On December 5, 2012, the board of directors of Calpian, Inc. approved the expansion of the number of members of the company's Board from three to four and approved the appointment of Shashank Joshi to fill the newly created board seat. Mr. Joshi is the Founder and Managing Director of Digital Payments Processing Limited. Board as he brings more than 10 years in the payments business in the U.S. and India.