Mastercard Names Paul Stoddart President of New Payment Platforms
February 05 2019 - 11:10AM
Business Wire
Succeeds David Yates, Who Moves Into Advisory
Role
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.
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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 2001, 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,
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version on businesswire.com: https://www.businesswire.com/news/home/20190205005692/en/
Seth Eisen, Seth.Eisen@mastercard.com, 914-249-3153
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