Payment Data Systems Announces Board of Director Appointments

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/UCW/ SAN ANTONIO, TX – Payment Data Systems, Inc. (NASDAQ:[stock symbol=”PYDS”] ), an integrated payment solutions provider, today announced the appointments of Steve Huffman and Tom Jewell to its Board of Directors, effective November 11, 2016. Mr. Huffman will serve as the Company’s Audit Committee Chair and as a member of the Company’s Compensation and Nomination Committees. Mr. Jewell will also join the Company’s Audit Committee and chair the Company’s Compensation and Nomination committees. The Company also announced the departure of long-time director Peter Kirby upon his retirement effective November 11, 2016.

“On behalf of the Board and our executive team, we are delighted to welcome Tom and Steve to Payment Data,” said Louis Hoch, President and CEO. “These gentlemen each bring many decades of financial and business leadership to our company along with high level counsel and advisory on management, transaction, audit and governance matters. We look forward to their contributions as we continue on our path of building sustainable long-term growth and value for shareholders.”

“We wish to thank Peter for his invaluable long-term service to Payment Data since our Company’s inception. Peter has distinguished himself in professional and community activities in a career that spans over 40 years, and we were fortunate to be direct beneficiaries of his support and influence for 18 years. All of us at Payment Data wish him the very best in his retirement,” said Michael Long, Chairman of the Board of Directors.

Tom Jewell, CPA, has over 35 years of business leadership experience focused on management, auditing, accounting, internal controls and finance. He is founder and owner of LTJ Financial Consulting, a provider of CFO and controller advisory services for middle market companies in need of accounting process improvements and scale advantages. His clients have included start-up businesses seeking funding and companies in the retail, staffing, construction and software industries. Mr. Jewell has also counseled the FDIC on banking institution closures during the banking crisis. Prior to launching his consulting firm in 2009, Mr. Jewell served as CFO for a multi-state photography studio chain from 2007 to 2009. Prior to 2007, Mr. Jewell provided financial leadership to divisional units of RadioShack, Verizon and Kentucky Fried Chicken, and he began his career at Touche Ross (Deloitte) in 1978. Mr. Jewell is a Certified Public Accountant and is a member of the Dallas and Fort Worth chapters of Financial Executives International (FEI). Mr. Jewell is also a founding member of the Dallas Chapter of the CFO Leadership Council.

Steve Huffman, CPA, has over 30 years of experience developing commercial real estate and currently serves as the president of Huffman Developments, which specializes in turnkey commercial real estate development, primarily for medical and professional office buildings. In addition to his own ventures, Mr. Huffman is often engaged to serve as an owner’s representative to help organizations (typically nonprofit) complete real estate projects. Currently Mr. Huffman is overseeing the development of the National Museum of the US Army, an 185,000 square foot museum including an 82 acre campus at Fort Belvoir in Fairfax County, Virginia. Mr. Huffman began his commercial real estate career in 1983, while also running a successful public accounting practice. He began his career as an accountant with Peat Marwick (now KPMG) and earned his Bachelor of Business Administration from the University of Texas at Austin.

Mr. Huffman is active in community affairs and has served in leadership positions on various civic boards and commissions including the Greater San Antonio Chamber of Commerce, the Finance committee of the Santa Rosa Health Care System, the San Antonio Chapter of the Texas Society of CPAs, Ella Austin Community Center, San Antonio Job Training commission, United Way, the Boy Scouts of America, and Ballet San Antonio. He is also founder and president of Returning Heroes Home, which provides support in a healing environment to the nation’s wounded and their families at Joint Base Fort Sam Houston.

About Payment Data Systems, Inc.

Payment Data Systems (NASDAQ:PYDS), a leading integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, and card issuers. The Company operates credit, debit/prepaid and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Payment Data is headquartered in San Antonio, Texas, and has offices in New York, New York; and Long Beach, California.

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Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.

Investor Contact:

Kristen Papke
Financial Profiles
[email protected]

Source: Payment Data Systems, Inc.

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