MediSwipe Inc. Announces Five Additional Merchant Services Agreements for Wellness Centers, Medical Dispensaries and Internet Businesses

Source: MediSwipe Inc.

New Jersey Agent Office for Company Pushes MediSwipe to Over $1,000,000 for Record Month in New Business in Gross Monthly Processing Volume

LOS ANGELES, July 25, 2011 (GLOBE NEWSWIRE) -- MediSwipe Inc. (http://www.MediSwipe.com) (OTCBB:MWIP), a leading company specializing in merchant payment solutions and financial products for the medical health care industries and mobile payment industry, today announced that the company has signed five (5) new merchant services agreements with wellness centers, medical dispensaries and Internet businesses not related to the medical sector, allowing the Company to have a record month in new business, signing over $1,000,000 in new business in gross monthly processing volume or $12,000,000 annually for the month of July. Under the newly signed agreements, MediSwipe will provide merchant services, cash advance, debit and loyalty cards and personal digitized healthcare records to wellness centers and medical dispensaries located in Colorado and California, as well as provide merchant services to ecommerce and additional high risk merchants. The Company has also expanded merchant agreements this month to the 800 Commerce division covering non-medical related merchant agreements including ecommerce sites, penny auction sites, credit repair and vitamin sales. "Although merchant processing represents only a small amount of revenue to our company, roughly 1% to 1.5% monthly of gross volume, the most important factor is that MediSwipe Inc. has proven itself to be the most reliable Company within the payment services arena within this sector, and now that our network of dispensaries, pharmacies, wellness centers and like businesses is growing at a steady pace, our patient base has also expanded dramatically. This now affords us the opportunity to fully launch our MediSwipe Patient Cards with digital personal health records, as well as provide mobile payment services to a patient and client database exceeding 50,000 patients, and receive monthly fees to realize meaningful revenue and real shareholder value over the near term," stated B. Michael Friedman, CEO of MediSwipe Inc. About MediSwipe Inc. MediSwipe Inc. (www.MediSwipe.com) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), ecommerce and mobile (wireless) payment solutions. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and ecommerce businesses specializing within the healthcare sector.