BACK
International Card Establishment Credit Card Subsidiary is Currently Acquiring in Excess of 600 Merchant Accounts Monthly
Total Visa/MasterCard Charge Volume Rises to $24.2 Million in September 2005
CAMARILLO, Calif., Nov. 8 /PRNewswire-FirstCall/ -- International Card Establishment, Inc. (I.C.E.) (OTC Bulletin Board: ICRD) is pleased to announce that it is currently acquiring new merchant accounts at the rate of more than 600 per month and expects this growth to continue, based upon the company's expanding ISO Rep program as well as internal sales.
The company also reported that its total charge volume for Visa/MasterCard transactions had risen to $24.2 million for the month of September 2005.
'We have grown our monthly merchant account acquisitions from 129 in May 2005 -- the first full month that we operated as a direct processor -- to more than 600 accounts in October 2005,' said H. Wain Swapp, CFO, I.C.E. 'At our current rate of growth, we should be able to reach our target of acquiring 1000 new merchant accounts monthly during the first quarter of 2006. Moreover, our total charge volume has grown commensurately, reaching $24.2 million in September 2005.'
About I.C.E.
I.C.E. (http://www.cardnetone.com/) is a rapidly growing provider
of diversified products and services to the electronic transaction
processing industry. I.C.E. establishes merchant accounts for
businesses that enable them to accept credit cards, debit cards
and other forms of electronic payments; supplies point-of-sale
systems; facilitates processing; and markets a proprietary “Smart
Card"-based system – which allows gift and loyalty functions to be
stored on one card -- that enables merchants to offer
store-branded gift and loyalty cards.
Forward-Looking Statements
This press release may contain forward-looking statements that are
subject to risks and uncertainties. Important factors which could
cause actual results to differ materially from those in the
forward-looking statements, include but are not limited to: the
company's short operating history which makes it difficult to
predict its future results of operations; the company's initial
history of operating losses with possible future losses which
could impede its ability to address the risks and difficulties
encountered by companies in new and rapidly evolving markets; the
company's future operating results could fluctuate which may cause
volatility or a decline in the price of the company's stock; the
possibility that the company may not be able to price its services
above the overall cost causing its financial results to suffer;
and other factors detailed in this press release and in future
company filings with the Securities and Exchange Commission, at
such time as the company is required to report its results of
operations under the Securities Exchange Act of 1934, as amended.
Investor Relations Contact:
PAN Consultants, Ltd.
Philippe Niemetz,
toll-free: 800/477-7570
212/344-6464
email: p.niemetz@panconsultants.com
|
|
|
