SOURCE: Spindle, Inc.

Spindle, Inc.

October 13, 2015 08:30 ET

Spindle Signs Strategic Processing Relationship Agreement With C&H Financial Services

Spindle to Become C&H's Preferred Payment Gateway Service Provider

SCOTTSDALE, AZ--(Marketwired - Oct 13, 2015) - Spindle, Inc. (OTCQB: SPDL), a leading provider of Unified Commerce solutions, today announced that C&H Financial Services ("C&H"), an international financial services firm that specializes in merchant services and data processing, has signed an agreement to begin using Spindle's recently acquired Catalyst gateway service. C&H's first project involves moving 1200 retail merchants to the gateway before year end, and to support EMV processing. C&H boards approximately 200-300 new gateway merchants each month, and is expected to deploy the Catalyst gateway for new merchant customers as well.

Based in Chicago, C&H currently has over 5,000 merchants in its network and is recognized as a top 50 payment processing company in the United States. C&H maintains offices in California, Illinois, Florida, Texas, and with the addition of Regal Payment Systems, Tennessee. C&H also has an international presence with operations in Canada, Australia, and New Zealand.

"Our relationship with C&H began with their purchase of our legacy residual portfolio earlier this year. Since then, we have continued to establish a mutually beneficial working relationship with them having entered into an ISO agreement, as well as a reciprocal gateway processing agreement," said Bill Clark, chief executive officer at Spindle. "We expect to continue to expand the relationship to include aggregation processing and the sale of Spindle's Unified Commerce solution to both their new and existing clients."

Clark continued, "This agreement, made possible by our recent acquisition of Catalyst and our largest potential revenue opportunity to date, represents another tangible example of the value of our new business model and our ability to monetize our Unified Commerce solutions. Based on current processing volume, our expectation is that this first merchant conversion alone has the potential to generate as much as $2 million in annual transaction fee revenue for Spindle, thus moving us to a cash flow positive position."

Anthony Holder, C&H Co-Founder and CEO stated, "C&H was in the market for a top merchant gateway solution which we were introduced to by Catalyst. Spindle's outstanding reputation and dedication to surpassing its customers' needs within the marketplace, along with a capable management team who we've come to trust, made us comfortable with proceeding with the gateway agreement. Spindle has a number of unique capabilities and an excellent vision of the market direction. Their delivery of the Unified Commerce solution is in line with our own plans, and it's a product we look forward to delivering to our clients and merchants."

About Spindle 

Spindle is an innovator of unified commerce solutions for consumer-facing merchants of all sizes. It is focused on pioneering new ways for businesses to rapidly integrate mission critical business services, payment acceptance, and mobile marketing services -- while empowering location-based merchant discovery, fulfillment and frictionless consumer engagement. Spindle is dedicated to offering cutting-edge solutions that surpass traditional boundaries and allow clients, partners, merchants and consumers to take full advantage of the rapidly emerging mobile economy. Spindle's extensive proprietary intellectual property portfolio -- which includes patents pending -- encompasses networks, mobile payments, and security. For more information, visit

About C&H Financial Services, Inc.

C&H is ranked #236 on Inc. Magazine's 2015 List of the Fastest Growing Private Companies in the U.S. With over 50 years of combined industry experience in payment processing, and with over 100 sales associates representing thousands of merchants nationwide, C&H is on track to process over $1 billion in transaction volume. We specialize in several niche markets penetrating the healthcare, dental, service, municipalities, educational, petroleum, c-store, non-profit, associations, and restaurants industries. For more information, visit

Forward Looking Statements

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Contact Information

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    Peyton Jackson
    Executive Vice President
    Spindle, Inc.
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