HOUSTON - The Internet-only Compubank said Monday that it has appointed veteran card executive Scott Loftesness to its board.

Mr. Loftesness, now a private investor and consultant based in Menlo Park, Calif., was interim chief executive officer of Digicash Inc. in 1998-99. The company filed for bankruptcy in November 1998 after pioneering the concept of Internet-based payments.

Earlier he was a group executive at First Data Merchant Services and spent nine years at Visa International, rising to group executive vice president. His early career included 17 years at International Business Machines Corp. in a variety of technical positions.

Compubank has attracted investments from Softbank Finance, GE Financial Assurance, Goldman Sachs Group, and Marsh & McLennan Capital.

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