Transcard Appoints John Ainsworth As President

John Ainsworth has been appointed to President of Stored-Value Processor, Transcard. Prior to joining Transcard, John served as senior business leader with MasterCard Worldwide. His seasoned background includes over 15 years of executive sales and management experience with leading financial organizations such as SunTrust Bank, Visa International, and BlueTarp Financial. John attended The University of Tennessee, Vanderbilt University, and American Institute for Banking.

CHATTANOOGA, Tenn. (Business Wire EON) December 18, 2007 -- John Ainsworth has been appointed to President of Stored-Value Processor, Transcard. Prior to joining Transcard, John served as senior business leader with MasterCard Worldwide. His seasoned background includes over 15 years of executive sales and management experience with leading financial organizations such as SunTrust Bank, Visa International, and BlueTarp Financial. John attended The University of Tennessee, Vanderbilt University, and American Institute for Banking.

We are enthusiastic to have John join our team. His credentials speak for themselves and we are confident John has the ability to carry our company forward into the future.

Craig Fuller, CEO of Transcard, stated, “We are enthusiastic to have John join our team. His credentials speak for themselves and we are confident John has the ability to carry our company forward into the future.”

About Transcard

Transcard, a division of Innovative Processing Solutions, offers electronic funds transfer services including direct-to-card payroll technology, electronic fuel and transaction processing, asset management services, and research and development of technology services for the trucking industry. IPS focuses on the agricultural, staffing, hospitality, food service, floor-covering, transportation, warehousing, and construction industries. IPS provides electronic processing services specifically tailored to the trucking and payroll card industries. Innovative Processing Solutions processes over $1 billion dollars in electronic transactions per year. Innovative Processing Solutions is based in Chattanooga, TN. For additional information, please visit www.transcard.com.