SOURCE: Mutual Merchant Services, Inc.

November 24, 2008 10:30 ET

Mutual Merchant Services Announces an Explosive 30% Increase in Processing Volume

THOUSAND OAKS, CA--(Marketwire - November 24, 2008) - Mutual Merchant Services (PINKSHEETS: MUTM) (German WKN# A0Q8CV) today announced that its current annual processing volume run rate of $88.5 million represents a robust 30% increase over January 2008.

"While the total number of merchants who have chosen Mutual Merchant Services as their credit card processor has increased by 11% over the same period of time, it is significant that average volume per account has increased by 16%," said Melody Higginbotham, Controller.

MUTM has added several key Independent Sales Offices (ISOs) in the past month and it appears that these new ISOs will be bringing in several large accounts this month. Mutual Merchant Services also is in discussion with several other groups on the East and West Coasts that would further add to the aggressive growth that is currently being realized.

"This stellar performance is indicative of our industry expertise and ability to deliver a complete suite of first class financial services while significantly reducing our merchants' per transaction expense," said Gil Gillis, CEO of Mutual Merchant Services. "We are not a bank nor are we a credit card company and, as such, we are not subject to the difficulties currently plaguing those industries. I am very proud of our team and their ability to aggressively grow our company during this current economic climate. I expect this growth to not only continue, but to accelerate," Gillis added.

About Mutual Merchant Services

Mutual Merchant Services is a single source provider of financial services, offering a variety of products and services to merchants, financial institutions, and banks. Services offered include credit and debit card acceptance, check guarantee, check verification, check conversion, check 21, advance funding, ACH check processing, prepaid and bill pay services. Mutual Merchant Services also provides point of sale software, hardware, and e-commerce products.

Forward-Looking Statements

This release includes "forward-looking statements" from the Company that may or may not materialize and recipients are cautioned not to place undue reliance upon them. These forward-looking statements are subject to a number of known and unknown risks and uncertainties outside of our control that could cause actual operations or results to differ materially from those anticipated. It is important to note that actual results could differ materially from those in such "forward-looking statements" and "forward-looking statements" are inherently subject to risks and uncertainties. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

Contact Information

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