Mastercard has named Paul Stoddart its new president of New Payment Platforms.
Stoddart, who begins his new position on March 1, will oversee the development and integration of the company’s real-time payments capabilities beyond card-based solutions, including 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,” Michael Miebach, chief product officer of Mastercard, said in a press release. “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 CEO of Vocalink following the company’s acquisition by Mastercard. He began his time with Vocalink as a managing director, handling global product portfolios, corporate development and strategy.
Previously, Stoddart worked in mergers and acquisitions at Barclaycard. Before that, he was employed for 12 years at RBS in various roles, most notably in the company’s WorldPay unit.
Stoddart succeeds David Yates, who is transitioning into a senior advisory role focused on real-time payments and national and cross-border payments strategies.
“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,” added Miebach.