Splitit Redefining Retail May 2024 Banner

Banyan Appoints Ex-Uber, PayPal Executive Vish Shastry as Chief Product Officer

Banyan has appointed former UberPayPal and Visa executive Vish Shastry as chief product officer.

“We are thrilled to welcome Vish to Banyan,” Jehan Luth, founder and CEO of Banyan, said in a Thursday (March 7) blog post. “He’s an innovator, and a world-class product leader with a deep expertise in payments and FinTech. Throughout his career, he’s helped design, deliver and scale platforms and networks for new growth and better customer experiences.”

Shastry brings more than 25 years of experience in the payments and tech industry to Banyan, according to the post. His most recent leadership positions include head of product at HealthTech firm Hims & Hers, global head of payments and financial products at Uber, and global head of payments platform at PayPal.

“His contributions have helped define and steer key industry tech standards such as EMVCo’s QR and SRC standards as well as the Visa Token Service,” the blog post said. “And his creativity (25+ filed or granted patents) and leadership attention to cultivating high-performing teams has enabled him to become a key guiding voice in the FinTech payments community.”

Shastry has also been a startup investor, an advisor to early-stage companies, and a regular consultant and speaker on the payments industry, per the post.

He joins Banyan at a time when the receipt data platform is expanding the range of item-level receipt data applications it offers to merchants, banks and FinTechs, according to the release.

“I’m excited to be joining the team at Banyan,” Shastry said in the post. “We’re in a unique position to enable better consumer experiences with data-driven insights from consumer shopping at the item level — to do so in a way that respects consumer and merchant privacy.” 

PYMNTS Intelligence has found that when card-linked offers are appealing and relevant, they can engage existing customers and even inspire them to share the best deals with family and friends.

The offers can encourage more spending and attract customers to new merchants, according to “Leveraging Item-Level Receipt Data: How Card-Linked Offers Helped Drive Year-End Spend,” a PYMNTS Intelligence and Banyan collaboration.

Banyan’s platform enables merchants and financial institutions to collaborate with partners on a range of uses cases that activate receipt data and card transaction data, Luth wrote in the PYMNTS eBook, “2023: The Year of Strategic Shifts in Business.” 

“In 2024, we’ll see a continued trend of personalized and contextualized payment experiences,” Luth wrote.