Variable Data Images: Adobe Photoshop Add On
* Full version is ad free, removes image limits and allows settings to be saved.
Variable Data Images is a Photoshop Add On that let’s users merge variable data with a photoshop document.
The Add On allows variable text to substitute point or paragraph text in a photoshop template; including an option to automatically resize text if it causes overflow.
Layers in the photoshop template can be turned on or off for each image being merged based on variable data in the spreadsheet.
In addition one or more actions can be run on the photoshop template while merging.
Each generated image will have a filename designated in the spreadsheet and can be output in either JPG, PNG, TIFF, PSD with option for web quality images also.
Read the full documentation here.