LOS ANGELES, July 18, 2011 (GLOBE NEWSWIRE) -- MediSwipe Inc. (http://www.MediSwipe.com) (OTCBB:MWIP), a leading company specializing in merchant payment solutions and financial products for the medical health care industries and mobile payment industry, today announced that the company has signed ten (10) new merchant services agreements with wellness centers, medical dispensaries and Internet businesses not related to the medical sector, exceeding $500,000 in gross monthly processing volume or $6,000,000 annually.
Under the newly signed agreements, MediSwipe will provide merchant services, cash advance, debit and loyalty cards and personal digitized healthcare records to wellness centers and medical dispensaries located in Colorado and California. The new agreements also include payment services to Internet based businesses not providing medication. The Company has also expanded merchant agreements this month to the 800 Commerce division covering non-medical related merchant agreements including e-commerce sites, penny auction sites, credit repair and vitamin sales.
"We are very pleased with our progress and increase in revenue stream as a result of our new expansion within our agent program. We expect to sign between five to ten new merchants each week, and are shooting for one million in new processing volume each month as a minimum in new business. Although we keep our profit margins very tight on the processing side, we believe that as we continue to grow our client base on the merchant processing side, these clients will take advantage of our other services we offer, dramatically increasing our revenue stream over the next two quarters," stated B. Michael Friedman, CEO of MediSwipe Inc.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) terminals. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and ecommerce businesses specializing within the healthcare sector.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.