Stephen B. Galasso

Steve has an extensive financial services background. Since early 2005 Mr. Galasso has been strategic advisor and independent board director to Advanced Payment Solutions, an early stage company that launched the UK's first prepaid bankcard. Prior to joining Advanced Payment Solutions, Mr. Galasso was Chairman and CEO of NetSpend Corporation, a US prepaid payment solutions company. Under Steve's leadership NetSpend grew from less than $1 million in revenues in 2001 to over $40 million in forward revenues in 2004. The company won the Portfolio Company of the Year award in 2003 from the National Association of Small Business Investment Companies (NASBIC). It is one of the largest and fastest growing prepaid companies in the world. The company was sold in 2004.

Mr. Galasso was also formerly the President and CEO of Universal Value Network, a payment card and data management company, which he was instrumental in selling in 2000. Prior to that venture, Mr. Galasso was the President and CEO of Bank of America's credit card company. He grew that company to be Visa's fifth largest issuer worldwide. Prior to Bank of America, Mr. Galasso was Vice President and Marketing Director of Communications, Strategic Planning and New Products for Citibank, Visa and MasterCard products.

Mr. Galasso earned his B.S. degree in Marketing from Fordham University and an M.B.A. from Fordham University Graduate School of Business in New York.

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