TransCard Recruits Industry-Leading Talent for Strategic Growth

CHATTANOOGA, Tenn.--(EON: Enhanced Online News)--TransCard (www.transcard.com) – a leading provider of prepaid debit card solutions branded with MasterCard®, Discover® Network and STAR associations – has hired a new Vice President of Risk, Arnold Galit, as well as a new EVP of Global Business Development, Karl Asplund.

“The first things I examined when I came to TransCard were their data protection systems. To my relief, I learned that they have a very sophisticated and secure IT infrastructure in place—giving me a great advantage in terms of risk”

Prior to joining TransCard, Arnold was Vice President of Risk and Compliance for iKobo, Inc. where he was responsible for all aspects of fraud prevention, security, and risk management. He has held leadership positions at innovative companies, including Enfotrust Networks and General Electric—and also established an Atlanta technology startup.

“The first things I examined when I came to TransCard were their data protection systems. To my relief, I learned that they have a very sophisticated and secure IT infrastructure in place—giving me a great advantage in terms of risk,” says Arnold. “I look forward to working closely with the executive team at TransCard to ensure our company continues to keep all of our sensitive data safe.”

Karl has more than 21 years of experience in the payments industry, including designing, building and marketing payment solutions for issuers and acquirers across ATM, POS, and Internet platforms. Most recently, Karl negotiated and secured funding for more than $30 billion in petroleum and mining contracts in Latin America and Europe. He has worked on international banking, dynamic currency exchange and multi-currency processing for five years, while chairing new product development at Paymentech and agent banking at Intuit Processing Solutions.

“I am excited to work with a very talented, high-growth team at TransCard focusing on the development of our global and international initiatives,” says Karl. “The consistent dedication to innovation and customer/shareholder value demonstrated by TransCard in the U.S. markets will be a tremendous strength as we deliver these same values to our global customers.”

“Arnold and Karl complete two areas of our organization that we want to enhance in the coming months—security and international opportunities,” says Jerry Uffner, President of TransCard. “Through adding both of these individuals, we can continue to expand our business safely and securely both in the United States and abroad. It is an exhilarating time to be in prepaid—but even more thrilling to be at TransCard.”

About TransCard

TransCard (www.transcard.com) is a top ten, stored-value processor and a global provider of transaction-based processing services. TransCard has provided stored-value processing services since 1993 and pay card products beginning in 1996. TransCard differentiates itself in the prepaid card industry by offering compliant solutions, real value, proprietary technology, mobile card management and stability. Its products include pay cards, financial institution stored-value processing, gift reward cards, fleet services and retail program management. TransCard handles nearly $2 billion in electronic transactions annually and was featured as a “10 to Watch” by Intele-Card News. The company was recently named as a 2009 Paybefore Awards Best-in-Category Winner for the Best Corporate-Funded Prepaid Card.