Brian Thompson, senior vice president at the finance consultant Equity Dynamics Inc., is joining the board of prepaid card provider BillMyParents.
"Mr. Thompson will help us achieve our strategic vision," said Mike McCoy, BillMyParents' chairman and CEO, in a press release Nov. 5. "He has a wealth of audit and risk management experience as well as comprehensive expertise in building small cap companies, all of which make him a perfect addition to the other notable members of our board."
BillMyParents' primary product is a prepaid card for teens. The card comes with a number of parental controls that allow parents to monitor and limit teens' spending.
The company has its roots as an alternative payment provider. Prior to launching its prepaid card, BillMyParents offered an online payment system that allowed merchants to sell to minors by first sending an invoice for an online transaction to parents. If parents approved the purchase, the sale would go through.