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IndustryUpdate

form, which enables automated supplier payments in 24 and the closing of the final phase of its $10 million Series
currencies across the globe, the partners said. C round of financing, according to Payveris. Bergamesca
spent over a decade at Online Resources Corp. in a variety
ACQUISITIONS of executive positions, including Executive Vice President
and General Manager of its Banking division.

PayPal acquires TIO networks Hyperwallet taps Engels
PayPal Holdings Inc. and TIO Networks Corp, a cloud- Hyperwallet Systems Inc. appointed Mark Engels as its
based multichannel bill payment and receivables man- Chief Revenue Officer. Engels comes to Hyperwallet from
agement company, formed an agreement under which SecureNet Payments, where he served as the Executive
PayPal will acquire TIO for $2.56 per share in cash or an Vice President of Business and Channel Development
approximate $233 million equity value. TIO serves 14 before the organization's acquisition by Worldpay. As
million consumer bill pay accounts and offers convenient Hyperwallet's CRO, Engels will be responsible for the
solutions for expedited bill payment services to finan- development and strategic leadership of Hyperwallet's
cially underserved consumers, PayPal noted. North American sales and business expansion initiatives.

TouchSuite buys MBSOA TSG brings Michaud aboard
TouchSuite acquired the assets of Merchant Bankcard The Strawhecker Group recently appointed payments
Systems of America. MBSOA has offices in Boston and industry expert Peter Michaud as Director – Project
Miami and services approximately 1,000 merchants. Management. Prior to joining TSG, Michaud served
TouchSuite anticipates a seamless transition period with as Vice President of Product Development at Hap-
no disruption in business operations for MBSOA mer- X, a healthcare B2B payments company acquired by
chants. In addition, TouchSuite stated it will offer MBSOA Global Healthcare Exchange in 2016. He also led Market
merchants additional advanced technology, marketing Research and Competitive Intelligence for TSYS Merchant
products, POS systems and financial instruments. Segment as head of Financial Planning and Analysis for
TSYS Acquiring Solutions.
APPOINTMENTS Rosenberger becomes XOR adviser

Bergamesca signs on with Payveris Larry Rosenberger, former CEO of Fair Isaac Corp. and
current FICO research fellow, joined XOR Data Exchange
Payveris LLC appointed Ron Bergamesca as its CEO. as an investor and board observer. Rosenberger's experi-
Bergamesca joins Payveris as the company continues to ence and expertise in implementing data and analytical
build momentum, entering 2017 with more than 200 finan- models for the financial services industry is expected to
cial institution and fintech partners, doubling of revenues help the fintech startup continue rapid growth, devel-
opment and adoption of fraud
risk models to protect consum-
ers and businesses from iden-
tity theft and data misuse, XOR
said.

Schlegel joins RevSpring

RevSpring Inc. added Richard
Schlegel as its Vice President of
Sales for the Northeast Region.
Schlegel brings "two decades
of experience providing excep-
tional analytical solutions to
those in the accounts receiv-
able management industry
and is a recognized expert in
this field," said Rich Turner,
RevSpring's Vice President of
Sales and Marketing. Directly
prior, Schlegel spent 25 years
at TransUnion LLC, holding a
variety of sales management
and executive roles.

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