Ed Labry Joins Dama Financial as Executive Chairman
SOUTH SAN FRANCISCO, Calif., Nov. 10, 2021 /PRNewswire/ -- Dama Financial ("Dama"), the nation's largest provider of access to banking and payment solutions for the cannabis industry, has named industry veteran Ed Labry as executive chairman of the board.
Labry spent more than three decades in leadership roles in the payments industry, most recently as CEO and vice chairman of First Data Corporation. Before that he was president of processing company Concord EFS Inc, which First Data acquired in 2004. At Concord, he pioneered the acceptance of credit, debit and electronic benefit transactions in supermarkets, the introduction of pay-at-the-pump technology at gasoline stations, and the use of electronic payments in quick-service restaurants. Labry and Concord also consolidated debit networks under the STAR brand, creating the largest PIN based debit and ATM network in the industry.
"Ed is a true visionary and is revered throughout the industry, so we are overjoyed to have him lead our board," said Anh Hatzopoulos, Dama co-founder and chief executive officer. "Throughout his career he has identified opportunities in payments while creating value for business customers and convenience to end users."
"The cannabis industry is the next emerging market segment for financial payments and Dama is well positioned in leading the industry. It's great to find another exciting challenge!" Labry said.
In 2007, Labry was awarded the first-ever Distinguished Payments Professional of the Year Award by the Electronic Transactions Association. He was also recognized as Payments Executive of the Year by Cards & Payments magazine. He was inducted into the Electronic Transactions Hall of Fame in 2018.
About Dama
Based in South San Francisco, Calif, Dama is the cannabis industry's leading provider of access to banking and financial services, powering safe and secure depository solutions for top licensed cannabis operators throughout the United States as well as electronic consumer payment solutions. The company was founded in 2017 by a team of world-class fintech and payments executives to provide high-risk industries with critical access to fundamental financial solutions. Dama has leveraged its experience in other unbanked categories to develop solutions, driven by its proprietary technology platform, capable of navigating a complex web of regulatory and compliance requirements. The company's expansive product set, including Premier Business Banking, Paytender and CashToTax, fueled 350% top-line growth in 2020.
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SOURCE Dama Financial
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