News from the Wire

Lazlo 326 Adds Mike Passilla to Advisory Board

Wednesday, June 26, 2019 — 14:25:47 (EDT)

ATLANTA – JUNE 26, 2019 – Lazlo 326, the company that is transforming the way we buy, share and redeem digital stored value, has added former JPMorgan Chase Vice Chairman and Elavon CEO Mike Passilla to its Advisory Board.

Passilla recently retired from JPMorgan Chase & Co., where he served as CEO of Chase Merchant Services from 2013 to 2016. Prior to that, he was CEO of Elavon, U.S. Bank’s acquiring division. In doing so, Passilla has respectively run two of the largest payment processing companies in the world. The addition of Passilla as a Lazlo advisor adds an experienced operator with a 30-year track record of building successful payment and commerce businesses.

“Mike is an accomplished and respected industry leader with a track record of delivering new technologies to the market,” said Chris Demetree, CEO and co-founder of Lazlo. “Adding him as an advisor is an important complement to and validation of our technology and our strategy. We’re thrilled to have him join the team.”

“Lazlo’s platform shatters the stale, stagnant model for stored value. In doing so, they have opened up new areas of opportunity for retailers of all sizes by removing friction in the purchase path and creating a solution that embodies how consumers want to shop, share and communicate,” said Passilla. “It has the potential to unlock new revenue opportunities for retailers and brands while transforming commerce. It’s a company and technology that I’m very excited about.”

Lazlo eliminates the needs for online registration when buying, sharing or redeeming digital gift cards, lottery and event tickets, coupons and other stored value items. The company’s recently-patented Crypto Imaging™ technologyenables these items to be embedded in digital media, like videos and memes, and shared with friends or family via a message or text.

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Source: Company press release.