Atlanta, Georgia Chexar Networks, Inc. (“CHEXAR®”), announced today that Rusty Pickering has joined the company as its General Counsel, Chief Compliance & Corporate Development Officer. Mr. Pickering graduated from Tulane University with a BS in Biomedical Engineering and holds a JD from the University of Texas School of Law. He is a senior partner in the Atlanta office of Nelson Mullins Riley and Scarborough where he has practiced for over 18 years, and served for 2 years as the General Counsel of a Nasdaq listed financial technology company. He has significant experience in corporate governance, public and private securities law, M&A, private equity, intellectual property and operations, and helped to establish and lead the firm’s venture capital practice in Atlanta.
Drew W. Edwards, Chexar founder and CEO commented, “I have worked with Rusty for more than 15 years and while he has a great legal mind, my favorite trait comes from his operational experience as the General Counsel for a public financial services company. Rusty’s practical operational experience allows him to understand the balance between risk and business. I am personally flattered that Rusty would leave his extremely successful law practice to join our endeavor and I think this speaks to the opportunity we have at Chexar.”
Mr. Pickering will assume responsibility for Chexar’s legal, compliance and corporate development efforts including contractual negotiations, corporate governance, employment practices, patent development and prudence, regulatory compliance, acquisitions and joint ventures.
Mr. Pickering commented, “Many corporate lawyers aspire to cross over and help to build a company. Very few ever find an opportunity compelling enough to leave their practices. I am truly fortunate to have represented Chexar and now to have this opportunity to join them. Their solutions uniquely fill a void in the market, and I believe they are on the verge of making a huge impact in the mobile payments marketplace.”
Drew W. Edwards, founder and CEO of Chexar, added, “the bigger the prepaid industry gets, the more important it is for them to effectively convert the massive amount of checks in this country into Good Funds, and this consumer will not wait seven days for that to happen. If you can’t meet this need consistently on all check types for this consumer, they will continue to go where they can count on it happening. We have been making this possible in brick and mortar for more than 10 years and now for more than two years in self-service channels. I couldn’t be more pleased to be partnering with H&R Block and its first class team of professionals.”
CHEXAR® is the national leader for technology and solutions that enable clients to cash, deposit or load any check with immediate funds availability. Chexar’s solutions provide clients with the ability to truly serve the nation’s under-banked population now estimated to be almost 100 million people. The gating factor for these consumers is their need to change all types of checks into cash or value before they can acquire other services including bill pay, money transfers, or prepaid cards.
Chexar’s solutions enable any business to convert ANY type and ANY size of check to cash or to immediate credit onto Prepaid Cards or as fee-based deposits into bank accounts. The company’s one-of- a-kind solutions combine multiple national databases, rules engines, and proprietary technology with redundant 24/7 risk management centers to achieve the industry’s highest automated and overall approval rates on any check. Chexar’s solutions are deployed across multiple platforms including turnkey point of sale solutions, assisted and self-service kiosk solutions, mobile devices, and full XML integrations. For more information, please visitwww.chexar.com.