SOURCE: BillMyParents

BillMyParents

January 26, 2012 09:32 ET

BillMyParents Appoints Joe Proto to Board of Directors

SAN DIEGO, CA--(Marketwire - Jan 26, 2012) - BillMyParents, Inc. (OTCQB: BMPI) (OTCBB: BMPI), the Responsible Teen Spending Company, announced today the appointment of Joe Proto as a new member of the Company's Board of Directors, effective January 25, 2012.

A seasoned and successful senior executive and entrepreneur with three decades in the billing and payments industry, Mr. Proto is currently the Chairman and Chief Executive Officer of electronic billing company Transactis Inc. He founded REMITCO, a remittance processing company where he also served as President for 11 years, which was acquired in 2000 by First Data Corp. Mr. Proto also founded Financial Telesis (CashFlex), a payment processor to 65 of the top 100 banks in the U.S., which was acquired by CoreStates/Wachovia and is now a part of Wells Fargo. In 2004, Mr. Proto co-founded Windham Ventures, an investment company focusing on financial technology and life sciences companies, where he currently serves as a founding partner.

Mike McCoy, BillMyParents' Chairman and Chief Executive Officer, commented, "We are honored to welcome Joe to our Board of Directors. He is deeply knowledgeable about the payments industry as well as the financial technology field. As one of the leading experts in the payment industry, we believe Mr. Proto will be an invaluable asset to BillMyParents."

BillMyParents also announced today Board member Mark Sandson's retirement from the Board, also effective January 25, 2012. Going forward, the company has engaged Mr. Sandson in a consulting role.

"The Board of Directors greatly appreciates Mr. Sandson's contributions, and expects to continue to benefit from his experience and insights," said Mike McCoy.

The company's flagship product, the BillMyParents SpendSmart™ MasterCard® card, gives parents the tools to promote responsible teen spending habits in real-time. Instant alerts via text or email enable parents to see purchase information as it happens, and the service provides peace of mind through multiple features, including instant lock/unlock and emergency load, as well as family/friends funding options.

For more information, please visit: www.BillMyParents.com

About BillMyParents
BillMyParents, Inc. (OTCQB: BMPI) (OTCBB: BMPI), a leader in responsible spending solutions for families, 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 BillMyParents SpendSmart MasterCard card is issued by University National Bank pursuant to license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.

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