ALLENTOWN, Pa., Sept. 26, 2018 (GLOBE NEWSWIRE) -- JetPay Corporation (NASDAQ: JTPY) announced today the appointment of Laurence L. Stone as chairman of the Company’s Board of Directors. He assumes the role held by Bipin C. Shah since 2010.

Mr. Stone, who became a member of the JetPay board in October 2016, is an industry veteran with over 27 years’ experience as a payment processing executive. He is the managing member of Sundara Investment Partners LLC, the sole shareholder of LHLJ Inc., and the managing member of Main Line Trading Partners LLC. He also serves on the boards of Olivam Partners LP and Clutch Holdings Inc.

JetPay is a leading provider of vertically integrated solutions for corporations and government entities of all sizes. By developing distinctive and innovative payment solutions for brick-and-mortar, web, mobile and cloud-based environments, JetPay creates financial solutions for thousands of clients nationwide. In addition to payment services, JetPay is a single-vendor solution for debit and credit card processing, ACH services, and human capital management and payroll processing needs for businesses of all sizes.

“We are very fortunate to have someone with Larry’s expertise and insight ready to step into this role and lead our company into the future,” stated Diane (Vogt) Faro, CEO of JetPay. “His extensive knowledge of JetPay ensures a seamless transition for our customers.”

Before joining JetPay as an investor and board member, Stone was a principal and director of Mercury Payment Systems until its sale to Vantiv Inc. in 2014 and Silver Lake Partners in 2010. Mr. Stone previously founded and was an officer of Card Payment Services and Card Payment Systems, Independent Sales Organization merchant processing companies. He served as CEO of Card Payment Systems from 1997 until Concord EFS’s acquisition of Card Payment Systems in 2000. He started his payment processing career at CitiCorp Card Acceptance Services and graduated from the University of Pennsylvania’s Wharton School of Business in 1987.

“I am extremely honored to take on this role and have the opportunity to help JetPay reach even greater accomplishments,” said Mr. Stone. “JetPay is well positioned for continued success, and I look forward to working with our extraordinary leadership team to further strengthen our customer relationships, drive innovation, and increase profitability.”

About JetPay Corporation

JetPay Corporation, based in Allentown, PA, is a leading provider of vertically integrated solutions for businesses including card acceptance, processing, payroll, payroll tax filing, human capital management services, and other financial transactions. JetPay provides a single vendor solution for payment services, debit and credit card processing, ACH services, and payroll and human capital management needs for businesses throughout the United States. The Company also offers low-cost payment choices for the employees of these businesses to replace costly alternatives. The Company's 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 payments. Please visit www.jetpay.com for more information on what JetPay has to offer or call 866-4JetPay (866-453-8729).