PYPR new CEO
PayPro, Inc. Names New CEO
via COMTEX
August 30, 2005 11:19 am
FORT WORTH, Texas, Aug 30, 2005 (BUSINESS WIRE) --
PayPro, Inc. (Pink Sheets:PYPR) announced today that Jack Brown, currently serving as Secretary of PayPro, Inc., and Chairman & CEO of ChexCard Corporation, a subsidiary of PayPro, will become the new CEO effective immediately, replacing Mike Terrell, who will remain with the Company as Executive Vice President and also will assume Mr. Brown's office of corporate Secretary.
Mr. Brown has been aggressively pursuing loan commitments for ChexCard to finance the Company's long-term growth strategies. He is currently engaged in direct discussions with several Central and South American financial institutions that have shown significant interest in providing financing packages for ChexCard.
Mr. Brown and Mr. Terrell of PayPro, Inc., in a joint statement issued today, stated, "This new arrangement will allow us a better opportunity to raise investment capital in Central and South America where our current base is strongest. Also, it will allow Mr. Terrell to focus on domestic growth programs that are essential to our long-term growth outlook. We are both excited about our future." Jack Brown also stated, "In our operations at PayPro, Inc., the public can be assured that we will continue to implement the programs, policies and methodologies that have made ChexCard an industry leader for the last five years."
For further information now on PayPro, Inc., please visit our website at www.mybankcard.com.
About PayPro, Inc.
PayPro conducts debit card operations throughout the United States and in five countries including its domestic operations. The Company's stored value debit cards are sold under the brand names CHEXCARD(R) and MYBANKCARD to businesses, governmental agencies and individuals. The MYBANKCARD and CHEXCARD(R) products are revolutionary new ways to handle your financial independence. These stored value debit cards are not credit cards. The cardholder has no interest to pay, no monthly credit card payments to make and no credit approval requirements. Each of these stored value debit cards are full function VISA and MasterCard Bankcard products, yet the cardholder does not have to have a bank account to qualify for the cards and no credit checks are required.
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