Payment Approved Acquires PayPal and Visa Veteran Bump Verde as Chief Technology Officer

Payment Approved Technologies, LLC, a financial technology platform that is spearheading a global digital commerce network, announced today the addition of a key team member to their staff — Chief Technology Officer, Bump Verde.

Verde brings over 30 years of experience in technology development and security to the firm, as well as deep expertise in tech management and leadership. Prior to joining Payment Approved, he spent 13+ years at PayPal, holding positions as the Director of Middleware Frameworks, Director of Presentation-Tier Architecture, Lead Java Architect, and the Lead Architect for PayPal-As-A-Service.

Verde was also a member of the 70-person team at Globeset that worked on the Verified By Visa (VBV) program, a card program built around conducting next-gen security for internet payments at Visa. The team was ultimately acquired by the client firm, and Verde spent three years at Visa before moving into consulting and, ultimately, PayPal.

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Verde’s expertise spans operations at significant scale, including security, availability, observability, and efficiency of highly distributed systems. He specializes in scaling systems as they expand, a skill highly desired at Payment Approved, whose 2021 strategy for growth in Latin America is expected to increase transaction volume by over 400%. Verde immediately stood out to CEO Jason Montoya as the right person for the challenge.

“We knew we would need a technology lead that had experience with a system that transacted funds at a high volume, and upheld a powerful security standard,” Montoya shared. “Bump was right in the center of PayPal’s development, scalability, and security efforts for over a decade, making him the natural choice for the role.”

Verde joined the Payment Approved team and immediately dove into the advancement of Payment Approved’s Cross-Border Information Exchange technology. This foundational engine facilitates fund transfers across borders, connecting both sending and receiving partners in an effort to drive a global, trusted network for money movement. Verde immediately implemented security and scalability standards that strengthened the durability and reliability of the technology, helping the firm to keep a 99.997% uptime across their suite of products.

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When asked to comment on his transition and the year he’s spent at Payment Approved, Verde expressed his enthusiasm. “I started my career in startups, and it’s exciting to come back to one as a senior executive. I spent most of my time in the last year leading enhancements of our Cross-Border Information Exchange (CBIX) technology, a one-stop global payments aggregator. Our team has dedicated a lot of energy to growing the service offerings available on the platform, and 2021 has brought the reward of onboarding multiple clients to CBIX. While I expect the next few months will be filled with bug fixes and tweaks, I’m looking forward to growing our capabilities through the technology even more.”

“Payment Approved is a special place,” Verde added. “We have a great team and a powerful vision. I can’t think of a better opportunity than to help build a company in the heart of Silicon Hills. I am incredibly excited about what this year will bring, as we enter new markets and continue to drive innovation.”

Montoya agreed. “2021 is shaping up to be an explosive year for us. With Bump at the helm of our technology efforts, I have no doubt that we will be successful in building a trusted network that emphasizes safety, security, cost-effectiveness, and accessibility.”

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