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IndustryUpdate

TCH partners with Mastercard APPOINTMENTS

The Clearing House and Mastercard partnered to enable
TCH to deliver and manage Mastercard-branded tokens Fredriksen changes roles at PSCU
on behalf of banks. The partnership establishes TCH as
one of the first Mastercard-certified third-party Token As part of a PSCU organizational change, Gene Fredriksen
Service Providers to enter the U.S. market, and enables transitioned from the role of Chief Information Security
TCH to support current and future token capabilities Officer to Chief Information Security Strategist. In this
ranging from mobile payments to remote purchases and newly created role, Fredriksen will report on strategic
Internet-of-Things transactions, the partners stated. functions primarily focused on relating PSCU's per-
spective and stance on cybersecurity to existing clients,
ACQUISITIONS prospective clients, consultants in the credit union space,
and the industry as a whole.

Chase to acquire WePay Garner tapped by Blackhawk
JPMorgan Chase & Co. revealed plans to acquire WePay, Blackhawk Network Holdings Inc. appointed Chartered
which is expected to enable app makers and ISVs to Financial Analyst Charles O. Garner as its Chief Financial
integrate payments into the software commonly used Officer. Garner succeeds Jerry Ulrich as CFO. Ulrich will
by small businesses. The acquisition, pending approv- serve the company as Chief Administrative Officer until
als and customary closing conditions, demonstrates his retirement. Garner, a seasoned executive with experi-
Chase 's commitment to investing in payments fintech ence in both finance and operations, previously served
for small business, and follows the firm's recent collabo- as Chief Financial Officer and Chief Administrative
ration with Bill.com to make it easier for business clients Officer of Zelis Healthcare Corp.
to run their businesses, the company noted.
Kaplan to lead Sage
Fintrax purchases Planet Payment Sage Payment Solutions appointed Joe Kaplan as Chief

Fintrax Group Holdings Ltd. and Planet Payment Inc. Executive Officer. In this role, Kaplan intends to mag-
entered a definitive agreement under which Fintrax nify the company's growth strategy through innovative
will acquire Planet Payment for $4.50 per share in cash. partnerships and purposeful capabilities acquisitions.
The transaction is expected to close by the end of 2017. Kaplan previously held positions as founder of Superior
In connection with execution of the agreement, Planet Financial Group, President of Innovative Merchant
Payment directors, executive officers and certain share- Solutions, President and CEO of Superior Bankcard
holders entered into support agreements with Fintrax Service, and co-founder and President of Consumer
pursuant to which they agreed to tender their shares into Fraud Protection.
Fintrax's offer.

Maguire joins CO-OP

Matthew Maguire joined
CO-OP Financial Services as
Chief Data Officer. In addi-
tion to advancing the firm's
technology goals, Maguire
will be tasked with helping
the credit unions that are
part of the CO-OP ecosys-
tem make greater use of their
data with emerging technolo-
gies, such as machine learn-
ing and artificial intelligence.
Maguire joins CO-OP from
Bank of America where he
spent more than 10 years
honing his global technology
experience.

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