[July 01, 2015]

C&H Financial Services, Inc. Acquires Legacy Portfolio in Strategic Acquisition

On June 30, 2015 C&H Financial Services, Inc. ("C&H") announced the acquisition of a substantial merchant portfolio from Spindle, Inc.

C&H is an international Financial Services firm that specializes in merchant services and data processing. Established in Chicago, Illinois, C&H is one of the fastest growing privately owned companies in America.

With over 5,000 merchants in its network, processing over $1 Billion in transaction volume each year, C&H is a top 50 payment processing company in the United States. C&H maintains offices in California, Illinois, Florida, Texas, and Tennessee. C&H also has an international presence with operations in Canada, Australia, and New Zealand.

Spindle, Inc., (OTCQB: SPDL) is a leading provider of mobile commerce solutions. According to Bill Clark, CEO of Spindle, Inc., "our decision to sell our legacy merchant portfolio to C&H was based upon our belief that the company and its shareholders would gain the most benefit from the value of this asset by converting it into capital to fund its Point-of-Sale (POS) hardware and software, beacons, mobile and online coupons, mobilemarketing and loyalty programs, payment processing, and ultimately, an opportunity to deliver big data solutions for targeted marketing. We are also looking forward to providing merchant aggregation services for C&H where applicable."

According to Anthony Holder, co-founder and CEO, "C&H was in the market for a top merchant portfolio from an organization with a commitment that matched our progressive, ethically driven business approach. When conducted properly, a portfolio acquisition is more than as asset purchase, it is a foundational act designed to serve as a platitude for future business endeavors. With this principal in mind, C&H's recent decision to purchase a merchant portfolio from Spindle, Inc. was in large part predicated upon Spindle, Inc.'s outstanding reputation and dedication to surpassing its customers' needs within the marketplace."

C&H's other co-founder and COO, James Costanzo added, "any processor can focus on lowering merchant costs. While C&H believes in providing merchants with highly competitive pricing, our growth model is primarily predicated on (1) attentive customer service; (2) cutting edge technology partnerships and integration; and (3) strategic acquisitions designed to help C&H further penetrate the most dynamic, emerging segments within the payment services industry."

Spindle, Inc. plans to leverage its budding business relationship with C&H, in order to capitalize on C&H's product and service offerings available through First Data, TSYS, and Paymentech platforms. Through this acquisition, both C&H and Spindle, Inc. hope to prosper and thrive in the industry together, as the field of payment processing and merchant services continues to evolve into the next generation of payment solutions. C&H also continues to pursue other opportunities for growth in the credit card processing and payments industry.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150701006730/en/

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