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Mutual Merchant Services Inc., a Thousand Oaks, Calif.-based independent sales organization, says its recent agreement to process transactions for Zion Systems Ltd. has added $20 million to the ISO's sales volume. ISOs generate revenue from receiving a portion of the discount rate, which includes interchange and processor fees, assessed each transaction. Mutual Merchant Services has an annual sales volume of more than $120 million, a spokesperson says. Zion Systems customers include Christian organizations and businesses. Mutual Merchant Services and Zion Systems announced their partnership in October. Earlier this month, Mutual Merchant Services said its subsidiary, 1st Federal DMC, signed a payment-transaction deal with DMC Athletics and Rehabilitation, a physical-therapy clinic based in Morristown, N.J. The ISO expects to generate $5 million in sales volume in the first six months of operation.
