SOURCE: Spindle Inc

February 20, 2015 08:30 ET

Spindle Names Lynn Kitzmann Chief Financial Officer; Names Three Industry Veterans to Advisory Board

SCOTTSDALE, AZ--(Marketwired - February 20, 2015) - Spindle, Inc. (OTCQB: SPDL), a leading provider of mobile commerce solutions, has promoted Lynn Kitzmann to chief financial officer. The company also announced that noted industry veterans Brian Bates, Troy Wilkerson and Craig Shapero have joined Spindle's Board of Advisors.

Ms. Kitzmann joined Spindle in 2014 as controller. Prior to that, she held several accounting and financial management positions for both public and private companies in the Phoenix area. She graduated magna cum laude with a degree in accounting from Arizona State University, and has an MBA from the University of Phoenix. Ms. Kitzmann is a Certified Public Accountant licensed in Arizona.

"We are very pleased that Lynn will oversee Spindle's financial operations," said Bill Clark, Spindle's chief executive officer. "In her tenure at Spindle, she has already made a positive impact by streamlining our processes related to payment processing, residuals, and reporting. She is an experienced financial professional with both operation and audit experience, and is fully committed to ensuring that Spindle is compliant, and efficiently run to deliver maximum value to our shareholders." 

In addition, Spindle announced that industry veterans Brian Bates, Troy Wilkerson and Craig Shapero have joined the company's board of advisors.

Brian Bates served in executive capacities with several payments and card processing providers. He served as chief executive officer for Solveras Payment Solutions, and was president and chief operating officer for Transaction Network Services (TNS), a global payments provider traded on the New York Stock Exchange. Prior to that, Bates was president and chief operating officer for Paylinx, an online payment services provider.

Bates stated, "Spindle has assembled the essential platform elements that I believe represent the future direction of payments. Through their integration of POS, marketing and beaconing services in a single, unified platform, they have strategically positioned themselves for what could be significant growth opportunities. I'm excited to join the Spindle Board of Advisors and leverage my long time payment industry knowledge and resources to help create value for both the company and its shareholders." 

Troy Wilkerson brings nearly two decades of finance and operations expertise to Spindle. He has been involved in management and consulting with several providers in the payments and financial services space, including, Stone Fence Partners, Solveras, and Sage Payment Solutions.

Craig Shapero is a 25-year payments industry veteran and founder of Fairway Payments. Prior to Fairway, Craig served as senior vice president of sales at Sage Payments, managing all channels, including an inside sales group that supported agent banks, associations, and other endorsed relationships. In addition, Shapero was a founder at Network 1, and was its vice president of sales and marketing.

Shapero commented, "As a long time shareholder of the company, I am looking forward to taking a more active role at a time which I believe to be a possible inflection point. Having successfully built companies in the space, I believe I can add tangible value by assisting management in executing their business plan, and accelerating adoption and monetization of their highly robust payment aggregation platform." 

"We are very pleased to have attracted three such accomplished and well regarded payment veterans to our Board of Advisors. These individuals are tasked to develop the processes and business models necessary to attract investment and grow the company to revenue levels commensurate with our national competitors," said Clark. "The advice, guidance and industry relationships that Brian, Troy and Craig will provide to Spindle will be invaluable. Their vision, contacts, and managerial success will help us extend our reach, tap into new markets and increase revenue while maximizing overall efficiencies."

About Spindle
Spindle is an innovator of mobile commerce solutions for financial services providers and consumer-facing merchants of all sizes. Spindle is focused on pioneering new ways for businesses to rapidly integrate mobile payments acceptance and mobile marketing services while empowering location-based merchant discovery, fulfillment and frictionless mobile payments for consumers. Spindle is dedicated to expanding beyond traditional electronic payment boundaries by offering cutting-edge solutions that allow clients, partners, merchants and consumers to take full advantage of the rapidly emerging mobile economy. Spindle has an extensive proprietary intellectual property portfolio -- which includes patents pending -- that encompasses networks, mobile payments, and security. For more information, visit

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