The SpendSmart Payments Company, Inc. Acquires SMS Masterminds and Appoints Alex Minicucci as CEO

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The acquisition brings a partnership of payments and marketing solutions.

Mr. Alex Minicucci, CEO of The SpendSmart Payments Company, Inc.

In naming Alex Minicucci as the Company’s new Chief Executive Officer, we have gained a young, innovative and creative thinker with proven success in building a great business from the ground up with very little capital.

The SpendSmart Payments Company (OTCQB: SSPC) (“SpendSmart”), a provider of payment solutions that support smart spending habits, announced that it has appointed Mr. Alex Minicucci as the Chief Executive Officer and a director of the Company. Mr. Minicucci is a proven entrepreneur with an 18-year background in web, ecommerce, and mobile marketing.

“In naming Alex Minicucci as the Company’s new Chief Executive Officer, we have gained a young, innovative and creative thinker with proven success in building a great business from the ground up with very little capital,” remarked Mr. Joe Proto, SpendSmart’s Chairman of the Board. “He’s remarkably adept at navigating and leveraging new marketing channels and will bring a fresh perspective and momentum to the Company, allowing us to further expand our consumer offerings.”

In November 2008, Mr. Minicucci founded SMS Masterminds, subsequently earning several recognitions such as ‘Top 20 under 40 Entrepreneur’ in 2013 in Tri-Counties California. From 2006 to 2008, he served as Chief Operating Officer of TechXpress, Inc., a managed service IT firm. Between 2000 and 2003, Mr. Minicucci built and sold one of the nation’s largest virtual tour providers, USA Virtual Tours, to MediaNews Group.

“I am honored that the SpendSmart Board of Directors chose me to lead the company,” said Mr. Minicucci. “Consumers are increasingly interested in mobile awards and offers tailored to them on a hyper local level, and our extensive licensee network across the US allows us to react quickly and deploy new campaigns with ease. My focus will be to drive our ability to bring valued and innovative products to the market, and I look forward to finding new opportunities for brand expansion. Leveraging the combination of SMS Masterminds’ rapidly growing licensee and merchant base as well as its over 1.6 million consumers using the mobile rewards service and SpendSmart’s payments capabilities will be a powerful combination in the mobile marketing and payments space.”

Mr. Michael R. McCoy, the outgoing Chief Executive Officer, will continue to serve as a director of the Company. “SpendSmart has taken a major step to expand its value proposition to its cardholders, and now the merchant community, through the SMS Masterminds acquisition. I look forward to continuing to serve on SpendSmart’s Board as we move into the next phase of company growth and expansion.”

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About The SpendSmart Payments Company
The SpendSmart Payments Company, Inc. (OTCQB: SSPC) is making money smarter. The Company is expanding its prepaid debit card services from issuing its own cards to select user demographic segments, to the providing SpendSmart Program Manager services to third-party card issuers. The Company's primary product, the SpendSmart Prepaid MasterCard for teens, offers resources to families with teens who want to learn responsible spending habits. The SpendSmart card provides its users with modern methods of developing financial literacy, centered around a card solution for parents who aim to guide their teens in making sensible, economic choices. The card helps open the lines of communication between parent and teen by tracking spending in real time and, ultimately, creates teachable moments around smart spending habits. For more information, please explore

About SMS Masterminds
SMS Masterminds, a division of The SpendSmart Payments Company, Inc. (OTCQB: SSPC) is a technology company founded in 2008 by serial entrepreneur Alex Minicucci that is changing the way mobile marketing services are used by small and medium sized businesses. This new integrated, data-driven approach combines the core functions of SMS/text messaging, mobile web and email helping businesses create stronger relationships with their customers through the use of proprietary social and mobile marketing tools.

Safe Harbor Statement
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.

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Nicole Jacobsen
SMS Masterminds
since: 08/2010
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