iPay Technologies Adds Payments Industry Executive to Enhance Product Delivery

Elizabethtown, KY.- iPay Technologies, the leading independent bill payment provider, announced today the appointment of Guido Schulz as Senior Vice President of Relationship Management. Mr. Schulz will oversee the growth and expansion of iPay Technologies' existing client base, including the company’s Premier Accounts and Inside Sales Divisions. He joins the company with more than ten years of experience in executive sales and client relationship management.

Most recently Mr. Schulz served as Senior Vice President, CRM for Travelex, the world's largest non-bank foreign payments provider. He had responsibilities for nearly one hundred staff and $100MM in client revenues. Prior to that, he served as Director of Sales and Relationship Management for Ruesch International. “Guido’s experience in client management and sales will add additional experience to the iPay team,” said John M. Perry, iPay’s President and Chief Executive Officer; “and his tenacity in providing the leading edge bill payment solutions to iPay clients of all sizes will accrue tremendous value to the company.”

Mr. Schulz began his career in Europe where he worked as Head of Market Research for Western Electric Properties in London, England and as a Marketing Consultant for the government of Slovakia. He holds a bachelor's degree in Social Sciences and Economics from the University of Nuremberg, Germany and attended the University of Notre Dame as a visiting scholar.

Additionally, Mr. Perry stated that iPay Technologies completed a record-breaking year of growth. “The company signed 248 financial institutions in 2008, of which 65 banks and credit unions were added in the fourth quarter. During the same period iPay signed six new alliance partners, which will provide the company with potential access to several thousand new financial institutions.”

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