Acies Corp. Announces
Merchant Account Growth Statistics
Total Merchant Accounts
Grew 48% In First Five Months of Fiscal 2006
129% in Trailing Twelve Months
NEW YORK- (BUSINESS WIRE) - September 26, 2005 - Acies
Corporation (OTCBB: ACIE), a financial services company
specializing in payment processing and online banking services
to small, medium and large size merchants across the United
States, today announced growth statistics for its merchant
account portfolio as of August 31, 2005.
During the first five months of fiscal 2006, total merchant
accounts increased 48%. For the trailing twelve month period
ended August 31, 2005, total merchant accounts grew 129%. Acies
noted that the rapid growth in merchant accounts has been
generated organically and without any addition to the Company's
infrastructure or overhead, effectively demonstrating the
Company's scalable operating model and overall new business
success.
"We continued to grow at an accelerating pace, even through the
typically slow summer season, by capitalizing on significant
opportunities in new and existing markets. We have successfully
implemented a flexible, multi-tiered approach to our marketing
strategy, with growth being derived from our direct sales force
and national network of ISOs and independent agents," said Oleg
Firer, President & CEO of Acies.
"The strong growth in our merchant portfolio demonstrates that
we have gained significant traction in the marketplace with our
ability to provide quality, cutting-edge solutions to our
merchant customers. We attribute our strong organic growth to
increased sales and marketing initiatives, and remain committed
to enhancing our capabilities for continued success."
About Acies Corporation
Acies Corporation (OTCBB: ACIE) is a financial services company
that, through its wholly owned subsidiary, Acies, Inc.,
specializes in providing payment processing 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 and the 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.
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