SOURCE: The SpendSmart Payments Company

The SpendSmart Payments Company

July 11, 2013 07:00 ET

The SpendSmart Payments Company Appoints Yaniv Schahar as Chief Technology Officer

Schahar Built Technology Infrastructure for Companies That Led to Hundreds of Millions in Annual Revenues

SAN DIEGO, CA--(Marketwired - Jul 11, 2013) -  The SpendSmart Payments Company (OTCQB: SSPC) -- a provider of payment solutions that support smart spending habits -- announced today the appointment of Yaniv Schahar to the Company's newly created position of Chief Technology Officer.

Mr. Schahar brings to SpendSmart over eighteen years of experience in technology and software engineering. He was most recently VP of Software Development at M5 Networks, the premium provider of hosted VOIP, where he led a number of teams responsible for the company's core technology infrastructure. Based on this infrastructure, M5 Networks' monthly revenue tripled to $75 million and the company was acquired by ShoreTel, where Mr. Schahar became Sr. Director of Software Engineering at ShoreTel's cloud division. Prior, he was VP of Software Development at Epana/Unidos Financial where he developed a direct sales application for the company that created revenues of over $200 million per year. At Epana he also led a team that developed the company's financial services platform for "unbanked" consumers. Before joining Epana, Mr. Schahar was VP of Research and Development at Correlate Technologies where he led the development of the company's products from drawing board to sales. Mr. Schahar received his BSc in Physics and Mathematics and MSc in System Engineering from Tel Aviv University with honors.

"As we prepare to scale up and address multiple market opportunities with our SpendSmart cards, this is a time when we need a skilled technology architect to build our systems to support rapid revenue growth. Yaniv has done this and he's done it specifically in the financial services sector," stated Mike McCoy, CEO of The SpendSmart Payments Company.

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About The SpendSmart Payments Company
The SpendSmart Payments Company, Inc. (Ticker: SSPC) is making money smarter. The Company's primary product, the SpendSmart prepaid card for teens, offers resources to families with teens who want to learn responsible spending habits. The SpendSmart card provides its users with modern methods of developing financial literacy, centered around a card solution for parents who aim to guide their teens in making sensible, economic choices. The card helps open the lines of communication between parent and teen by tracking spending in real time and, ultimately, creates teachable moments around smart spending habits. For more information, please explore

Safe Harbor Statement
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.

Contact Information

  • Investor Relations Inquiries:
    Laurel Moody
    Corporate Profile, LLC