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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.'
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