Digital Focus Aligns Mastercard Organization and Investments
March 07 2018 - 8:37AM
Business Wire
Garry Lyons to Lead New Venture Providing
Services to Mastercard, Its Customers and Partners
Mastercard today announced the integration of its physical and
digital payments teams under one organization, effective April 2,
2018. This change comes as Garry Lyons departs the company to
launch a new technology initiative closely aligned with
Mastercard.
Lyons will leave on June 1 to launch a new outside venture that
will provide services to Mastercard, its partners and its
customers. He will remain a senior advisor to the company’s
Management Committee.
Since joining Mastercard nearly ten years ago, Lyons served as
an integral catalyst for the company’s expanded view of payments
technology. His entrepreneurial and start-up mindset led to the
creation of Mastercard Labs, a global R&D effort that looks at
the future from a fresh perspective, determining how advances in
technology and consumer trends are going to impact the company’s
business.
“Garry has helped us to think differently about the payment
experience, using those sparks to deliver additional value to
customers and consumers,” said Ajay Banga, president and chief
executive officer, Mastercard. “I’m looking forward to the
opportunities his new venture will create for our company, both as
a customer and as an investor. We look forward to our shared
success.”
Prior to joining Mastercard, Garry was chief executive officer
of Orbiscom, a leading provider of innovative payment solutions and
the inventor of Virtual Card Numbers. He was with Orbiscom since
its incorporation, serving in several roles before it was acquired
by Mastercard in December 2008.
“I’m excited for this next chapter in my career,” said Garry
Lyons, chief innovation officer, Mastercard. “And I’m equally
delighted to embark on this journey with Mastercard as a partner as
we create new services for our customers.”
Delivering Best Consumer Experience In-Store and
Online
Michael Miebach, chief product officer, will lead the
newly-formed Products and Innovation team, bringing core products,
digital payments, Mastercard Labs and processing activities
together. This structure builds on the company’s continued
investments in digital solutions to ensure the best consumer
experience online and offline, while maintaining the highest levels
of safety and security.
This integrated team will accelerate efforts to create the best
solutions for consumers and businesses by securing every
transaction and simplifying access to the company’s digital
assets.
Miebach was originally named chief product officer in January
2016. Over the past two years, he has strengthened the foundation
of the company’s core card-based business, while leading the
expansion into real-time account-based payments through the
acquisition of Vocalink.
“Michael’s extensive experience and global perspective has had a
significant impact on the product organization in a short time,”
said Banga. “I believe that his new structure will best embody the
convergence of the physical and digital worlds. The integrated view
of value today with an eye toward the future will spark more
powerful experiences for the end consumer.”
“Our company’s differentiation lays in maintaining a laser focus
on the consumer experience online and offline, in safe and seamless
ways,” said Michael Miebach, chief product officer, Mastercard.
“I’m delighted to lead this expanded team that will leverage the
best of the physical and digital ecosystems to create powerful
solutions for our customers.”
Miebach brings a wealth of insights and global experience from a
career in payments and retail banking to drive customer-focused
innovation and deliver solutions that provide more than just a
transaction. He previously headed Mastercard operations across the
Middle East and Africa, and held senior roles at both Barclays Bank
and Citibank across Europe, Africa and the Middle East.
Miebach is a member of the board of directors for the nonprofit
Accion, which provides him a platform to help bring more people
greater opportunities in the formal economy. In 2017, Miebach
joined the advisory board of the Ronald McDonald House New
York.
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
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MastercardSeth Eisen, 914-249-3153seth.eisen@mastercard.com
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