Berwyn’s JetPay Corporation has named payments industry veteran Larry Stone to its Board of Directors following his substantial investment in the company.

Stone has invested $19.6 million through a debt and equity combination into JetPay, a leading provider of debit and credit card processing services, payroll and human capital management services, and prepaid card services.

His $9.5 million debt investment will cover a senior secured loan at JetPay’s Human Resource and Payroll Services subsidiary, while the equity investment of $10.1 million is from shares of previously authorized convertible preferred stock with JetPay’s existing investor, Flexpoint Ford.

Alongside the very welcome funding, Stone brings nearly three decades of executive experience in the payment processing industry to his position on the Board. Most recently, he served as a Principal and Director of Mercury Payment Systems, and previously as the Founder and CEO of Card Payment Systems.

“I welcome Larry to the Board of Directors of JetPay,” said Bipin Shah, Chairman of the Board. “I have known Larry for over 25 years, and have great respect for his accomplishments in the industry.”

Check out previous VISTA Today coverage of JetPay here.