STRATEGIC PARTNERS
April 23, 2003
DALLAS, Texas -- Steve Shaper, a founder and former chief executive of Telecheck, has joined CashWorks Inc.'s board of directors.
According to a news release, Shaper helped grow Telecheck into the leading check acceptance company in the world during his 25 years with the company. Shaper currently serves as a general partner with Convergent Investors, a Texas venture capital firm.
"(Shaper's) extraordinary knowledge in our industry will be instrumental in helping CashWorks deliver on its considerable potential," said Ken Rees, CashWorks' president and chief executive, in the release.
"CashWorks has an exciting and unique business model and a strong management team," Shaper said.
According to the release, CashWorks has deployed its patent-pending PayPort technology, which uses a proprietary point-of-sale terminal and an ATM to cash payroll checks, in nearly 400 retail locations across the United States. The company expects to have more than a thousand locations by year-end.
