SOURCE: Mutual Merchant Services, Inc.

December 16, 2008 10:00 ET

Mutual Merchant Services Captures Holiday Season Processing Volume Through Its Marketing Alliance With Zion Systems

THOUSAND OAKS, CA--(Marketwire - December 16, 2008) - Mutual Merchant Services (PINKSHEETS: MUTM) (German WKN# A0Q8CV) announces that it has completed the conversion of mobile market credit card processing services for Christian organizations and businesses nationwide via its previously announced affiliation with Zion Systems, LTD. Mutual's entry into this sector is expected to add over $20 million annually in additional processing volume.

"In the first week, with just our initial Zion Systems clients, we have added over $50,000 in new processing volume," said Gil Gillis, Mutual's Board Chairman and CEO. "Mutual demonstrated its competence by quickly implementing the service, and capitalized on this speed by gaining holiday volume that would otherwise be missed. We are all very energized by this accomplishment," Gillis said, adding, "Here's another example of the kinds of things we do to continually advance our goal of rapidly and significantly increasing our total processing volume."

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

  • Contact:
    Mutual Merchant Services Investor Relations:
    310-779-0047