive rewards and corporate expense, per diem and travel payments, healthcare reimbursement payments, pharmaceutical co-pay assistance, donor compensation and clinical trials. We plan to expand our product offering to include payroll cards, general purpose re-loadable cards, and others. Our cards are offered to end users through our relationships with bank issuers. Our proprietary PaySign platform was built on modern cross-platform architecture and designed to be highly flexible, scalable and customizable. The platform allows us to expand our operational capabilities by facilitating entry into new markets within the payments space through its flexibility and ease of customization. The PaySign platform delivers cost benefits and revenue building opportunities to our partners. We manage all aspects of the debit card lifecycle, from managing the card design and approval processes with partners and networks, to production, packaging, distribution, and personalization. We oversee inventory and security controls, renewals, lost and stolen card management and replacement. We deploy a fully staffed, in-house customer service department which utilizes bilingual customer service agents, Interactive Voice Response (IVR), and two-way short message service (SMS) messaging and text alerts.
Principles of consolidation	Principles of Consolidation
Use of estimates	Use of Estimates
Restricted cash	Restricted Cash
Fixed assets	Fixed Assets The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful life of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability.
Intangible assets	Intangible Assets Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. Internally Developed Software Costs - For computer software developed or obtained for internal use, costs that are incurred in the preliminary project and post implementation stages of software development are expensed as incurred. Costs incurred during the application and development stage are capitalized. Capitalized costs are amortized using the straight-line method over a three to five year estimated useful life, beginning in the period in which the software is available for use.
Earnings per share	Earnings Per Share
Revenue and expense recognition	Revenue and Expense Recognition Revenue from Contracts with Customers (ASC Topic 606), The Company recognizes revenue when goods or services are transferred to customers in an amount that reflects the consideration which it expects to receive in exchange for those goods or services. In determining when and how revenue is recognized from contracts with customers, the Company performs the following five-step analysis: (i) identification of contracts with customers; (ii) determination of performance obligations; (iii) measurement of the transaction price; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. All of the Company’s revenues are recognized over time. The Company generates revenue through fees generated from cardholder transactions, interchange, card program management fees and settlement income. Revenue from cardholder transactions, interchange and card program management is recorded when the performance obligation is fulfilled. Settlement income is recognized and recorded ratably throughout the account and program life cycle. The Company records all revenue on a gross basis since it is the primary obligor and establishes the price in the contract arrangement with its customers. The Company is currently under no obligation for refunding any fees or has any obligations for disputed claim settlements. Given the nature of the Company’s services and contracts, it has no contract assets.
Stock-based compensation	Stock-Based Compensation
New accounting pronouncements	New Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement

2. FIXED ASSETS, NET (Tables)

2. FIXED ASSETS, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of fixed assets	March 31, December 31, Equipment $ 2,119,533 $ 2,026,549 Software 180,224 180,223 Furniture and fixtures 950,743 149,684 Website costs 65,071 34,971 Leasehold improvements 82,644 52,894 3,398,215 2,444,321 Less: accumulated depreciation 1,599,464 1,507,136 Fixed assets, net $ 1,798,751 $ 937,185

3. INTANGIBLE ASSETS, NET (Tabl

3. INTANGIBLE ASSETS, NET (Tables)	3 Months Ended
	Mar. 31, 2020
LIABILITIES AND STOCKHOLDERS' DEFICIT
Schedule of intangible assets	March 31, December 31, Trademarks $ 39,053 $ 39,053 Platform 6,083,238 5,598,136 Customer lists and contracts 1,177,200 1,177,200 Kiosk 64,802 64,802 Licenses 591,696 534,569 7,955,989 7,413,760 Less: accumulated amortization 4,007,576 3,597,528 Intangible assets, net $ 3,948,413 $ 3,816,232

5. BASIC AND FULLY DILUTED NE_2

5. BASIC AND FULLY DILUTED NET INCOME PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Computation of earnings per share	2020 2019 Numerator: Net income attributable to Paysign, Inc. $ 1,540,965 $ 871,671 Denominator: Weighted average common shares: Denominator for basic calculation 48,713,163 46,961,079 Weighted average effects of potentially diluted common stock: Stock options (calculated using the treasury method) 1,824,903 2,027,756 Unvested restricted stock grants 4,150,000 5,520,000 Denominator for fully diluted calculation 54,688,066 54,508,835 Net income per common share: Basic $ 0.03 $ 0.02 Fully diluted $ 0.03 $ 0.02

1. DESCRIPTION OF BUSINESS, H_3

1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Antidilutive shares	0	0
Estimated useful lives of fixed assets	3 to 10 years

2. FIXED ASSETS, NET (Details)

2. FIXED ASSETS, NET (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Fixed Assets Gross	$ 3,398,215	$ 2,444,321
Less: accumulated depreciation	1,599,464	1,507,136
Fixed assets, net	1,798,751	937,185
Equipment [Member]
Fixed Assets Gross	2,119,533	2,026,549
Software [Member]
Fixed Assets Gross	180,224	180,223
Furniture and Fixtures [Member]
Fixed Assets Gross	950,743	149,684
Website Costs [Member]
Fixed Assets Gross	65,071	34,971
Leasehold Improvements [Member]
Fixed Assets Gross	$ 82,644	$ 52,894

3. INTANGIBLE ASSETS, NET (Deta

3. INTANGIBLE ASSETS, NET (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Intangible assets gross	$ 7,955,989	$ 7,413,760
Less: accumulated amortization	4,007,576	3,597,528
Intangible assets, net	3,948,413	3,816,232
Trademarks [Member]
Intangible assets gross	39,053	39,053
Platform [Member]
Intangible assets gross	6,083,238	5,598,136
Customer lists and contracts [Member]
Intangible assets gross	1,177,200	1,177,200
Kiosk [Member]
Intangible assets gross	64,802	64,802
Licenses [Member]
Intangible assets gross	$ 591,696	$ 534,569

3. INTANGIBLE ASSETS, NET (De_2

3. INTANGIBLE ASSETS, NET (Details Narrative)	3 Months Ended
	Mar. 31, 2020
Maximum [Member]
Intangible assets useful lives	5 years
Minimum [Member]
Intangible assets useful lives	3 years

4. COMMON STOCK (Details Narrat

4. COMMON STOCK (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Equity [Abstract]
Common stock, shares authorized	150,000,000		150,000,000
Common stock, par value	$ 0.001		$ .001
Common stock, shares outstanding	49,016,270		48,577,712
Stock based compensation expense	$ 724,183	$ 646,710
Options granted	500,000
Fair value of options per share	$ 2.86
Option vesting period	4 years
Proceeds from exercise of options	$ 24,000	$ 0
Stock issued for vested stock grants and exercise of options, shares	438,558	291,147

5. BASIC AND FULLY DILUTED NE_3

5. BASIC AND FULLY DILUTED NET INCOME PER COMMON SHARE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net income attributable to Paysign, Inc.	$ 1,540,965	$ 871,671
Denominator:
Denominator for basic calculation	48,713,163	49,961,079
Weighted average effects of potentially diluted common stock:
Stock options (calculated under treasury method)	1,824,903	2,027,756
Unvested restricted stock grants	4,150,000	5,520,000
Denominator for fully diluted calculation	54,688,066	54,508,835
Net income per common share:
Basic	$ 0.03	$ 0.02
Fully diluted	$ 0.03	$ 0.02

7. RELATED PARTY (Details Narra

7. RELATED PARTY (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Related Party Transactions [Abstract]
Legal fees paid to related party	$ 19,000	$ 0