Global payments player Mastercard has elevated Vikas Varma as its Chief Operating Officer. Vikas is associated with Mastercard since 2005 and held several leadership roles, namely overseeing business, market and merchant development, among others.
As a part of his new role, Varma will be playing a vital role in leading Mastercard’s long term planning for the India market. Besides, Mastercard recently announced an investment of $1 billion for the next five years in India, on top of it’s the earlier investment of $1 billion during 2014-19.
As the COO, Vikas will be leading new partnerships and development of digital payments solutions in the country. These initiatives will help in accelerating Mastercard’s ongoing focus further on technology innovation, merchant acceptance, and consumer adoption of digital payments.
“Mastercard is excited to announce the appointment of Vikas Varma as Chief Operating Officer. With his deep understanding of the payments ecosystem and retail financial services, Vikas has contributed immensely to Mastercard’s operations in India. Given his vast experience and expertise in payments innovation in emerging markets, Mastercard is confident that in his new role, Vikas will be instrumental in driving growth of digital payments and support India’s evolution to a less-cash society,” said Porush Singh, Division President, South Asia, Mastercard.