David Bennett Lipkin, Esquire, 70, beloved Husband, Father, and Grandfather, formerly of Philadelphia, PA, passed away on Wednesday, January 1, 2014 at Tri City Medical Center in Oceanside, CA of congestive heart failure. Graveside funeral services were held on Friday, January 3, 2014 at Eternal Hills Memorial Park in Oceanside, CA.
David was born in Philadelphia, PA on February 10, 1943 to the late Leonard and Helen (nee Schindler) Lipkin and was the older brother of the late Paul Lipkin. The Lipkin family owned the Gold Medal Bakery and Kaplan’s Bakery, both of which supplied delicatessens across the greater Philadelphia area for decades.
David grew up in Philadelphia and attended Central High School (Class 215), The University of Pennsylvania, and Georgetown and Temple Law Schools. He worked in the city of Philadelphia for the majority of his 47 year career as an attorney with national law firms such as Blank Rome and Drinker Biddle and Reath, and for over 20 years as legal counsel at the Philadelphia National Bank (PNB) later known as CoreStates Bank (which was later acquired by First Union and then Wachovia Bank).
Mr. Lipkin was a practitioner in corporate, business, and emerging e-Commerce services. He had extensive experience in the formation of joint ventures, acquisitions, divestitures, and business financing transactions. He had substantial regulatory experience with the Security and Exchange Commission (SEC), Federal Reserve Board, and the Comptroller of the Currency. He obtained the first approvals for Stored Value Cards, Electronic Benefit Transfers, and Electronic Data Interchange services from the Federal Reserve Board.
He was a Founder and former Chief Counsel of the MONEY ACCESS SERVICE®, former operator of the MAC® Network (now known as the STAR® Network) which was started at PNB and as STAR® became the largest debit network switch in the United States.
Mr. Lipkin served as lead counsel in the formation of major electronic funds transfer networks such as Electronic Payment Services, Inc. and major cyber banking initiatives such as Integrion Financial Network L.L.C., a joint venture of fifteen of the largest banks in North America, IBM, and Visa U.S.A. to develop and offer an Internet based Home Banking Network.
During the 1990’s, after the collapse of the Soviet Union, David was a special Consultant to the Central Bank of Russia and the Kyrgyz Republic on e-Commerce initiatives. He lectured to Central Banks and commercial banks in these countries on plastic card systems and use of stored value systems as currency substitutes. He consulted with more than 15 Settlement Banks in Eastern Europe and the Commonwealth of Independent States on e-Commerce topics including using the Internet for settlement and cross border transactions.
In 2003, David and his wife, Irene (Rena), moved to Palm Springs, CA where David started consulting “virtually” with a number of entrepreneurial start-up companies across the country from Alaska to Pennsylvania, serving as part-time house counsel from formation to venture funding and thereafter. He also made time to serve for 6 years as the President of his 254-Home Homeowners Association located in Palm Springs, CA.
In 2009 the Lipkins moved to Oceanside, CA to be closer to their grandsons and have the opportunity to participate more in their daily lives. He is survived by his wife of thirty three years, Irene (nee Grabowich) Pujol Lipkin; his daughter Steffanie (nee Lipkin) Rupp; her husband, Brian Rupp; their children and David’s beloved grandchildren, Brennan and Tyler Rupp, all of Oceanside, CA.; and step-son, Marc Pujol of Drexel Hill, PA.
David had a larger-than-life personality, a great sense of humor, and an optimism that is rare in this life. He was incredibly loyal to his friendships and to his home-town sports teams: the Eagles, the Flyers, the Sixers, but especially the Phillies. David was the ultimate Phillies fan, had season’s tickets for many, many years, and twice attended their baseball “Dream Week Camp” at their spring training headquarters in Florida. He had an amazingly generous soul and will be missed by many life-long friends, co-workers, clients, and family alike who will never forget his enthusiasm for life and who appreciated his participation in theirs.
Donations in his honor may be made to:
The Associated Alumni of Central High School (Philadelphia PA)
Jewish Family and Children’s Service of Greater Philadelphia
2100 Arch Street, 5th Floor
Philadelphia, PA 19103