1. Armen K Khachadourian email: armen@digitalpayments.net
1316 Silver Hawk Way cell: (619) 947 3453
Chula Vista, CA 91915 URL: http://digitalpayments.net/
GLOBAL PAYMENTS SYSTEMS LEADER
PROFESSIONAL HISTORY
My background provides experience and skill set in developing global payment solutions and
perspective that has helped financial institutions maximize growth in today’s changing
marketplace. For the last three years my Mobile Commerce & Alternative Payments Practice
has been focused almost exclusively on tokenization, pear to pear payments and the impact of
mobile based solutions across the payments landscape. I have developed simple solutions
turning mobile devices into ubiquitous points of sale that just about any business can use.
Digital Payments Inc.
President and Founder 10/06 to present
Formed Digital Payments Inc, a consulting firm providing advisory services in merchant
processing, ISO/MSP formation, post acquisition integration, development of alternative
payment, card acceptance and capital funding solutions, multifunction kiosks, cross border
money transfer and bill payment services, digitizing coupons and prepaid cards. Clients include;
Cre'dito al Desarrollo Sustentable, S.A., Health Advances USA, Cashklick, Freight Capital, TSYS
Acquiring Solutions, NPC, TriSource, PAI, First State Bank, NYCE and others. Key activities and
projects are as follows:
 2/2015 to present: Compliance Online; Contracted to deliver webinars on BSA/AML
compliance and digital currencies.
 03/2011 to 02/2015: Health Advances USA; Acting COO and later as President and
Director. Transformed an underperforming and insolvent company to a profitable one
with over 25% in net profit margin and got it sold for over $3MM.
 02/2010 to 03/2011: TSYS; Integration of Infonox acquisition and strategic guidance in
expanding into merchant acquiring business
 10/ 2007 to 02/ 2009: 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 integration. Formed merchant acquiring ISO.

2.  03/2007 to 09/2007 Worked for Accenture in Financial Services group as Senior
Manager, strategy.
Tier Technologies, Reston, VA
– Vice President, Tier Technologies 01/06 - 09/06
President, Tier Bank
Head of payment cards for Tier Technologies, Inc. Accomplishments include:
 Developed the Infrastructure to issue prepaid cards, including partnerships with VISA,
NYCE, Metavante, FirstBank of Tennessee and Interlink
 Digitized state entitlement programs including child support, unemployment, and
pension payments
 Developed a biometrics program with BAC for state subsidized day care programs called
TierCare
 Formed the structure for a debit card industrial loan bank. 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 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
Head of Global Product Management for prepaid in treasury management services, charged
with expanding cash digitization products worldwide and developing new acquisition channels
as needed. Accomplishments include:
 Obtained new global product approval to expand prepaid debit cards overseas to issue €
denominated debit cards in EU. Developed the legal structure in UK and obtained
licensing rights to passport debit and commercial cards throughout all 27 EU countries.
Basically positioned JPMChase to be in the wholesale commercial and debit card
business in EU. Specific activities included forming an alliance with WildCard Systems
and eFunds Corporation to develop a global debit service offering

3.  Developed a disaster relief MasterCard prepaid debit 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 Navy/Marines – over 100,000 cards issued.
Digitized 57 battleships with no cash on board
 Structured JPMChase as a Healthcare Savings Account Service provider
VISA USA, San Francisco
– Senior Vice President 1983 – 2003
Formed a highly motivated team of 12 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. Key accomplishments include:
 Expanding card acceptance to the recurring payments industry with focus on
insurance, property management, ISP, cable and telecommunications segments
 Business to Business: Established new markets for the VISA B2B program. Focus
on supplier enrollment enabling online bill payment and enhanced data. Making
it easier for the buyer to buy and the seller to sell in a fully automated fashion
 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.
Totaling $10 billion in new incremental sales
 Expanded Visa Card acceptance to the 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
 Management positions in Systems Development and Technical Support.
Developed the Travelers Check Refund Referral System
 Developed the Visa Data Capture terminal providing middle market and small
businesses a cost effective payment solution to process credit card transactions

4. NCR Corp, San Francisco
– Account Manager/Systems Programmer 1976 – 1983
Managed the Bank of America account. Focus on the Bank’s Electronic Services and the
Advisory Services that provided global solutions to their affiliates overseas. Exceeded sales
objectives every year, programmed NCR Point of Sale Terminals and Processors.
EDUCATION:
 M.S. – Computer Science, San Jose State University
 B.S. – Mathematics, San Jose State University
 Honorary teaching credential, Computer Science, State of California
PROFESSIONAL/PERSONALACHIEVEMENTS:
 Board Member at Large San Diego Cyclo-Vets (1/2014 to present)
 Board of director Health Advances USA (2/2014-2/2015)
 Board of director Global Swift Funding (3/07 to 3/09)
 Advisory Board Member US Treasury and US Navy Board of Directors (2003-2004)
 Business advisor; Republican Governor’s Association (1999 – 2003)
 Advisory Board Member National Grocer’s Assoc. (1991 – 1995)
 Developed the textbook and lectured at College of San Mateo for 10 years.
 Member: National Duathlon World Championship 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:
 Webinar Building an effective AML Program 5/2015
 Webinar on the Landscape of Payments 4/2015
 GLG Teleconference: Square’s Partnership with Starbucks 08/12
 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
PRESS INTERVIEWS:

5.  “For Bill Payments, Credit Card Firms Hope to Provide Alternative to Checks,” Card
News, August 20, 2003.
 “A Lift for Recurring Payments?” by Fredrick H. Lowe, Credit Card Management, August
2003.
 “Credit Card Processing Woes & Solutions for Online Subscription Sellers,” by Paul
Nastu, ContentBiz.com, March 12, 2003.
 “Visa Now Accepted For Federal Income Tax Payments,” Visa USA, March 19, 2002.
 “IRS: Visa Now Accepted,” Today’s News, March 21, 2002.
 “Despite Convenience, Charging your taxes Carries a Price,” by Sandra Block USA Today,
March 26, 2002.
 “Stirrings in the Nonprofit Sector,” by Nick Deane, Credit Card Management, April 2002
 “Charge it: Using Plastic to Pay the Rent,” By Ron Lieber, Wall Street Journal, April 18,
2002
LANGUAGES: Fluent in English and Armenian. Conversational in Arabic, Turkish and French