Newtek to Offer American Express Full Acquiring Program to Small Business Customers and Sales Channels

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Oct 08, 2014, 09:00 ET

NEW YORK, Oct. 8, 2014 /PRNewswire/ -- Newtek Business Services, Inc.NASDAQ: NEWT, The Small Business Authority^®, announced today that its merchant processing segment, Newtek Merchant Solutions, is offering the American Express Full Acquiring Program to its small business customers and sales channels. Through participation in this program, Newtek Merchant Solutions will offer the advantage of easy, convenient and cost-effective acceptance of American Express Cards^® to its customers with the benefits of a single statement and one settlement process.

Barry Sloane, Newtek's Chairman, President and Chief Executive Officer said, "We are extremely excited to be able to participate in the American Express Full Acquiring Program earlier than many other merchant processors, and offer, to our merchants, the advantage of better service, reduced American Express processing costs and additional payment choices for their consumers. Throughout our 11-year relationship, First Data Corporation, the global technology leader in the financial services industry that handles our processing, has become thoroughly familiar with our superior level of expertise regarding the small business market and, as a result, recognized the ultimate importance of enabling our participation in this program with our distinguished position as the Authority in the small business arena. We expect our ability to offer this program will positively impact our financial performance as we now have a relationship with American Express similar to what we have with Visa^®and Mastercard^®."Website - http://thesba.com/

About Newtek Business Services, Inc.

Newtek Business Services, Inc., The Small Business Authority^®, is the Authority for the small- and medium-sized business (SMB) market providing a wide range of business services and financial products under the Newtek^® brand. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

Newtek's products and services include: The Newtek Advantage^™, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Business Lending, Insurance Services, Web Services, Data Backup, Storage and Retrieval, Accounts Receivable Financing, Payroll.

The Small Business Authority^®is a registered trade mark of Newtek Business Services, Inc., and neither are a part of or endorsed by the U.S. Small Business Administration.

Note Regarding Forward Looking Statements

Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.

For more information, please visit the following websites:
www.thesba.com

Contacts:
Newtek Business Services, Inc.
Barry Sloane
Chairman and CEO
212-356-9500
[email protected]

FROM:
Newtek Business Services, Inc.
http://www.thesba.com
Public Relations
Contact: Simrita Singh
Telephone: (212) 356-9566 / [email protected]
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]
Contact: Brett Maas
Telephone: (646) 536-7331 / [email protected]