Industry Veteran Joins Leadership Team to Focus on Strategic Priority
PURCHASE, N.Y--(BUSINESS WIRE)--MasterCard Worldwide today announced that Mung-Ki Woo is joining the company as Group Executive, Mobile, effective January 24, 2011. Woo will have global responsibility for innovation, commercialization and development of go-to-market strategies to support mobile payments around the world.
“Mobile is a critically important strategic initiative for MasterCard and we are excited to have Mung-Ki join our team as we continue to deliver innovative mobile solutions to the global marketplace”
“Mobile is a critically important strategic initiative for MasterCard and we are excited to have Mung-Ki join our team as we continue to deliver innovative mobile solutions to the global marketplace,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard Worldwide. “Consumers are quickly growing more comfortable with using their mobile devices for search, shopping and payments. With extensive knowledge of the telecommunications landscape, Mung-Ki will enhance our global perspective and lead MasterCard’s future growth in mobile commerce.”
Most recently, Woo was Vice President of Electronic Payments & Transactions at the France Telecom - Orange Group, where he led the development of the “Orange Money” mobile payment program, which at the end of 2010 was commercially available in several African countries. He was also responsible for commercial deployment of Orange’s mobile contactless services in their major European markets. Previously, he was Chief Technical Officer of a French interbank organization specialized in electronic money systems.
Woo is a graduate of Ecole Polytechnique and Ecole Nationale Supérieure des Télécommunications. He will be headquartered in Purchase, New York.
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 2009, $2.5 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 22 billion transactions each year, has the capacity to handle 140 million transactions per hour, with an average network response time of 140 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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