People on the Move: Larry Stone, JetPay Corp. Board
Payments industry veteran Larry Stone has joined the board of directors of JetPay Corp., a provider of debit, credit and prepaid card services. Stone also is investing $19.6 million into JetPay through a combination of debt and equity. The proceeds from the investment will be used to repay existing debt and provide working capital to support JetPay’s growth strategy.
With more than 27 years of executive experience in the payment processing industry, Stone most recently was a principal and director of Mercury Payment Systems until its 2014 sale to Vantiv Inc. Prior to Mercury, Stone served as the founder and CEO of Card Payment Systems, a merchant credit card processing company he founded and sold to Concord EFS in 2000.