Payment Processing, Inc. Appoints John Malnar as CFO

NEWARK, Calif., July 12, 2011 /PRNewswire/ -- Payment Processing, Inc. (PPI), the industry leader for integrated payments, is pleased to announce the appointment of John Malnar, CFA, to the position of Chief Financial Officer. In this role, Mr. Malnar will chart and manage PPI's finances with responsibility for financial operations and reporting, capital structure, budgeting, and relationship management with the investor community.

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With more than a decade of strategic finance experience, counseling public and private companies worldwide, Mr. Malnar's expertise – ranging across a number of industries – includes mergers and acquisitions, IPOs, private placements, growth equity, and corporate finance advisory efforts. Prior to PPI, Mr. Malnar worked at Focus Strategies, served as a Director in Black Rock, Inc.'s Corporate Ventures Group, and was a member of Merrill Lynch's investment banking team. He has studied advanced valuation concepts through the Merrill Lynch Investment Banking Institute at The Wharton School; is a CFA Charterholder; and graduated in finance, with honors, from the University of Texas at Austin.

Payment Processing, Inc.'s CEO, Chuck Smith, commented, "I don't think we could find a more perfect fit for our team. John brings the financial acumen and experience needed for this period of aggressive growth at PPI. I'm genuinely excited to have John filling the CFO role and look forward to the positive impact he'll make for the company."

"Joining the executive team at Payment Processing, Inc. is a tremendous opportunity," added John Malnar. "The company has broken ground in so many facets of integrated payments technology and is poised for unprecedented success in the next few years."

About Payment Processing, Inc.

Since 1995, PPI has been partnering with software developers and their customers, delivering nothing less than robust, stable, fully supported and profitable integrated payment solutions. In 2010, PPI processed in excess of $6.5 billion in Visa® and MasterCard® payments. We provide developers with a full range of in-house services for building and promoting integrated payment solutions, including PPI-developed hosted payment services, integration support, customer support, marketing assistance and PA-DSS/PCI DSS security services. It's why more than 1,600 partners and 50,000 businesses have selected Payment Processing, Inc. as their dedicated payment professionals. Learn more at www.paypros.com.  

Contacts:

Garrett Geib, SkyRocket Group
814-833-5026
[email protected]

Richard Livingston, PPI
919-463-7632
[email protected]

SOURCE Payment Processing, Inc. (PPI)