BillMyParents Appoints Global Payments Executive William Hernandez as President
(Marketwire Via Acquire Media NewsEdge) SAN DIEGO, CA -- (Marketwire) -- 11/27/12 --
Teen payments solutions company BillMyParents, Inc. (OTCQB: BMPI) today announced the appointment of William Hernandez as the Company's President. Mr. Hernandez has served on BillMyParents' Strategic Advisory Board since April 2012, where he has made significant contributions to the Company's strategy in the banking and prepaid card space.
Mike McCoy continues to lead the Company as CEO and Chairman, while Mr. Hernandez will serve as President, focusing on execution of growth strategies for both current and future product categories and geographies.
Mr. Hernandez brings more than 30 years of experience in the global financial services, payments, card programs, transaction processing, global card networks, and brokerage industries. He was most recently President and CEO of Conifer Consulting Group, an independent financial services and payments consulting company providing a broad range of strategic and project-based services to financial institutions. Previously he was Executive Vice President at Epana/Unidos Financial, a financial services and telecommunications company developing and delivering financial and telecommunications products including prepaid debit, money transfer, bill payment, and prepaid phone cards to Hispanics in the US and Mexico. Mr. Hernandez has also been Executive Vice President of First Data Corporation directing its U.S. Card Strategic Financial Services. During his 7 years at MasterCard International, Mr. Hernandez was Senior Vice President of the Americas, managing sales and business relationship teams nationally for the largest U.S.-based financial institutions.
Prior to MasterCard, he was employed by Citibank for 11 years, where he held various global executive positions and managed global and regional consumer card and bank products, and access channels for Citibank in the Latin America, Europe, Asia and U.S. regions.
He has also held executive positions at Financial Guaranty Insurance Co., Shearson American Express and Manufacturers Hanover Trust Company.
"Through both our debit card offering and our proprietary online payment solutions, we offer teens and their families payment options that are tailored specifically to their needs. There is tremendous potential for us to quickly ramp our business not only based upon our current products but also through expansion into new geographic and demographic markets," stated BillMyParents Chairman and Chief Executive Officer, Mike McCoy. "William Hernandez is the ideal person to execute on these growth initiatives. He has deep industry experience and has led new market initiatives at some of the top companies in the payment industry."
Hernandez added, "I am very excited to expand my role at BillMyParents. This is a very dynamic time in payments, with technology enabling new products and the convergence of traditional and online payment systems. Having worked with the BillMyParents team, I believe we are well positioned to build the company into a leader in the space."
For more information, please visit: www.BillMyParents.com
BillMyParents, Inc. (OTCQB: BMPI), the Responsible Teen Spending Company, offers a solution for parents who want to help their teens develop smart spending habits. The BillMyParents SpendSmart MasterCard card is the instantly trackable, reloadable MasterCard prepaid card that lets parents and teens track spending in real time. Features include the ability to instantly lock, unlock and reload the card at any time; text alerts to parents and teens showing real-time transaction details with each purchase; and the freedom and security of a MasterCard prepaid card without the risk of overdrafts, accruing debt or affecting credit scores. BillMyParents provides parents with a modern way to help teach their teens financial responsibility, when it counts. For more information, please visit www.BillMyParents.com.
The SpendSmart Prepaid MasterCard card is issued by University National Bank, member FDIC. MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.
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