GoCardless welcomes Paul Stoddart as Chairman
LONDON–(BUSINESS WIRE)–GoCardless, a leader in direct banking payment solutions, today announced the appointment of Paul Stoddart as President. Stoddart joins Mastercard where he was president of its new payment platforms, executive chairman of Vocalink and a member of Mastercard’s management committee. In his new role at GoCardless, he will have overall responsibility for the go-to-market organization, including Strategy, Sales, Product, Marketing and Customer teams, with a view to accelerating growth and achieving the ambition of the company to become the global banking payment network. .
Stoddart brings a wealth of experience to GoCardless. He was named Managing Director of Vocalink after its acquisition by Mastercard, then promoted to President of Mastercard’s New Payments Platforms, where he led the creation and growth of a business unit that expanded Mastercard’s role in payments to the beyond cards to account-to-account payments. . Prior to Vocalink, he was co-head of corporate finance at Barclaycard. He also spent 10 years at NatWest where he held several leadership positions including their merchant acquiring and e-commerce business, Worldpay.
His appointment comes as the company expands its offering of direct bank payment solutions for one-time and recurring payments and expands its suite of payment intelligence products to help businesses more effectively manage their payments. GoCardless will benefit from Stoddart’s expertise in doubling account-to-account payments, with plans to soon launch its variable recurring payments feature in the UK and expand Instant Bank Pay, its solution for one-time payments, across the UK. Europe.
Hiroki Takeuchi, co-founder and CEO of GoCardless, said“This year marks an inflection point at GoCardless as we expand beyond recurring payments to serve a wider range of customer segments and payment use cases. Having the right people to guide us on this journey is critical as we grow our business, develop new products and services with open banking, and explore new markets. Paul has unique experience in card and cardless payments and is well positioned to help us seize the opportunities that will make GoCardless a force to be reckoned with in payments.
Paul Stoddart, President of GoCardless, said: “GoCardless is currently in an incredibly exciting situation. Hiroki and his team have already built a successful business by solving real customer problems. They have the foundation for a global bank payment network that will grow stronger as more businesses and people adopt account-to-account payments, from bank debit to open bank payments. We will continue to push the boundaries of what is possible when it comes to payments. In this new role at GoCardless, I will have the opportunity to be part of the team building the next generation of payment solutions to do just that, with customer needs at the forefront.
Stoddart’s appointment comes as GoCardless continues to accelerate its growth following its last US$312 million funding round in February. In the months that followed, GoCardless launched its second open banking feature, Verified Mandates, in the UK and Success+, its ‘payment intelligence’ product which uses machine learning to identify the optimal day to collect failed payments, in the United States.
In the UK, GoCardless recently signed up its first variable recurring payment customers and plans to introduce VRPs in both ‘swipe’ and ‘non-swipe’ forms over the next few months. By mid-2022, GoCardless will also integrate PayTo into its global bank payment platform in time for the regulated launch in Australia.
GoCardless is a global leader in direct bank payment solutions, making it easy to collect recurring and one-time payments directly from customers’ bank accounts via Direct Debit and Open Banking. GoCardless’s global payments network and technology platform makes payments simple for 70,000 businesses worldwide, from multinationals to small businesses. Each year, GoCardless processes over $30 billion in payments in over 30 countries. GoCardless is headquartered in the UK, with additional offices in Australia, France, Germany and the United States. For more information, visit www.gocardless.com and follow us on Twitter @GoCardless.
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