Payment Data Systems Board Appoints Two New Outside Directors

SAN ANTONIO, April 27, 2015 (GLOBE NEWSWIRE) -- Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider, Board of Directors announced today that it has unanimously appointed two new outside directors to its Board. The appointments fulfill one of the requirements for our anticipated Nasdaq Listing by creating a five member board with two inside directors and three outside directors. Dr. Peter G. Kirby will continue as our senior and long-serving outside director and also executed an independent director's agreement.

The two appointments are Mr. Miguel Chapa and Mr. Kirk Taylor.

Mr. Chapa completed his education with a BA degree in Finance in 1998 from Monterrey Institute of Technology and Higher Education. This educational institution is one of the largest private, nonsectarian and coeducational multi-campus universities in Latin America with over 65,000 students at the undergraduate, and postgraduate levels. Based in Monterrey, Mexico, the Institute has 31 campuses in 25 cities throughout the country and is known for becoming the first university ever connected to the Internet in Latin America and the Spanish-speaking world, having one of the top graduate business schools in the region and being one of the leaders in patent applications among Mexican universities.

During the past 17 years Mr. Chapa has focused primarily on building a highly successful entrepreneurial career. His skills of business planning, financial analysis, strategic planning, management, and negotiations has led him, as CEO, to build successful companies in the entertainment, service and food industry.

Mr. Taylor has over 20 years of business experience focused on management and accounting/finance. Mr. Taylor serves as Chief Operating Officer, Executive Vice President, Corporate Secretary, Treasurer, and as a member of the Board of Directors of Alamo Concrete Products Company and Alamo Transit Company. These companies are one of the largest ready mix concrete producers in the United States, with significant vertically integrated crushed stone, sand, gravel, and logistics operations. Additionally, he serves as Executive Vice President, Corporate Secretary, and Treasurer for Alamo Cement Company, which manufactures and sells cement. Mr. Taylor joined the Alamo group of companies in November 2004 as the Controller and has held various managerial and executive positions, becoming the Corporate Assistant Secretary and Assistant Treasurer in May 2008 prior to reaching his current positions in May 2014. Prior to November 2004, Mr. Taylor served as the Corporate Controller at the largest grocery chain in south Texas and Mexico. He also served as the Controller at Billserv (the predecessor entity to Payment Data Systems, Inc.) from March 2000 to June 2001.

Mr. Taylor, a Certified Public Accountant, began his career in public accounting with the accounting firms of Price Waterhouse LLP and Ernst & Young LLP, with the last position held being Audit Manager-Entrepreneurial Services. His clients included SEC registrants and privately owned companies in the Communications, Technology, Retail and Manufacturing industries. Mr. Taylor holds a Bachelor of Business Administration Degree in Accounting from the University of Texas in San Antonio.

Mr. Taylor is expected to be named as Chairman of our Audit Committee.

Michael Long, Chairman and CEO, said, "The Board of Directors is very pleased to add these appointees. They bring unique and diverse perspectives and experiences to our Board and will be extremely helpful as we continue our growth and expansion."

About Payment Data Systems, Inc.

Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments.

For additional information, visit Contact Michael Long for Investor Relations information at 210.249.4040 or email at


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Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.

Source:Payment Data Systems, Inc.