master Card We realigned our organizational structure to support our strategic priorities and position ourselves for the 'next era of growth.'
The reorganization is centered around three teams. Commercial and new payment flows. and services, the company announced on Tuesday (April 9). press release.
“These changes strengthen our strategy and competitive advantage, drive long-term growth, diversify our revenue streams and differentiate our products and solutions,” said Mastercard CEO. I am. Michael Miebach said in a release. “Our teams will be able to work faster and deliver more value to our partners and customers.”
Mastercard's core payments team is led by yonn lambertChief Product Officer, according to the release. The team will focus on core payments, products and platforms. Real-time payment function. and innovation in acceptance, consumer value proposition, and optimization capabilities.
“Core payments are the foundation of the company, and the team's focus is on providing seamless and secure payments,” the release states.
The company's commercial and new payment flow teams raj seshadri, Chief Commercial Payments Officer. The team covers commercial cards. B2B accounts payable and receivable. Payment of non-card bills. remittance; payment; Solutions for the healthcare industry.
“Payment and data flows beyond consumer card payments represent a scalable opportunity,” the release states.
The service team is led by craig vosburg, Chief Service Officer. This will integrate services provided by Mastercard's current Cyber and Intelligence, Data and Services, and Open Banking teams.
“Managing fraud, risk, and cybersecurity, and growing through insights, analytics, and loyalty programs is a universal need,” the release states.
Mr. Vosburg will also oversee the newly created data and AI organization. Greg Ulrich, Chief AI and Data Officer. This organization includes the commercialization of internal and external applications and the governance of these functions.
In addition, Ajay Bala He plans to retire after more than 30 years with Mastercard.
These leadership changes are effective immediately, according to the release. Other parts of the organizational transition will take effect May 1st.
At a financial results conference on January 31st, Mastercard announced new payment flows and digital innovation This outpaced the growth in card spending. There is also strong demand for security and authentication solutions that protect these transactions.