Robert Misasi President & CEO rmisasi@mercatoradvisorygroup.com 781-419-1702 Robert Misasi is the founder and President of Mercator Advisory Group. He has advised many of the world’s top financial institutions on business and technology issues and has managed strategic market research and consulting assignments for members around the globe. He and Mercator Advisory Group are frequent contributors to leading industry publications including: American Banker, The Wall St. Journal, Digital Transactions, Bank Technology News, Card Forum International, Card Technology, Smart Card News, CardLine, Cards & Payments, The Green Sheet, and ATM & Debit News. Robert has spent the past 15 years serving the financial services industry. His background includes multiple years with TowerGroup (currently owned by MasterCard International), Meridian Research and with Deloitte & Touche, LLP. Robert is committed to the belief that Focus and Service are the two attributes that drive successful membership-based research firms. Mercator Advisory Group is a prime example, providing for a more efficient research spend by having a team dedicated solely to payments industry related issues. There is an enhanced knowledge base, more experienced staffing on-hand for inquiries and the comfort in knowing that all resources are directed to furthering the payments industry charter. Robert is also a private investor in market research and financial services oriented advisory/consulting firms. Robert graduated with concentrations in Accounting and Entrepreneurial Management from the Wharton School at the University of Pennsylvania.

Dan Murray Advisor to the CEO dmurray@mercatoradvisorygroup.com 781-419-1700 Mr. Murray is an Advisor to the CEO for Mercator Advisory Group and has over thirty seven years of Financial Services Experience including management consulting, M&A, and held senior management positions at several financial global leaders. Specific Experience includes: -          Management Consulting.  Twelve years of consulting and advisory engagements as a member of the leadership team for PSI. and for  Tower Group.  Expertise include:  Payments, Cards, Merchant Services, Retail Banking and Small Business Management. -          General Manager. United States Cards, MasterCard International.  Responsibilities include:  Marketing, Co Branding, Promotions, Product Management and Development, Research and Member Services. -          Managing Director MHT.  Responsible for the Card and Merchant Businesses. -          Held executive positions at Citigroup covering the Retail and Commercial Banking Groups, Cards, Payments, Marketing and Business Development. -          Held senior marketing positions for American Express in the Consumer and Business Card Groups. Mr. Murray has an MBA from Fordham University and a BBA from St. John’s University.

Ken Paterson Director, Credit Advisory Service kpaterson@mercatoradvisorygroup.com 781-419-1715 Ken Paterson has over 25 years’ experience in financial services market research, strategic planning and consulting, including payment services experience with Visa International, Visa USA, Fair, Isaac and Company, and Bank of Boston. His payments-related experience encompasses market modeling, competitive analysis, product development, product positioning, and assessment of international payment system opportunities. In the credit card arena, his work has included research on consumer interest in proposed card enhancements, customer cross-sell/ direct mail strategies, and the value of reward and co-branded card programs. In addition, Ken has deep experience in the design and execution of primary research studies, especially as Practice Leader for Research with consulting and research firm Spectrem Group, as VP for Research with marketing services firm HNW, Inc., and as Market Research Manager at Bank of Boston. His primary research experience includes the design and management of large scale sample survey and qualitative research projects for some of the nation’s largest asset management firms. He has participated in a range of conference speaking engagements and press briefings regarding his various research efforts. Ken holds a BA from Bates College, and an MSW in applied research from Boston College. He has held adjunct faculty positions at Boston College, Boston University, and the American Institute of Banking.

Tim Sloane Group Director, Prepaid & Debit Advisory Services tsloane@mercatoradvisorygroup.com 781-419-1712 Tim Sloane is the Director of Mercator Advisory Group’s Debit and Prepaid Advisory Service. In this role he advises members throughout the year on business strategy and prepaid, debit, ACH, and EFT related initiatives. He is frequently quoted in leading industry publications including: American Banker, ATM & Debit News, Bank Technology News, Cards and Payments, Digital Transactions, The Green Sheet, CardLine, Federal Reserve Board Research Papers, Intelecard News, Payment News, The Prepaid Press, Transaction Trends, Transaction World, Windows in Financial Services, Business Week, InfoWorld, CNN, CNET, and CIO. Tim has been a speaker at industry events that include ATM & Debit Forum, Card Forum, CTST, EFTA, ETA, NACHA, Prepaid Card Expo, and has spoken at private events hosted by a wide range of industry participants including the ABA, American Express, eFunds, First Data Corporation, and MasterCard. Tim’s project and consulting experiences have included: Optimizing the prepaid rollout strategy for a major international processor Providing expert witness testimony on a major mall-based prepaid card program Developing and conducting win/loss sales evaluation processes for competitive reviews. Developing strategic market assessments and business case analysis for a variety of processors and issuers concerning new markets and capabilities required. Tim has spent the past 28 years in the IT industry in senior strategy, marketing, and management positions. He has deep expertise in strategic planning, benchmarking, IT assessments, as well as the positioning and marketing of new products and services. Over the past four years he has built a practice housing the leading Prepaid and Debit analyst coverage available related to these markets. His background includes 10 years at Wang Laboratories, work at startups Tilion and Insynch Software, and over six years with the Aberdeen Group, a Boston-based research and advisory services firm. At Aberdeen, Tim served initially as the Managing Director for their Internet Infrastructure practice before being named Director for their CIOAccess practice.

George Peabody Director, Emerging Technologies Advisory Service gpeabody@mercatoradvisorygroup.com 781-419-1716 George Peabody is the Director of Mercator Advisory Group’s Emerging Technology Advisory Service, where he provides strategic and tactical consulting to Mercator’s members and clients as well as project management for bespoke consulting engagements. Over his nearly 25 year career in the IT industry, George has held senior leadership positions in software development, marketing, project management, market research and operations. He has also managed government relations activities and served on the board of directors of multiple private businesses and major non-profits. His background includes five years of product management with Wang Laboratories, founder roles at startups RapidNet and DigiFlite, as well as extensive market research and consulting experience with other startups including CoThrive and early stage payment industry firms. He has built payment-enabled websites for on-demand training. At Boston’s Aberdeen Group, he was Vice President of its telecommunications practice, where he led a team of 20 consultants and analysts providing research and market positioning services to Global 2000 firms and startups.

Terry X. Xie Director, International Advisory Service txie@mercatoradvisorygroup.com 781-419-1704 Terry Xie is the Director of Mercator Advisory Group’s International Advisory Service, where he provides industry coverage and consulting service on international payments markets to Mercator’s members and clients worldwide. Terry has extensive experiences in strategy consulting, investment consulting, and market research in financial services, telecom, IT, and Internet industries. Terry has in-depth knowledge about the Asia-Pacific and the European markets. Before joining Mercator Advisory Group, Terry was with Market Platform Dynamics, a strategic consulting firm focused on payments industry, where he led the overall efforts of industry and vertical research. Previously, Terry also worked as a technology market strategy analyst at IBM’s T.J. Watson Research Center, and held different consulting and industrial positions with leading firms in the U.S. and Asia. Terry holds a Bachelor of Architecture from Tsinghua University (Beijing, China) and an M.S. degree in information technology and business strategy from MIT. While at MIT, Terry worked as a research assistant at the MIT Sloan School of Management and the System Design and Management program (SDM). He also spent two years studying VR Environment and HCI at Pennsylvania State University.

Elizabeth Rowe Group Director, Banking Services erowe@mercatoradvisorygroup.com 781-419-1703 Elizabeth Rowe is the Group Director of Mercator's Banking Advisory Services practice. She comes to Mercator after 11 years at Guideline (formerly FIND/SVP) with extensive research and consulting experience working with large retail and corporate banks and their vendors as the leader of Guideline's Financial Services Group. At Guideline, she also introduced and directed the company's Private Capital Research Center providing deal flow acceleration in the due diligence process for private equity clients. Her background also includes a senior position at a boutique investment firm and owning two small services businesses in Manhattan. Most recently, in 2007, Elizabeth authored two significant syndicated reports for MarketResearch.com. The first, "Non-traditional Financial Services to the Unbanked, Underbanked and WhyBank? in the U.S." focused on new product introductions and strategic opportunities/challenges financial services firms face competing for share of wallet in those retail markets. The second, the "2007 Corporate Credit Cards in the U.S." report assessed the emerging partnerships, capabilities and customer demands shaping the commercial, purchasing, procurement, payroll and small business card competitive landscape. Elizabeth has taught at the ABA School of Bank Card Management and frequently presents at both banking and private equity conferences. She has been widely quoted in the financial press including The Economist, The Wall Street Journal, American Banker, Forbes, the Daily Deal, CNN/fn, and Money Management Executive. She has an A.B. from Harvard University and completed her graduate work at the University of North Carolina at Chapel Hill.

Sarsha Adrian Senior Analyst sadrian@mercatoradvisorygroup.com 781-419-1719 Sarsha Adrian is a Senior Analyst with Mercator Advisory Group's Corporate Banking practice. She comes to Mercator after 30+ years in high-tech software development and management experience with companies such as IBM, Stratus, and Digital Equipment Corporation. Sarsha also has significant experience in creating trust and continuity in alliance partnerships for companies like EDS, Fidelity Investments, and Bell operating companies. In 1999, Sarsha joined PrimeStreet, a Royal Bank venture, as a Banking Director. In this role she developed the first Internet auction portal for small business lending and worked with leading lenders on their business strategies and back-end integration. Most recently, Sarsha was President and Founder of Right Path Payments, Inc. an innovative Web-based B2B payment solution. Sarsha is a graduate of Boston University.

David Fish Senior Analyst dfish@mercatoradvisorygroup.com 781-419-1718 David Fish has spent the past five years in the ISO/Acquiring and processing communities with positions at North American Bancard, Inc. and Global Payments, Inc. His background includes significant work in fraud and risk, loss recovery, company-specific and industry-wide regulations and operating procedures and analysis. David has both an M.A. and a B.A. in English from SUNY, College at New Paltz.

Brent Watters Senior Analyst, Prepaid Advisory Service bwatters@mercatoradvisorygroup.com 781-319-1709 Brent Watters is a Senior Analyst in the Prepaid Advisory Service.  He most recently was a Senior Editor at Prepaid Media, Inc. responsible for developing market analysis, case studies, and industry and competitive analysis.  In addition he managed a team of authors writing high level strategic content focused on the prepaid payments industry. Brent joined Prepaid Media after spending years with SourceMedia, as Senior Editor, launching and managing production for Prepaid Trends.  This followed editorial positions at ATM&Debit News and ISO&Agent.  Brent brings a significant industry analysis background, coupled with investigative research skills and an already developed network of contacts throughout the prepaid industry.  He has been active in the space since its early widespread adoption and is actively engaged with leading players in the prepaid industry through his role at Mercator Advisory Group.  He has contributed to numerous strategic assignments concerning the rollout of prepaid cards by leading industry processors and has worked for many of the top 10 banks looking at their strategic initiatives in this space. He has spent the past 12 years in marketing, communication, analysis and content development roles in the financial services industry.  Brent has a B.A. in Journalism and Minor in Marketing from Western Illinois University.

Elisa Athonvarangkul Analyst elisa@mercatoradvisorygroup.com 781-419-1720 Elisa Athonvarangkul is a Research Analyst. Prior to joining Mercator, Elisa worked in analysis and research at the U.S. Department of the Treasury’s International Affairs division, the Thailand Board of Investments in Bangkok, and the United Nations Intellectual History Project. She also has teaching experience under the Fulbright program in France. She is fluent in Thai and French, and proficient in Chinese (Mandarin) and Spanish. Elisa holds an MA from the Paul H. Nitze School of Advanced International Studies (SAIS) at Johns Hopkins University, with concentrations in International Economics and Asian Studies. She received her BA in Political Science and Foreign Language Studies from Adelphi University.

Paul Sant Senior Account Manager psant@mercatoradvisorygroup.com 781-419-1708 Paul Sant is responsible for Mercator Advisory Group’s Central US and Pacific NorthWest accounts, Central and South America, as well as those based in the United Kingdom and the Netherlands. Paul has spent more than 17 years in marketing, sales, and sales management. His background includes work with Moore North America as Major Account Representative, Service Point USA as a Senior Account Executive, and Livermore Research as Director of Sales and Marketing. His experiences managing key accounts have included work with New York Life, Liberty Mutual, IDC, General Dynamics. While with Livermore Research, a payments industry primary research firm, he worked with Citigroup, MasterCard, Household Financial, American Express, and JP Morgan Chase/Bank One. He was also a key member in the development of Livermore’s “Credit Cards Online” conference. Paul holds a BS from Ithaca College.

Christine Burgess Senior Account Manager cburgess@mercatoradvisorygroup.com 781-419-1705 Chris Burgess is responsible for Mercator Advisory Group’s Southeast US, Latin America, and selected European countries.  Chris’s background includes seven years with Forrester Research serving as a Business Development Manager and as an Account Manager. She was a consistently ranked high performer for Forrester and served F2000 companies. Chris holds a BS in Business Communication from Bentley College.

Christine Woltag Senior Account Manager cwoltag@mercatoradvisorygroup.com 781-419-1707 Christine Woltag is responsible for Mercator Advisory Group’s North East Region and selected European accounts. Christine’s background includes 13 years in sales and leadership experience. Her most recent positions have been with Darwin Partners, a leading technology services organization, and Financial Insights (an IDC Company). Prior to this, Christine spent nine years with Forrester Research, having joined Forrester when it was privately held with only 33 employees. Christine served Forrester as an award-winning account manager with consistently exceptional performance. Christine holds a BA in English from Boston College.

Jesse Cooper Senior Account Manager jcooper@mercatoradvisorygroup.com 781-419-1706 Jesse Cooper is responsible for Mercator Advisory Group’s West Coast, North West and Asia-Pacific (APAC) clients.  with over 10 years experience in sales, Jesse was most recently an award winning Account Executive at Forrester Research responsible for new business sales across North America. Prior to Forrester, his background includes work with Thomson Corporation, Novell, and Parametric Technology. Jesse holds a BA in communications from the University of New Hampshire.

Linda Redden Marketing Administrator / Executive Assistant lredden@mercatoradvisorygroup.com 781-419-1700 Linda Redden has over twenty years’ experience in the high tech and financial services industries, including significant work with HP/Compaq corporation (and previously with Digital Equipment Corporation). She has worked in direct sales, sales support, marketing, and has served as an executive secretary supporting senior management in corporate planning, finance and operations. Linda has most recently worked for the American Cancer Society in administrative support for the New England area and has a keen interest in golf. Linda is a graduate of Northeastern University with a degree in Business Management.

Ronald Misasi CFO ron.misasi@mercatoradvisorygroup.com 781-419-1700 Ronald Misasi has over twenty-five years of experience in the information services industry. While with Grumman Corp., he served as chief financial officer of its publicly held subsidiary NAC&C as well as treasurer of its wholly owned subsidiary SDPS, Inc. He has also served as chief financial officer of the following companies: International Computer Services, Inc., a wholly owned subsidiary of Raytheon Corp.; Access Data Services, Inc.; and Decision Products Services, Inc. Ron is a graduate of Boston College and holds a BS degree in Accounting.