CardWeb.com’s CardExecs database of payments industry mover and shakers today features Ralph Bianco, EVP and General Manager of JetPay Card Services.
JetPay has fully satisfied the arbitration award granted to EarlyBirdCapital Inc. As previously disclosed, the International Centre for Dispute Resolution (the “ICDR”), pursuant to an arbitration claim filed against the Company by EBC, rendered its decision on March 3, 2014 and ordered the Company to pay damages of $2,070,000 plus interest, attorney’s fees and expenses of approximately $740,000 within 30 days of the decision. The Company entered into a Securities Purchase Agreement (the “Common Stock SPA”) with Bipin C. Shah, its Chairman and Chief Executive Officer, and C. Nicholas Antich, the President of JetPay Payroll Services (aka AD Computer Corporation), a wholly owned subsidiary of the Company. Mr. Shah and Mr. Antich agreed to purchase an aggregate of 333,333 shares of the Company’s common stock at a purchase price of $3.00 per share, for an aggregate of $1.0 million. Additionally, on April 14, 2014, the Company issued 4,667 shares of Series A Convertible Preferred Stock to Flexpoint for an aggregate of $1.4 million.
JetPay has hired Nancy Ann Barnhart as Chief Information Officer, bringing with her more than 20 years experience in the payments industry. Most recently at American Express, Barnhart began her payments industry career at Gensar Technologies, later known as Chase Paymentech, where, over a ten year span, she became a Senior Director, first of their data center then in the Advanced Product Group, which she redesigned to focus on the needs of value-added resellers. She next founded her own Independent Sales Organization – Integrated Card Systems – where she obtained funding to buy a major merchant portfolio. Eventually, this business was turned over to a business partner. Ms. Barnhart then turned her talents to a Senior Director position at Heartland Payments Systems, where she performed product management for card associations and proprietary gateways. Ms. Barnhart joined American Express in 2011 as Senior Manager of Strategy and Business Development for fee-based products, where she managed business development efforts for FX International Payments, Merchant Financing and other fee-based revenue programs. M
JetPay hired Michael J. McGovern as Executive Vice President and Chief Operating Officer. McGovern began his career in a corporate setting as a tax accountant then as director of operations at Management Assistance Inc., a computer manufacturing and leasing company. With his experience at the Federal Reserve, Mr. McGovern joined American Express where he eventually was responsible for application project management. McGovern, in a long and distinguished career with CoreStates rose from Vice President of cash management services, to Senior Vice President of data Processing Systems, and, ultimately, to Executive Vice President of Domestic and International Operations – a position in which he remained for 12 years.
JetPay Corporation appointed Diane (Vogt) Faro to its Board of Directors. With a career of over 30 years in the payments industry, Faro brings executive expertise in management, sales, and the merchant acquiring and Independent Sales Organization sides of the payment business. Faro is currently President of National Benefit Programs (“NBP”), a provider of discounted business services, as well as a private consultant to the payments industry. Previously, she served as President of Global Merchant Services at First Data Corporation, which processed over $30 billion in transaction volume resulting in over $100 million in annual revenues. Ms. Faro was the CEO of Chase Merchant Services, LLC-from 1997 to 2002. Chase Merchant Services, an alliance between First Data Corporation and J.P. Morgan Chase, was the largest merchant acquirer in the world at that time.
JetPay® Corporation is pleased to announce the appointment of Diane (Vogt) Faro to its Board of Directors. Ms. Faro was nominated to the board to replace an open board seat created by the departure of Arthur Ryan, who resigned in October 2013. With a career of over 30 years in the payments industry, Ms. Faro brings executive expertise in management, sales, and the merchant acquiring and Independent Sales Organization sides of the payment business.
JetPay Card Services, is pleased to introduce the MAC (Money Access VISA® Prepaid Card). The first phase of the MAC rollout begins today and will focus on employees and employers that are clients of JetPay’s payroll processing business, JetPay Payroll Services. Employees, friends, and families of these businesses will be invited to make MAC the card that they use to help them with their everyday shopping, budgeting, bill payment or other financial services needs.
MAC is a general purpose reloadable (GPR) prepaid card that behaves much like a checkless checking account with a compelling value proposition that will have broad appeal to consumers with or without a bank account. MAC has two pricing options which are being offered through JetPay’s payroll processing channel; MAC One and MAC Choice.
JetPay Payment Services Appointed Jeffrey S. Tourek as Executive Vice President and National Sales leader. Jeff comes to JetPay from Heartland Payment Systems where he was Executive Director for Major Accounts. JetPay Corporation is a nationally recognized payments processor for all major payment cards, with vertically integrated services for businesses that include prepaid debit cards, payroll services and related payroll tax filing, and human resource management. JetPay offers a unique blend of hi-tech transaction processing with customizable solutions for a wide swath of business needs. JetPay Payment Services’ technology platform handles all types of payment transactions including swiped cards at the merchant, mobile payments, and large internet card-not-present businesses.
JetPay Card Services announced the addition of Ralph A. Bianco as Executive Vice President and General Manager. Mr. Bianco is leading the Company’s pre-paid card division that will offer Visa branded reloadable cards plus Visa branded and private label gift cards. The prepaid card division will focus on delivering high value low cost products to consumers. The first products launched by this division, which will be announced later this month, will be aimed at consumers with or without a traditional bank account that need a safe and secure way to shop, save or budget for household expenses.
JetPay Card Services added Ralph A. Bianco Executive VP, General Manager to lead the Company’s pre-paid card division that will offer Visa branded reloadable cards plus Visa branded and private label gift cards. The prepaid card division will focus on delivering high value low cost products to consumers. The first products launched by this division, which will be announced later this month, will be aimed at consumers with or without a traditional bank account that need a safe and secure way to shop, save or budget for household expenses. Of particular importance is to create products that will be attractive to consumers that have limited access to financial services and who often spend exorbitant amounts each payday to cash paychecks and pay bills. He holds a degree in electro-mechanical engineering from City College of New York and is a graduate of the Executive Program of the Darden Graduate School of Business Administration at the University of Virginia.
JetPay Payment Services appointed Jeffry A. Beene SVP, Risk Management, bringing to the role over 20 years’ expertise from within the merchant acquiring industry. Mr. Beene spent almost nine years in executive positions including: Chief Compliance Officer and Executive Vice President at NetSecure Payments, Executive Vice President of Operations at FrontStream Payments and President and Chief Compliance Officer at Pipeline Data Processing. Prior to these positions, he was the Vice President of Security and Compliance for Genpass Technologies Inc. and Director of Security at Gensar Technologies, both companies headed by JetPay Corporation’s Chairman, Bipin C. Shah. He is one of the founding members of the Merchant Acquirer Committee (MAC) which provides universal risk management solutions through ongoing communication and cooperation among acquirers and card associations. He is actively involved with the Electronic Transactions Association (ETA) served on the ETA’s risk and fraud management committee as its vice-chairman, and also served on government relations, industry relations and new member committees.
JetPay® Corporation announced that Flexpoint Ford, a private equity firm focused on the financial services and healthcare sectors, signed a definitive agreement on August 22, 2013 to invest up to $40 million in the company through the purchase of Series A convertible preferred stock. This investment will be used to retire up to $16 million of currently outstanding debt with the remainder available to invest in the company’s growth. The transaction is expected to close in the next 45 days.