Succeeds David Yates, Who Moves Into Advisory Role
PURCHASE, N.Y.--(BUSINESS WIRE)--
Mastercard today announced the appointment of Paul Stoddart as
president, New Payment Platforms, effective March 1, 2019. Stoddart
succeeds David Yates, who will transition into a senior advisory role
focused on real-time national and cross-border payments strategies.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190205005692/en/
(Photo: Business Wire)
In this role, Stoddart will oversee the development and strategic
integration of Mastercard’s real-time payments capabilities beyond
traditional card-based solutions. Among these solutions are our Vocalink
account-based payments, the Homesend joint venture and Mastercard Send.
“Paul’s industry experience and deep immersion in the business makes him
the ideal choice to drive the growth of our account- based payment
activities,” said Michael Miebach, chief product officer of Mastercard.
“In his role as CEO of Vocalink, he has created momentum across the
business, renewing relationships with key customers and expanding our
infrastructure activities to new markets. We’ll now build on that
foundation to deliver the technology and support needed for an expanded
world of payments.”
In 2017, Stoddart was named chief executive officer of Vocalink
following the company’s acquisition by Mastercard. He originally joined
Vocalink as managing director, responsible for strategy, corporate
development and its UK and international product portfolios.
Prior to Vocalink, Stoddart was responsible for mergers and acquisitions
and asset disposal at Barclaycard. Earlier in his career, he spent 12
years at RBS, where he held senior roles in group corporate development,
retail direct and the company’s WorldPay division.
During his 35-year career, Yates has built payments businesses around
the world. Before joining Vocalink as CEO in 2011, he was president of
Western Union, where he drove the company’s diversification into online
money transfer and business payments.
He also spent six years as president, First Data International, building
all the company’s global activities outside of the U.S., including
merchant acquiring, merchant transaction processing, issuer processing
and ATM network solutions business units.
“David’s knowledge and experience has given us a perspective to help
shape our strategy and capabilities in additional payments choices that
we can offer to customers and consumers,” said Ajay Banga, president and
CEO, Mastercard.
“He has been an integral part of the effort to bring the Mastercard and
Vocalink businesses together. David’s focus on the people and passion
for innovation has set a foundation for us to explore new opportunities
for future growth throughout the world. We wish David all the best in
this next chapter of his career,” said Miebach.
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com,
is a technology company in the global payments industry. Our global
payments processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries and
territories. Mastercard products and solutions make everyday commerce
activities - such as shopping, traveling, running a business and
managing finances - easier, more secure and more efficient for
everyone. Follow us on Twitter @MastercardNews,
join the discussion on the Beyond
the Transaction Blog and subscribe
for the latest news on the Engagement
Bureau.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190205005692/en/
Seth Eisen,
Seth.Eisen@mastercard.com
,
914-249-3153
Source: Mastercard Investor Relations