Mutual Merchant Services, Inc. Announces Annual Run Rate of $83 Million

THOUSAND OAKS, CA--(Marketwire - October 13, 2008) - Mutual Merchant Services (German WKN# A0Q8CV) today announced that, based on its last three months performance, the Company is operating an annual run rate of $83 million in processing volume. "It is our goal to achieve an annual processing volume run rate of over $200 million by the end of 2009," said Gil Gillis, CEO of Mutual Merchant Services. "We will achieve this by developing strategic relationships in several key niche markets. I look forward to announcing several additional strategic marketing alliances in the coming weeks." The Company nationwide network of Independent Sales Offices (ISOs) is currently signing an average of 47 new merchant accounts per month. In addition to processing fees, Mutual Merchant Services generates significant incremental revenue (33% of... [read full story]