Square Inc., the mobile-payment company founded two years ago by St. Louisans Jim McKelvey and Twitter co-creator Jack Dorsey, said Wednesday that it has received “a strategic investment” from Visa Inc. Using a square-shaped card-reader that plugs into devices running Apple iOS or Google Android, Square’s electronic payment service lets businesses accept credit and debit cards on mobile phones and iPads. Square said it has been signing up nearly 100,000 new merchants a month this year. Visa President John Partridge said in a statement that with the Square deal “new types of merchants will now be able to accept payment and help grow their business via Visa’s global network…” The deal calls for a Visa executive to join Square’s advisory board.
April 27, 2011 10:30 AM Eastern Daylight Time
PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Worldwide today announced that Marcie Verdin has been appointed group head, Global Person-to-Person (P2P) Payments, effective immediately.
As group head, Global P2P, Verdin will be responsible for implementing MasterCard’s global P2P strategy, including identifying new and innovative P2P payment and money transfer solutions. Verdin replaces Andrew Ong who has decided to pursue other opportunities outside of MasterCard.
Marcie has more than 20 years of experience in product development, management and marketing. She joined MasterCard in 2005 and most recently served as group head, global commercial products. Over the last few years, she has made significant contributions in helping to develop MasterCard’s commercial product solutions targeted to the large, middle and small business segments. Prior to joining MasterCard, Marcie held positions with Galileo International, VeriSign, Visa, American Express and Accenture.
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.