SOURCE: Mutual Merchant Services, Inc.

December 01, 2008 07:30 ET

Three New Contracts Boost Mutual Merchant Services' Processing Volume by an Additional 23% to $108 Million Annually

THOUSAND OAKS, CA--(Marketwire - December 1, 2008) - Mutual Merchant Services (PINKSHEETS: MUTM) (German WKN# A0Q8CV) is pleased to announced that that three new merchant accounts have been added to the Company's portfolio that will contribute as much as $20 million to annual processing over the next twelve months.

"These three new contracts increase Mutual Merchant Services' total processing portfolio by 23% to $108 million annually," said Melody Higginbotham, Controller.

"This new business is a direct result of the strategic marketing alliance that Mutual Merchant Services formed with Zion Systems, LTD to provide mobile market credit card processing services to Christian organizations and businesses nationwide," said Gil Gillis, CEO and Chairman of the Board of Directors. "I look forward to continued growth in the Company's business as we continue to form similar strategic alliances in different market niches. Our next target is the personal training and physical therapy market. I am personally dedicated to this market sector as a result of my partnership with Patrick Rummerfeld, Director of Development for the Kennedy Krieger Institute's International Center for Spinal Cord Injury," he added.

Gil, a long time auto racer, uses his land speed record holder, the Xtreme Freedom Special, as a marketing tool to raise awareness and funds for the Center. The Center is affiliated with Johns Hopkins and is located next door to the famed care center in Baltimore, Md.

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

  • Mutual Merchant Services Investor Relations:
    + 908-204-0004