Philip Yen to Lead Emerging Payments at MasterCard in Asia Pacific, Middle East & Africa
New Role Demonstrates Company’s Commitment to Developing Customized Solutions to Meet Diverse Needs of the Region
Singapore – MasterCard Worldwide today announced that Philip Yen has been appointed Group Head, Emerging Payments, a role that will reinforce MasterCard’s mission to advance global commerce in a way that makes life easier for consumers and drives innovation in electronic payments across the Asia/Pacific, Middle East and Africa (APMEA) region
Based in Singapore, Yen brings a depth of experience in the emerging payments arena and will be a key driver in developing new payment capabilities in existing and new channels. He will be responsible for driving product strategies to ensure maximum penetration of market segments and working with customers to identify opportunities. His remit will also include the integration of solutions across Emerging Payments.
“I am pleased that Philip is joining our Emerging Payments team as we continue to forge ahead with innovative products and solutions that meet the needs of the global marketplace,” said Ed McLaughlin, Chief Emerging Payments Officer for MasterCard. “His vast industry experience will better enable MasterCard and our customers to bring solutions to market that will give consumers better ways to pay.”
Prior to joining MasterCard, Yen served as Vice President, Product Management at Dynamics Inc., a startup that makes next generation payment cards. He was a founding member of the company and played a key role in product development, marketing, sales, and securing early funding. Prior to Dynamics Inc., Yen worked at Visa Inc. for 16 years. In his most recent position there, he was Executive Vice President and General Manager for Strategic Innovation based in Sydney, Australia. Yen also held other key positions such as Executive Vice President, Products Group, and General Manager, Emerging Products and Technologies based in Singapore and Tokyo; and Executive Vice President, e-Visa and Senior Vice President, Chip Platform based in California.
“With the convergence of technology and payments, the development of an innovative suite of products and services that meets the needs of consumers in our diverse region has become increasingly important. With his insights into the fast-paced emerging payments landscape and successful track record, we are excited to have Philip drive this important area for our region,” said Vicky Bindra, president, APMEA, MasterCard.
Yen holds a Bachelor of Science, Summa Cum Laude from Duke University, North Carolina. MasterCard Worldwide – Page 2 Philip Yen to Lead Emerging Payments at MasterCard in Asia Pacific, Middle East & Africa
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl®. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.
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