NEW YORK, Dec. 9, 2004 (PRIMEZONE) -- Acies Corporation (OTCBB:ACIE) CEO Oleg Firer, in an interview broadcast over World Talk Radio Network, today said Acies is one of the fastest growing providers of payment processing services. He said the success of similar companies, such as iPayment Technologies (Nasdaq:IPMT), has proven that there is an opportunity that exists in servicing small to medium size businesses that typically have been overlooked by larger payment processors. The interview, conducted by research analyst Francis Gaskins of IPOdesktop.com, is available for review at http://www.worldtalkradio.com/archive.asp?aid=3006 .
Headquartered on Wall Street, directly across the street from the New York Stock Exchange, Acies has strong working relationships with JPMorgan Chase and FirstData. Currently, Firer said, most of Acies' customers are small to medium size businesses primarily in the New York metropolitan area. "The merchants we currently serve process on average $12,000 a month in credit card transactions, and have an average transaction value of approximately $45 per transaction," Firer explained.
"We believe that there is an opportunity to organically grow Acies' business by further penetrating the small and medium size business market through existing and new relationships with Independent Sales Organizations," Firer continued. "We also intend to focus our efforts in this regard on merchants that are newly established, merchants that operate in niche ethnic markets or merchants whose businesses involve industry specific solutions that have been underserved by Acies' competition. To complement our organic growth, we also intend to explore growth through acquisitions of merchant portfolios."
The company plans to further enhance its position as a rapidly growing provider of payment processing services by expanding its merchant base, enhancing and expanding relationships with its independent agents as well as identifying suitable acquisition targets. "In order for Acies to successfully execute on its acquisition growth strategy and continue to deliver high revenue organic growth quarter over quarter, we are currently exploring various financing options," Firer concluded.
Further information on Acies Corporation is available at http://www.aciesinc.com/.
Forward-looking Statements
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