News | April 7, 2014

JetPay Corporation Appoints Michael J. McGovern Chief Operating Officer

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JetPay Corporation (“JetPay” or the “Company”) is pleased to announce the hiring of Michael J. McGovern as Executive Vice President and Chief Operating Officer of JetPay. Mr. McGovern will be responsible for all operations and platform innovations of the Company’s three divisions.

Mr. McGovern is a veteran of the United States Army. He went to college on the G.I. Bill, attending Fordham University in liberal arts and Pace University to study accounting.

Mr. McGovern began his career in a corporate setting as a tax accountant then as director of operations at Management Assistance Inc., a computer manufacturing and leasing company. After nine years there, he began his banking career at the Federal Reserve Bank in Philadelphia, where he worked alongside Bipin C. Shah, currently Chairman of JetPay Corporation. Mr. McGovern served at the Federal Reserve for four years, where he had responsibility for data processing and technical services.

With his experience at the Federal Reserve, Mr. McGovern joined American Express where he eventually was responsible for application project management. While at American Express, Mr. Shah recruited Mr. McGovern to join him at Philadelphia National Bank (later renamed CoreStates Bank). Mr. McGovern, in a long and distinguished career with CoreStates rose from Vice President of cash management services, to Senior Vice President of data Processing Systems, and, ultimately, to Executive Vice President of Domestic and International Operations – a position in which he remained for 12 years.

Mr. McGovern then directed the overall operations of CoreStates as it rose from a regional bank to a super regional bank. During this time, McGovern had direct responsibility for the development of a centralized customer service organization; development of multiple worldwide trade products, such as lines of credit and third party payments, across Europe and Asia; and, for a period of time, ran the MAC ATM network and point-of-sale operations under Mr. Shah. At the peak of his career at CoreStates, Mr. McGovern managed a staff of 3,000 employees and a budget of $200M for his divisions.

After his tenure at CoreStates, Mr. McGovern founded MDR Services, a management consulting firm which focuses primarily on banking-related operations and systems. Mr. McGovern is currently President of MDR.

Bipin C. Shah, Chairman of JetPay Corporation, comments on McGovern’s appointment: “Mike is one of those rare individuals who is a talented operations chief and also has a very people-oriented management style. I believe this will serve JetPay very well in our payments business, where we have to understand our customer’s needs and address them in an orderly and flexible manner. Mike will set appropriate priorities and move us forward rapidly to continue to fulfill our customer’s expectations.”

McGovern adds: “I am looking forward to the opportunities a young and growing company such as JetPay presents. JetPay is moving rapidly onto a national stage, and I look forward to contributing to its expansion.”

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 and other financial transactions. JetPay provides a one vendor solution for payment services, debit and credit card processing, ACH services, and payroll and tax processing needs of 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. For more information, visit www.jetpay.com Or www.jetpaycorporation.com, And www.jetpaypayroll.com.

SOURCE: JetPay Corporation

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