Mastercard has named Vocalink CEO Paul Stoddart president of new payment platforms as of March 1, according to a press release. Stoddart succeeds David Yates, who will become a senior advisor for real-time national and cross-border payment strategies at Mastercard.
Stoddart has been CEO of Vocalink since Mastercard acquired the company in 2017. In his new role, he will oversee development and integration of real-time payment capabilities beyond traditional card payment solutions. These solutions include Vocalink, the Homesend cross-border payments joint venture and Mastercard Send.
“Paul’s industry experience and deep immersion in the business makes him an ideal choice to drive the growth of our account-based payment activities,” Michael Miebach, chief product officer at Mastercard, said in the release.
Stoddart originally joined Vocalink as managing director responsible for strategy, corporate development and U.K. and international products. He is a former president of Western Union and First Data International and also worked at Barclaycard, where he was responsible for mergers and acquisitions and asset disposal.