MasterCard Selects New Exec To Lead Global Prepaid Solutions

MasterCard has appointed Michael Fiore as group executive of Global Prepaid Solutions, according to a company release. Fiore will lead the ongoing development and execution of the company’s global prepaid strategies in his new role.

The company’s prepaid programs address a “myriad of consumers’ payments needs,” said Craig Vosburg, chief product officer at MasterCard, in the release. That includes helping those who want to segment funds for security, convenience of budgeting purposes, as well as the unbanked that want to have access to safer and more efficient ways to pay.

MasterCard prepaid product options range from general-purpose reloadable cards to employee benefit, payroll, travel, incentive, government disbursement programs and gift cards.

“Michael’s track record, combined with the know-how of our global team, sets the foundation for continued success and growth of our prepaid business,” said Vosburg.

Fiore has previously held several roles at MasterCard. Most recently, he led the company’s cross-border remittance, person-to-person payment and disbursement strategies.

Fiore replaces Ron Hynes, who recently left MasterCard to pursue a new opportunity.