Scott Thompson Joins PerkStreet Financial Board of Directors

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PayPal President To Help Accelerate Industry Transformation

BOSTON, Nov. 16, 2011 -- PerkStreet Financial (, the fast growing consumer financial services company liberating Americans from an increasingly broken banking system, today announced that Scott Thompson has joined its Board of Directors. Thompson, President of PayPal since 2008, is one of the preeminent leaders of innovation in financial services. Thompson will be taking an active role in the continued development and execution of PerkStreet's strategy to use the power of next-generation banking to save Americans money.

"PerkStreet is fundamentally reinventing how people engage with their money through its digital bank accounts, innovative use of technology and customer-driven online community," said Scott Thompson, PayPal's President. "PerkStreet is helping Americans live better financial lives and I'm thrilled to be part of the team making it happen."

"At PerkStreet, we are giving Americans millions in cash back every year for smart financial decisions like spending on a debit card and saving money. This is highly disruptive to a banking system that has encouraged excessive spending and debt," said Dan O'Malley, co-founder and CEO of PerkStreet Financial. "As the head of PayPal, Scott leads the largest disruptive financial services business in the world. His experience will be invaluable as PerkStreet continues its rapid growth."

Thompson has more than 25 years of experience in the payments and financial services industries, most recently as the President of PayPal, the leading global online payment service. Before being named president, he held the role of senior vice president and chief technology officer, where he oversaw the company's extensive infrastructure as well as all product development. Earlier, Thompson served as executive vice president of technology solutions at Inovant, a subsidiary of Visa, where he ran VisaNet, the core platform powering Visa transactions worldwide.

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