Mutual Merchant Services Expands Processing Services to Medical Industry
03 December 2008 - 11:30PM
Marketwired
Mutual Merchant Services, Inc. (PINKSHEETS: MUTM) (German WKN#
A0Q8CV) is pleased to announce that it has signed a contract with
1st Federal DMC, LLC ("DMC") to provide credit card processing
services to Medical, Physical Therapy, Surgical, Personal Training
and Exercise Centers in the north New Jersey area. DMC is highly
confident that it can capture a minimum of 10% of the current
clientele of DMC Athletics and Rehabilitation, or $5 million per
month, in the first six months and up to 20%, or $10 million per
month, in the first year of operations.
DMC Athletics and Rehabilitation has been recognized for
providing unmatched customer service and in 2006, 2007 and 2008 was
the Reader's Choice Award number one rated orthopedic and sports
training facility in Morris County. It has created a processing arm
of its business called 1st Federal DMC Processing, LLC ("DMC"). DMC
has engaged the services of several marketing and sales agents in
preparation to roll out this new service. DMC has pre-qualified
several affiliated medical businesses that represent more than $10
million of processing per month. Over the ensuing 12 months DMC
will approach all of its affiliate medical associates which
represent approximately $50 million in monthly processing.
"I am pleased to be able to make this announcement so quickly,"
said Gil Gillis, CEO and Chairman of the Board of Directors.
"Mutual Merchant Services has announced projected increases in
annual credit card processing volume nearly 100% or approximately
$80 million in just the last two weeks. I am very proud of our fine
sales team but I must also say that our years of industry
experience and broad range of affiliations in multiple niches allow
Mutual Merchant Services to deliver a more comprehensive product at
lower cost to the merchant," he added.
Not factored into these calculations are the broad range of
personal relationships that DMC's Senior Marketing Manager intends
to leverage with restaurants and retail stores throughout the
eastern seaboard from New England to Florida. This, combined with
his further plans to expand the sports medicine focus into
Connecticut and eastern Pennsylvania, should pave the way for
additional future growth of Mutual Merchant Services' business.
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.
Mutual Merchant Services Investor Relations: + 908-204-0004
Mutual Merchant Services (GM) (USOTC:MUTM)
Historical Stock Chart
From Oct 2024 to Nov 2024
Mutual Merchant Services (GM) (USOTC:MUTM)
Historical Stock Chart
From Nov 2023 to Nov 2024