BARTLETT, Tenn., February 16, 2024 —SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecommunications company focused on the underbanked and underserved communities, announced today the appointment of fintech and prepaid industry veteran Derron Winfrey as vice president, business development of the Company.
Mr. Winfrey is a successful serial entrepreneur, having launched several check processing, prepaid software, ATM, and other companies in a fintech career that spans nearly 25 years. He joined SurgePays in 2019 as part of SurgePays' purchase of ECS Prepaid, which he founded and served as chief operating officer. Upon joining SurgePays, he became president of SurgePays' prepaid division and has been serving in various business development and advisory roles.
In his new position, Mr. Winfrey will work with SurgePays President Jeremy Gies to help drive innovation by discovering, developing, and implementing new fintech products and services. He will also leverage his expertise in the prepaid and fintech space to foster strategic partnerships and actively seek out and evaluate potential acquisition targets.
"Derron helped build the foundation of SurgePays' prepaid business," said Jeremy Gies, president of SurgePays. "He has spent countless hours building relationships with the independent sales organization (ISO) channel, leading to our current footprint of more than 8,000 stores nationwide. He is an innovative and visionary fintech professional.
“Derron will be integral in continuing to grow our strategic partnerships with ISOs and distributors, developing a pipeline of thousands of convenience stores that should directly impact our subscriber and revenue growth."
Previously, Mr. Winfrey spent 18 years as president of Electronic Check Services (ECS), a company offering merchants and ISO channel partners a full suite of check processing services. During his tenure, he founded and served as president of ECS Prepaid, a business providing prepaid cellular phone reloads, bill payments, gift cards, and loyalty programs. To power the processing of ECS Prepaid, Mr. Winfrey created the concept and helped launch Softgate Systems, a fintech product processing company, in 2007, where he served as president until 2009. During that time, Softgate grew in volume by nearly 110% by providing processing services for 12 other companies in addition to both ECS and ECS Prepaid. Softgate Systems was acquired in 2009 by In Person Payments (IPP).
In 2011, under Mr. Winfrey's leadership, ECS Prepaid earned several honors, including ranking 69 in Inc. Magazine's List of Fastest Growing Companies in North America and being named the Fastest Growing Company in Southwest Missouri by the Springfield Business Journal.
"Most of my professional career has been in the fintech industry; it's a market that challenges me to continue innovating," said Mr. Winfrey. "I believe SurgePays is proving to be the right company at the right time with its hardworking employees and their focus on providing exceptional products and services for the underbanked and underserved communities. I'm excited to continue to help push the gas pedal and help SurgePays increase its revenue."
Born in Oklahoma City, Okla., Mr. Winfrey earned his bachelor's degree in communications at Wichita State University. He is a member of Springfield Business Journal's 40 Under 40 Class of 2009 and has been honored in the publication's list of 12 People You Should Know and Top 12 Businesspeople in Southwest Missouri. Now residing in Springfield, Mo. with his wife, Paula, Mr. Winfrey enjoys cheering for the Kansas State University football team alongside his father. He also spends plenty of quality time with his three children and six grandchildren.
For more information on SurgePays, please visit the Company's investor relations website at ir.surgepays.com.
About SurgePays, Inc.
SurgePays, Inc. is a technology and telecom company focused on the underbanked and underserved communities. SurgePays technology layered platform empowers clerks at over 8,000 convenience stores to provide a suite of prepaid wireless and financial products to underbanked customers. SurgePays prepaid wireless companies provide services to over 250,000 low-income subscribers nationwide. The company ranks as the 345th fastest growing company in North America according to the 2023 Deloitte Technology Fast 500. Please visit SurgePays.com for more information.
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