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JetPay appoints Ralph Bianco to lead pre-paid card unit

06 February 2014  |  1159 views  |  0 Source: JetPay Card Services

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."

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