SOURCE: Festival Transaction Services, Inc

FTS, Inc.

September 16, 2013 17:33 ET

Festival Transaction Services, Inc. Welcomes Joseph W. Saunders as a Member of Its Board of Directors

Recently Retired CEO and Chairman of Visa® to Join FTS Board

SEATTLE, WA--(Marketwired - September 16, 2013) - Festival Transaction Services, Inc. (FTS) based in Seattle, WA today announces that Joseph W. "Joe" Saunders will join the FTS Board of Directors. Mr. Saunders, who recently retired from Visa, Inc. as CEO and Executive Chairman of the Board, was responsible for aggregating the seven Visa regional associations into Visa, Inc. and spearheading what still stands as the largest IPO in U.S. history. Mr. Saunders' career in the consumer financial services business also includes senior management positions in Providian, Fleet Credit Card Services and Household International, as well as director positions with Visa, MasterCard International and MasterCard USA.

"FTS has developed an innovative set of cashless operating services by integrating processing, payments and promotion for the fair and festival industry," said Saunders. "FTS services are disruptive in that they allow the event operators to reduce operating expenses and form ongoing relationships with their attendees by going cashless with the FTS Card-as-Ticket(SM). This is an interesting opportunity and I am looking forward to helping with FTS's development."

Charles Brown, Chairman and CEO of FTS, said, "FTS is honored that Joe Saunders has chosen to join our board. This is a milestone event for FTS and speaks to scope of the opportunity we have to deliver value to our customers and shareholders. Joe's depth of experience and leadership adds a dimension to the FTS board of directors that will help it to manage what we anticipate to be substantial growth as we help events replace cash using the FTS prepaid Card-as-Ticket."

About Festival Transaction Services, Inc. (FTS)
FTS offers transaction services to the fair and festival industry including card processing, cashless event services and integrated promotion through FTS's innovative prepaid Card-as-Ticket offering. FTS also operates Festivals.com, the largest Internet resource for information on community festivals, fairs and events, with more than 40,000 events in 80-plus countries classified by Arts, Children, Culture, Motorsports, Music and Sports.

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