SOURCE: JetPay Corporation

JetPay

May 19, 2016 14:33 ET

JetPay HR & Payroll Services Names Doug Harrison as Chief Operating Officer

BERWYN, PA--(Marketwired - May 19, 2016) - JetPay Corporation ("JetPay" or the "Company") (NASDAQ: JTPY), a leading provider of debit and credit card processing for merchants, payroll and human capital management, and prepaid card services, announced today that Doug Harrison has joined the Company as Chief Operating Officer (COO) for its JetPay HR & Payroll Services operation.

"I am very pleased to be joining the JetPay HR & Payroll Services team, which has a long track record of providing clients with top-notch customer service," said Harrison. "The Company is positioned for rapid growth with its industry-leading Workforce Today® Human Capital Management offering. I look forward to working with the team as we build upon these strengths and establish JetPay as a national leader in the HCM outsourcing space."

Harrison has more than 16 years of executive experience in the HR and payroll services industry, with a track record of success in leading startups, turnarounds and rapidly growing companies. He will be responsible for overseeing day-to-day service and operations and improving operational efficiency within the organization. He will be evaluating requirements and developing solutions to ensure that JetPay has the talent, technology, processes and infrastructure necessary to run efficient operations and effectively meet changes in the marketplace.

Prior to joining JetPay, Harrison held a number of senior roles in the HR and payroll services industry. Most recently, he served as the Global Operational Excellence and Compliance Leader for NGA Human Resources, where he streamlined operational governance that resulted in improved customer service and financial performance. He has also held positions as President and COO of PayChoice, as well as Senior Partner/Global HR Services Leader at Accenture.

"I am excited for Doug to join the team. Demand for our single database Human Capital Management offerings is growing rapidly and the organization is quickly evolving to support the associated growth," said Michael Pires, CEO of JetPay HR & Payroll Services. "Doug brings a wealth of experience in the HR and Payroll outsourcing industry and a proven track record for improving client and employee engagement, building high performing teams and driving operational efficiencies and financial results. He will help us scale our national footprint and operation effectively moving forward."

Doug will be based in JetPay's HR & Payroll Services headquarters in Center Valley, PA.

About JetPay Corporation

JetPay Corporation, based in Berwyn, PA, is a leading provider of vertically integrated solutions for businesses including card acceptance, processing, payroll, payroll tax filing, human capital management and other financial transactions. JetPay provides a single vendor solution for payment services, debit and credit card processing, ACH services, and payroll and human capital management needs for businesses throughout the United States. The Company also offers low-cost payment choices for the employees of these businesses to replace costly alternatives. The Company's vertically aligned services provide customers with convenience and increased revenues by lowering payments-related costs and by designing innovative, customized solutions for internet, mobile, and cloud-based payments. Please visit www.jetpay.com for more information on what JetPay has to offer or call 866-4JetPay (866-453-8729).

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. JetPay's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside JetPay's control and are difficult to predict. Factors that may cause such differences include, but are not limited to, (a) the possibility that JetPay's acquisition of CollectorSolutions, Inc. ("CSI") pursuant to the agreement and plan of merger, dated February 22, 2016 (the "merger agreement"), does not close when expected or at all; (b) the ability and timing to obtain required regulatory approvals and JetPay's stockholder approval, and to satisfy or waive other closing conditions under the merger agreement; (c) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement or could otherwise cause the transaction to fail to close; (d) the ability of JetPay and CSI to promptly and effectively integrate their respective businesses; (e) the outcome of any legal proceedings that may be instituted in connection with the transaction; (f) the receipt of an unsolicited offer from another party for an alternative business transaction that could interfere with the proposed transaction; (g) the ability to retain key employees of JetPay and CSI after the transaction; (h) the possibility that there may be a material adverse change affecting JetPay or CSI, or that the respective businesses of JetPay or CSI may suffer as a result of uncertainty surrounding the transaction; and (i) the risk factors described under the heading "Risk Factors" in the Company's Annual Report filed with the Securities and Exchange Commission ("SEC") on Form 10-K for the fiscal year ended December 31, 2015, the Company's Quarterly Reports on Forms 10-Q and the Company's Current Reports on Form 8-K.

JetPay cautions that the foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in JetPay's most recent filings with the SEC. All subsequent written and oral forward- looking statements concerning JetPay or other matters and attributable to JetPay or any person acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. JetPay cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. JetPay does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

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