Mastercard Merges Physical, Digital Payments Teams as Chief Innovation Officer Departs

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Payments processor Mastercard will be integrating its physical and digital payments team into one come April, the company announced, a change that follows the departure of Chief Innovation Officer, Gary Lyons.

Lyons will leave the company to head an “outside venture” that will provide services and work closely with Mastercard, according to this week’s press release.

The company’s new integrated department, branded the Products and Innovation team, will bring digital payments, Mastercard Labs, and the company’s core products under one banner. It will be headed by Michael Miebach, chief product officer for Mastercard.

Miebach said in the release:

Our company’s differentiation lays in maintaining a laser focus on the consumer experience online and offline, in safe and seamless ways.I’m delighted to lead this expanded team that will leverage the best of the physical and digital ecosystems to create powerful solutions for our customers.

Read more at Finextra, Markets Insider, and PYMNTs.

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Grace Noto is Associate Editor of Bank Innovation. She has an MA from the University of Essex, as well as BA in English and a BA in Journalism from SUNY New Paltz. Prior to joining Bank Innovation in the summer of 2016, she worked on Electronic Products Magazine, an online publication surrounding technology and computer engineering, and has worked for other publications, including the Poughkeepsie Journal. She also writes in her spare time, and really needs more hobbies.

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