Creditron Hires Industry Veterans to Drive Sales Efforts

TORONTO, ON, November 5, 2007 – Creditron, Inc., a leading provider of payment processing software and solutions, today announced that Bob Pangrac and Craig Smith, 20-year veterans of the payments industry, have joined the company in senior sales positions.

Pangrac has joined Creditron in the newly created position of national account manager for bank lockbox providers.  In his role, Pangrac will be responsible for account management and new sales responsibilities for financial institutions throughout the United States.

Pangrac joins Creditron from VSoft Corp. in Duluth, GA, where he served as a national account executive.  Before that, he held senior sales positions at NCR, BancTec, and Mitek Systems – principally working with banks.  Pangrac is a graduate of Valparaiso University and earned a Master’s of Business Administration from Baldwin Wallace University.

Smith has joined Creditron as a regional sales manager.  Based in the Minneapolis area, Smith will be responsible for account management and new sales responsibilities for the Midwestern United States and Western Canada.  Smith joins Creditron from WAUSAU Financial Systems, Inc., in Mosinee, WI, where he was a sales executive.  During his tenure at WAUSAU, Smith led a sales team that achieved annual sales of more than $7 million three consecutive years. Smith began his sales career at NCR.  He is a graduate of the University of Wisconsin at Madison.

“Bob and Craig are exceptional sales and business development executives with a wealth of experience in the check and payments industries,” said Creditron President Wally Vogel.  “Their track records of developing and executing successful sales programs will provide key leadership as we continue to drive Creditron’s visibility and profile in our target markets.”

About Creditron

Creditron, Inc., a Purepay portfolio company, is a leading provider of payment processing software and services.  Its solutions combine industry standard operating systems and advanced imaging, scanning and data recognition technology to help low and mid-volume remittance processors optimize operations performance and improve customer service.  The company’s 200 North American customers process more than 200 million transactions annually, representing over $50 billion. 

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