FTS Releases 2008 Annual Report

Financial Transaction Services (FTS) has released their 2008 annual report. Gross Revenues increased 45% from $49 million in 2007 to $71 million in 2008. Annual Visa/MC/Discover volume increased 58% from 1.6 billion in 2007 to 2.5 billion in 2008. Annual transaction count increased 69% from 28.7 million in 2007 to 48.5 million in 2008.

“Our report reflects positively on the companys focus on organic growth in 2008 in light of the economic situation,” noted Jeff Shanahan, President and COO of FTS. “Our outlook for 2009 remains positive based on early first quarter indications and the fact that our overall sales distribution channel has almost doubled since one year ago.”

The company estimates it will process more than $3.5 billion Visa/MC/Discover card volume in 2009.

Financial Transaction Services is a full service provider of electronic transaction processing services for Merchants, Independent Sales Organizations (ISOs) and Financial Institutions. Financial Transaction Services offers a comprehensive line of solutions for credit and debit cards, gift cards, electronic check conversion, verification and guarantee as well as terminal services and online Payment Gateway Solutions.

SOURCE:

Financial Transaction Services

www.ftservice.com

information@ftservice.com

216-682-2400