Gray has previously held senior management positions with key vendors in the payments industry prior to this appointment.

"With over 15 years of executive management experience, Shaun Gray will bring a wealth of payments industry knowledge and business development experience which should provide the leadership and passion to drive the execution of the Company's growth strategy and market plans for our payments business," said Cyril McGuire, Chief Executive Officer of Trintech.

"Shaun Gray has already demonstrated his ability to achieve significant sales growth and build global channels in his previous positions with Dione and Siemens and this experience will be leveraged to execute the exciting sales and market opportunities that exist for the PayWare business," added Paul Byrne, President of Trintech.

Prior to joining Trintech, Gray was Chief Executive Officer of Dione Plc, a Lipman Company (Nasdaq: LPMA), where he initially led a turnaround followed by several years of strong profitable growth for the company before it was acquired by Lipman in 2004. Prior to joining Dione, Gray held a number of senior management positions in IT companies with responsibilities for general management, international business development and strategic sales alliances.

"This is a tremendous opportunity to join Trintech and lead the next phase of growth in its payments business. The global payments industry has significant growth potential and with the product set, investment and team that Trintech has built, I look forward to the opportunity and challenge to work with a growth orientated organization with a desire to remain at the forefront of its industry" said Gray.