Genpass Inc., owner and operator of the MoneyMaker and Money Belt EFT networks, on Monday announced more major additions to the executive team for its processing and ATM network enterprises.
Gary T. Staub joins Genpass as executive vice president and chief marketing officer, and Anthony F. Newshel joins as chief technology officer. Genpass president and CEO Bipin Shah, is a recognized leader in the EFT industry and one of the founders of the MAC network. Under Shah’s tenure, MAC enjoyed a period of extraordinary growth. Shah’s team formulated many of the innovative services the network offered including POS services, advanced function ATMs and smart card technology.
Shah has been reassembling this team since Genpass purchased the MoneyMaker network in July 2000.
Staub, one of the few non-MAC veterans in the group, comes to Genpass from Paymentech, a payment processing and e-commerce company, where he was group executive for business development. Before that, Staub worked for Shah in his previous company, Gensar Holdings Inc. Staub was a founding officer of Gensar, where he played a key role in acquiring new business and new companies for the Shah enterprise.
In just four years, Gensar grew from a medium sized company to the largest independent point of sale processor in the U.S.
Staub also worked at Mellon Bank where he was business manager for Mellon’s merchant processing and network services businesses. At Mellon, Staub engineered a turnaround strategy that eventually led the bank to become a gateway processor serving major financial institutions and processors across the country.
Staub’s responsibilities for Genpass include spearheading all marketing and sales efforts. Staub also brings his extensive point of sale and e-commerce experience to developing new markets and strategies for Genpass. Newshel is a talented systems architect who comes to Genpass with twenty-four years of experience in information systems. Newshel is a former chief information officer for the MAC network, where he led the development team that introduced advanced-function ATMs to the EFT marketplace.
Prior to joining Genpass, Newshel had founded and directed BileniaTech, LP, a technology consulting company focused on software development and major technology conversion projects for national EFT networks including STAR Systems and Concord EFS. As chief technology officer, Newshel is responsible for systems and development for Genpass Technologies Inc.
It is Newshel’s role to keep Genpass in the forefront of ATM and POS technologies while supporting the growth of an expanded product base. These announcements continue a hiring spree that already filled the Genpass management team with more than a dozen former MAC managers in key technology and sales positions. Genpass has strongly shown its intention to become an industry leader since its summer kick-off last year.
Genpass immediately acquired the MoneyMaker ATM network and Genpass Service Solutions – an ATM maintenance company that vertically integrates the Genpass businesses. Led by Shah and his partner, Gregory Dillett (a former CoreStates Vice Chairman with strong connections to the MAC group), the parent company then acquired the Money Belt network.
Previously, Genpass filled several other key positions with industry talent including Douglas D. Anderson, former EPS/MAC president and CEO, as president of Genpass ATM Solutions; Bonnie E. Hill, former MAC business manager, heading strategic planning; and Douglas Miraglia, former MAC sales manager as MoneyMaker sales manager.
Shah describes his reasons for gathering his former executive team into Genpass: “I have always sought out the best people in every aspect of our business. This team, individually and as a group, has a track record unmatchable in our industry. With them at the helm, we are rapidly growing our product line into an EFT program that is unequaled. At the same time, we pledge to deliver unparalleled customer service. I believe you will see the results of our work very quickly.”
About GTCR Golder Rauner, LLC, Genpass Inc., LLC, and MoneyMaker(SM)
GTCR Golder Rauner, LLC, is a leading private equity investment firm that owns and operates Genpass Inc. Founded in 1980, GTCR pioneered the investment strategy of identifying and partnering with exceptional executives to acquire companies in fragmented and growing industries.
GTCR currently manages more than $4 billion in equity capital invested in a broad range of companies and industries, including transaction processing, information technology services, financial services and marketing services. Genpass Inc. has corporate offices in Pennsylvania, Dallas, Memphis and California and owns the MoneyMaker(SM) and Money Belt EFT networks. These networks provide technology-based, processing and servicing solutions for financial institutions, independent sales organizations, and corporate customers.
MoneyMaker is now the second largest ATM driver in the U.S. with over 20,000 ATMs in all 50 states. MoneyMaker is one of the largest transaction processors in the U.S., processing over 270 million transactions annually with gateways to every major card issuer and regional network in the nation.
Genpass also operates Genpass Service Solutions, the largest independent ATM servicing company in the U.S., and Genpass ATM Solutions, which aids customers in formulating strategies for ATM deployments. The Genpass companies serve more than 1000 financial services customers.Details