BRADENTON, Fla., Jan. 29, 2007 (PRIME NEWSWIRE) -- nFinanSe Inc. (OTCBB:NFSE), today announced that Mr. Clifford Wildes, Chairman of the Board and Founder of the Company, has resigned his duties effective immediately, and that Jerry R. Welch, nFinanSe's Chief Executive Officer, has been elected Chairman of the Board.
Mr. Wildes is leaving to pursue development of Kesselring Corporation, a building and restoration company with offices in Florida and Washington, as Chief Operating Officer and Director.
Mr. Welch said, "Cliff founded nFinanSe six years ago and has worked tirelessly to build and develop the Company. He took the Company public through a reverse merger, founded and created the nFinanSe Network which now consists of 80,000 locations where consumers can add money onto prepaid cards, and forged important strategic relationships with major card associations. We appreciate Cliff's contributions to our Company and wish him the very best."
"I am excited about the progress nFinanSe has made and the bright future ahead for the Company," concluded Mr. Wildes.
About nFinanSe Inc.
nFinanSe Inc. is an innovative financial services company and provider of stored value and prepaid card solutions headquartered in Bradenton, Florida. nFinanSe has developed the nFinanSe Network, a secure, reliable, point of sale (POS) and PC based software platform that connects retail merchants with multiple stored value prepaid card processors and issuing banks. nFinanSe owns and operates the nFinanSe Network as a standardized, national network of stored value and prepaid card cash load stations located throughout the United States.