NEW YORK CITY, Jan. 31, 2005 (PRIMEZONE) -- Acies Corporation (OTCBB:ACIE), an emerging leader in payment processing and electronic banking services to small and medium size merchants across the United States, today announced a wholesale program for its Independent Sales Organizations (ISOs) and authorized resellers.
The new wholesale program builds on the infrastructure the company has created through several innovative programs launched in the past two weeks. They include:
-- A Strategic Partner Agreement with Paymentech L.P., through
which Acies is able to offer its customers a more comprehensive
service and product offering; a Strategic Partner Agreement
with Paymentech, L.P. By adding Paymentech as one of its
processing platforms, Acies is able to offer its customers a
more comprehensive service and product offering
-- The company has also begun offering a new financing solution
to its merchant and business customers called Business Cash
Advance Solution. This financing solution is designed to
provide businesses that normally cannot receive financing
through traditional means with a new and effective working
capital solution.
-- Also newly launched is a paperless payroll solution for
employers. The program is specifically being offered to
employers that issue paper checks to the more than 30 million
'unbanked' employees in the country with no checking or
savings accounts. The Acies Payroll Card Platform enables
employers to issue employee payroll cards, pay wages and
check payroll history. The solution is comprehensive and
provides real-time management for employers.
-- Late last week, the company also announced the introduction
of "Sales Central" -- designed to provide enhanced
responsiveness to its agents and Independent Sales
Organizations (ISOs) and to improve sales efficiency.
Sales Central offers a single point of contact to the company's sales agents, representatives, managers, and ISO sales support functions to improve conversion rates and technology advisory functions, in order to reduce deployment time for merchants and to better troubleshoot merchant issues.
Through the Acies wholesale program, ISOs and authorized resellers will be able to resell this comprehensive suite of Acies solutions, including payment processing solutions, equipment, gift card programs, and customized programs for merchants and retailers. It rewards top producers with payment processing division incentives.
"The success of our organization relies greatly on the success of our agents and partners," said Oleg Firer, CEO of Acies. "Typically, the relationship is one in which we rebate commissions to agents and companies that actively sell the Acies product line.
"In an effort to improve margins for our top-tier producers, and to improve our overall efficiency as an organization, we are offering our solutions on a wholesale basis," the CEO continued.
"This availability should encourage our existing higher-level producers to more aggressively push the product line, since that will yield higher-margins and increased customer retention. Additionally, this program should also make our product offerings more attractive to larger ISOs and organizations looking for ancillary revenue opportunities."
About Acies Corporation
Acies, Inc. ("Acies"), a wholly owned subsidiary of Acies Corporation (OTCBB:ACIE), is a financial services company that specializes in payment processing services and online banking services to small, medium, and large-size merchants across the United States. Acies' payment processing services enable merchants to process Credit, Debit, Electronic Benefit Transfer (EBT), Check Conversion, and Gift & Loyalty transactions. Acies also offers traditional and next-generation point-of-sale (POS) terminals, which enable merchants to utilize Acies' payment processing services. Acies' banking services offer customers traditional banking services, ability for customers to apply for an on-line bank account and pay bills electronically.
For more information, visit http://www.aciesinc.com.
Forward-looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.