Paymate Bolsters its Board of Directors with New Appointment

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Industry Veteran Jim Morris Joins the Board.

Paymate, an innovative provider of payment services, announced today that it has added significantly to the depth of its Board of Directors with the appointment of Jim Morris to the Board.

Approved more than a year ago as an integrated provider of online payments on eBay in North America, Paymate has experienced dramatic growth both on eBay and with online merchants. Given that growth, it is "building up" the Board of Directors, as it has the management staff, with the addition of Jim Morris.

"We have spent much of our time over the past few months growing our business in North America, and are now a major force in online payments both on and off of eBay," says Garrett Gafke, CEO, Paymate. "In so doing, we realize that it is time to deepen our bench by adding business experience and perspective to our Board, and we've achieved that with the appointment of Jim."

Jim Morris is president of JBM Properties, Inc., an investment firm that is an active investor in early-stage private equity and commercial real estate. Representative early-stage direct investments include: Ross Stores - Dress for Less; iBaby.com, acquired by iVillage.com; Taxcient, acquired by Avalara; and OK Skate.

Jim served for eight years as a trustee of the University of California, Berkeley Foundation. Jim is currently a trustee of the University of California, San Diego Foundation, has served for nearly 15 years as an advisory board member at the Entrepreneurial Management Center at San Diego State University, and has also chaired the UC San Diego Athletic Board for the past five years.

"I'm excited to be invited to become a member of the Paymate Board of Directors," says Jim. I believe that there is a unique opportunity for a forward-thinking company such as Paymate in the vast and growing online payments market."

About Paymate

Paymate is the leader in providing secure, reliable, and innovative payment services to buyers in 57 countries around the world and sellers in North America, Australia, and New Zealand. Our mission is to help you trade with the world. We pride ourselves on being trusted for the secure conduct of financial transactions, reliable in all our dealings, and friendly in delivering services to our clients.

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