Aaron Carpenter Named New CEO of Transact Payments

Payments and card service company Transact Payments has named Aaron Carpenter as its new CEO.

The company announced the appointment in a news release Tuesday (Nov. 29), saying Carpenter would be responsible for supporting “the diversification of its product offering” while helping Transact grow.

Carpenter has been with the company since 2019, first as chief operating officer before being named CEO of Transact Payments Malta Limited, the European licensed entity within the group.

“The company has built up significant momentum in the last number of years and my focus will be on continuing our sustainable growth model while helping to diversify our payment product offering to clients,” he said.

Based on the British territory of Gibraltar and with offices in Malta, Transact deals in the U.K. and European BIN sponsorship and modular payment services. According to the release, its clients include “traditional credit institutions through to cutting-edge fintech firms,” and it has worked with companies including Payac, Pliant, Moss and Lendable.

Recent research by PYMNTS underlines the importance of digital payments expansion. We’ve found that 90% of the chief financial officers we’ve surveyed say their companies were either investing in payment digitization already or plan to do so in the future.

At the same time, the prioritization of digital payments has gained support by helping companies maximize operational efficiencies. Nevertheless, the most attractive areas of future investment mentioned by the CFOs we surveyed were those dealing with preventing fraud, risk management innovations, working capital and credit solutions.

“Digitization Strategies: How CFOs Are Prioritizing Digital Payments to Maximize Efficiency,” a collaboration between PYMNTS and Corcentric, found that 83% of CFOs said their digitization investments led to improved fraud prevention and risk management functions.

Another 77% said the investments resulted in improvements in their management of working capital and credit — a crucial area seeing as how most of the CFOs said they expect the present economy to slide into a recession.