LOS ANGELES, Sept. 13, 2011 — MediSwipe Inc. (http://www.MediSwipe.com) (OTCBB:MWIP.OB -News), a merchant payment solutions and financial products company for the medical health care industry and its wholly owned subsidiary 800 Commerce Inc. (www.800Commerce.com) a leading enabler and turnkey ecommerce solution provider including mobile payment solutions, today announced new merchant services agreements for September exceeding eight million ($8,000,000) dollars in monthly gross processing volume. The new merchant processing agreements include wellness centers, e-commerce and high risk merchant accounts. Under the newly signed agreements, MediSwipe and 800 Commerce will provide merchant services, gift/ loyalty cards and personal digitized healthcare records to the new merchant network. The Company will also update shareholders on the exact filing date of the 800 Commerce Spin-off and dividend share within the next few days.
"We are extremely pleased with the performance of our agent network and organic growth as to new merchant accounts as a direct result of expanding our markets to all high risk markets beyond the medicinal sector. Revenues as a result of these new accounts each month will mark a progressive upward trend, where previously we have been unable to show meaningful revenues due to prior banking and agent agreements with most revenues taken after distribution to several entities, as well as being limited to the medicinal marijuana sector alone. Typically, profit margins now flowing to the Company will be anywhere from 1%-3% monthly on gross processing volume. We will continue to service and be a leading provider of financial services to the medicinal sector, while at the same time create increased shareholder value through our high risk banking relationships to all businesses that seek our services," 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) payment solutions. 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 e-commerce businesses specializing within the healthcare sector.
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.