Armen K Khachadourian

                                       GLOBAL PAYMENTS SYSTEMS LEADER

Seasoned senior banker, dynamic, multicultural sales and marketing specialist offering unique skill set in developing global payment processing services and providing perspective that can help financial institutions maximize growth in today’s changing marketplace. Has over 25 years sales and product management experience in developing new payment solutions, expanding acceptance to new markets and creating new sustainable concepts for the future

PROFESSIONAL HISTORY
Digital Payments Inc.
President and Founder                                                                          
11/06 to present            
           
Formed a boutique consulting firm providing advisory services in the areas of alternative electronic payment products, financial service offerings and merchant acquiring services. Key activities include:
          

           Current & ongoing:

• Cre'dito al Desarrollo Sustentable, S.A.: Providing guidance in obtaining MSB license and developing a cross border money transfer program.
• Simon Property Group: ATM and merchant acquiring services.
• Health Advances Labs U.S.A.: Acting as Chief Operating Officer and operating the plant.
• NPC: Merchant acquiring services
  • TSYS Acquiring Solutions: Helped with the integration of the Infonox acquisition and developed marketing programs for the multifunction kiosk. Provided guidance to expand product offerings to merchant card acceptance.
  • First State Bank of NE: Provided guidance to expand into the merchant card acceptance business. Obtained Visa and MasterCard ISO/MSP licenses and developed, risk management, AML/BSA policies and procedures. Participated in FDIC site audits and regulatory reviews. Provided compliance oversight and reported to the board of directors on a regular basis.
  • Global Swift Funding LLC: As the acting CFO/COO structured and industrialized to meet the growing needs of the company including implementation of NetSuite ERP system enterprise integration, underwriting guidelines and BSA compliance policies.
    • Developed the Debit Card Solutions and Operations Infrastructure to issue prepaid cards, including partnerships with VISA, NYCE, Metavante, FirstBank of Tennessee and Interlink to deliver a robust debit processing and support services for Tier Technologies.
    • Created an ongoing utilization program for prepaid Visa debit cards for state agencies and digitized 4 million monthly check payments.
    • Formed an industrial loan bank charter. Activities included building the staff, forming a board of directors, obtaining FDIC and state banking approval, gaining Visa Membership, developing key policies to comply with SOX, GLB, Bank Secrecy Act, AML, Investment and other corporate policies. The bank application was put on hold due to FDIC’s recent ILC policy.  
    • Represented Tier at Federal Reserve Bank Meetings and Seminars as the Prepaid Debit Card Industry subject matter expert 
       
      JPMorgan Chase, New York
              – Vice President, Product Management & Strategic Planning                               12/03 – 11/05
                                                                                           
      Tasked as the global product manager for JPMChase Treasury services, managed the prepaid card platform across the BankOne merger and developed the legal and functional infrastructure to expand overseas.
      • Obtained new global product approval to expand prepaid debit cards overseas – issued € denominated debit cards in EU. Developed the legal structure in UK and obtained licensing rights to passport debit and commercial cards to all 28 EU countries. Specific activities included forming an alliance with WildCard Systems and eFunds Corporation to develop a global debit card service offering
      • Developed a disaster relief MasterCard prepaid card for FEMA and Red Cross. Expedited 100,000 cards within three days. Over $70 million in financial aid was distributed as part of the Hurricane Katrina relief effort within a week timeframe
      • Issued prepaid cards to over 10 US Treasury Agencies, and a multipurpose, Java chip based MasterCard Debit payroll card to the U.S. Navy and Marines – over 100,000 cards issued. Digitized 57 battleships with no cash on board.
      • Structured JPMChase as a Healthcare Savings Account Service provider.
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          VISA USA, San Francisco
                 – Senior Vice President                                                              1983 – 2003
                   1998 – 2003

          Formed a highly motivated team of senior managers and structured a new business development unit that explored expanding use of debit cards to new market segments to replace cash and checks.
          Accomplishments include:

          • Supermarket industry. Developed a payment solution to expedite consumer activated, in-lane acceptance of credit and debit cards. Increased annual Visa sales volume from $400 million to $50 billion in 7 years.
          • Recurring payments industry – focused on insurance, property management, ISP, cable and telecommunications segments.
          • Business to Business: Established new markets for the VISA B2B program. Focused on supplier enrollment programs enabling online bill payment and enhanced data.
          • Structured a cross functional team and responded to Federal Government’s GSA Smart Pay proposal. Obtained 76% of the business including Department of Defense, Veterans Administration and U.S Postal Service generating over $10 billion in annual sales revenue. Replaced the American Express travel card with Visa.
          Expanded card acceptance to Federal and state government agencies including the U.S Postal Service, State department, Customs office, IRS and others. Generated $10 billion in incremental annual sales.
          1983 – 1997
          
          Held management positions in Systems Development and Technical Support. Developed the Travelers Check Refund Referral System and the Visa Data Capture terminal program providing middle and small businesses a cost effective payment solution to process credit card transactions.
          
          NCR Corp, San Francisco
                  – Account Manager/Systems Programmer                                           1976 – 1983
          Managed the Bank of America account.  Focused on the Bank’s Electronic Services and Advisory Services that provided global solutions to their affiliates overseas. Prior to that, programmed NCR Point of Sale Terminals and Processors
          
          EDUCTAION:
          M.S. – Computer Science,  San Jose State University
          B.S. – Mathematics,  San Jose State University
          Honorary teaching credential, Computer Science, State of California
          
          PROFESSIONAL/PERSONAL ACHIEVEMENTS:
          
          Board of director Global Swift Funding (2007-2008)
          Advisory Board Member US Treasury and US Navy Board of Directors (2003-2004)
          Advisory Board Member National Grocer’s Assoc. (1991 – 1995)
          Developed the textbook and lectured at College of San Mateo for 10 years.
          Member National Masters Triathlon team (2000 – 2003)
          Completed 48 lifetime marathons, 7 Ironman Triathlons, 3 world Championships  
          Negotiated and ratified the Visa Co-sponsorship Agreement with the U.S. Postal Cycling Team signing Tour de France champion Lance Armstrong to the team (1998)
          
          SPEAKING AND OTHER ENGAGEMENTS:
          
          Prepaid Card Expo 2006: “Banking the underserved” 02/06
          USA Today Article: Evacuees can get $2,000 per household from FEMA 09/05
          Federal Reserve Bank of Philadelphia: “Payment Cards and the Un-banked” 7/05
          MasterCard Prepaid Forum: “International Payments and Card Usage” 4/05