Merchant Warehouse Sees Continued Momentum in 2009; Tops All Previous Sales Records

Brian Waldman

May 26, 2009

Merchant account provider leverages strong commitment to providing unique technological innovations to close April books on record-breaking note.

Boston, Mass. - May 26, 2009 - Merchant Warehouse, a premier provider of merchant accounts and credit card processing solutions, continues to grow at a record pace. Within the past six months, despite economic turmoil, sales of merchant accounts have increased significantly with April being the best month in the company's 11-year history. 
Contributing to the company's phenomenal growth has been the release of innovative, industry-changing, products and solutions for small and mid-sized business owners, as well as several prominent awards recognizing Merchant Warehouse as one of the top merchant account providers in the industry. Most recently they won the processing industry's highest award, "ISO of the Year 2009" in acknowledgement of all the company's accomplishments and commitment to its customers.

Recent Merchant Warehouse Achievements include:

Increased Sales and Growing Customer Service

  • April 2009 was most successful in company history for new customer acquisition.
  • Agent and VAR Channel growth of 100 percent over previous six-months.
  • Customer retention rates currently 100 percent longer than industry average.

Technology Enhancements

  • Released BINsmart™ a revolutionary technology, embedded in point of sale (POS) systems and exclusive IP or dial-up terminals. This technology assesses each credit card transaction to deliver significant savings on merchant's processing costs.
  • Development and release of MerchantWARE Mobile a point-of-sale application that provides merchants with the ability to run credit card transactions in real-time on their iPhone, iTouch or Blackberry.
  • Restaurant and retail POS systems to benefit its agent and ISO network by adding powerful, systems that are affordable and easy-to-deploy.

Corporate Recognition

  • Boston Business Journal Pacesetter Award - This honor recognizes the company's significant revenue growth over the past three years.
  • ETA 2009 ISO of the Year - Awarded for a multitude of groundbreaking business and technology initiatives, community and charitable involvement and ongoing high ethical standards.
  • Business Solutions Best Channel Vendor 2009 - This award recognized the company's ability to offer new innovative technology that enhanced partners' future growth opportunities; loyalty to partners and partnership program; and quality of service and support.
  • Corporate Friendship Award - Awarded annually by Boston Cares, a non-profit organization that creates and leads team-oriented volunteer opportunities and services within Greater Boston, Merchant Warehouse was chosen as this year's recipient for its significant involvement in local volunteering and charitable organizations.

"I am flattered to be able to work with individuals who give so much of themselves to our clients, community and organization," said Henry Helgeson, Merchant Warehouse President and co-CEO. "I couldn't be prouder of our performance over the first part of 2009 and look forward to even greater accomplishments moving forward for Merchant Warehouse."

About Merchant Warehouse
Merchant Warehouse was founded in 1998 on the principle that businesses should be able to purchase credit card processing software, POS equipment and merchant services at a reasonable price. With over 80,000 merchants served in the last 11 years, Merchant Warehouse now sets the standard for price, innovation, customer service and integrity. For more information, please visit MerchantWarehouse.com or follow us at http://twitter.com/MWarehouse.

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Contacts:
Brian Waldman
Merchant Warehouse
800.941.6557 x2050
bwaldman@merchantwarehouse.com

Alexis Gordon/Michael Sullivan
PAN Communications
978.474.1900
merchant@pancomm.com