BERWYN, Pa.--(BUSINESS WIRE)--JetPay® Card Services, a division of JetPay Corporation (“JetPay” or the “Company”) (NASDAQ: JTPY), is pleased to announce 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. 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.
Mr. Bianco comes to JetPay with a distinguished career in the payments industry of over 39 years. Most recently Mr. Bianco was Chief Operating Officer of Adaptive Payments Inc. where he led product development and management efforts, as well as the business operations of the company. Prior to this, Mr. Bianco was the General Manager of pre-paid card services division for U.S. Bancorp which acquired Genpass Technologies Inc. in 2005. Mr. Bianco spent the prior three years working at Genpass for its founder, Bipin C. Shah -- now Chairman and CEO of JetPay Corporation -- in various product development positions, the last of which was as Senior Vice President of Card Solutions. In that capacity, he developed Genpass’ prepaid card products and the prepaid processing platform. Prior to this, Mr. Bianco worked for MasterCard, where he served as Senior Vice President of Global Product Management and Development for MasterCard International for seven years. Prior to this, Mr. Bianco worked at Gensar Technologies, Mr. Shah’s prior company, until it was acquired by Paymentech. Mr. Bianco began his career as a naval architect and marine engineer.
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.
Mr. Shah comments on Mr. Bianco’s arrival: “I am very pleased Ralph has agreed to bring his considerable talents to JetPay. Developing low-cost, financial services products for our business customers and, particularly, for the benefit of their employees is a goal I have had for many years. Ralph shares my enthusiasm for prepaid card products and their usefulness for consumers, so I know our product will be both good for the company and, most importantly, good for cardholders.” Mr. Shah added, “Ralph is thorough, is a visionary, and will work with me to deliver a world class suite of prepaid products that are uniquely positioned to meet the needs of consumers with or without bank accounts.”
About JetPay Corporation
JetPay Corporation, based in Berwyn, PA, is a leading provider of vertically integrated solutions for businesses including card acceptance, transaction processing, payroll, payroll tax filing and other financial transactions. JetPay provides a one vendor solution for payment services, debit and credit card processing, ACH services, and payroll and tax processing needs of businesses throughout the U.S. The Company also offers low-cost payment choices for the employees of these businesses to replace costly alternatives. Its vertically aligned services provide customers with convenience and increased revenues by lowering payments-related costs and by designing innovative, customized solutions for internet, mobile, and cloud-based recurring payments.
About JetPay Card Services
JetPay Card Services, a division of the JetPay Corporation, headquartered in Berwyn, PA, provides card issuance and support services for customized pre-paid Visa cards. Among its offerings, JetPay has a totally flexible, pre-paid card that can support both banked and unbanked employees of JetPay business customers through direct deposit of payroll, cash, and bank transfers. This card option saves employees check cashing fees and places employers in charge of their check issuance costs. For more information, please visit www.jetpay.com, www.jetpaycorporation.com, and www.jetpaypayroll.com, for more information on what JetPay has to offer.
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. JetPay’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside JetPay’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to, those described under the heading “Risk Factors” in the Company’s latest filed Annual Report on Form 10-K as amended, for the transition period ending December 31, 2012 and the Company’s Quarterly report on Form 10-Q for the quarter ended September 30, 2013.
JetPay cautions that the foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in JetPay’s most recent filings with the Securities and Exchange Commission. All subsequent written and oral forward- looking statements concerning JetPay or other matters and attributable to JetPay or any person acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. JetPay cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. JetPay does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.