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03/08/2010 -
As Visa continues to increase its share of the credit card market, MasterCard is announcing changes in the hopes of spurring its customers to point-of-sale terminals.The credit card company has announced that Ed McLaughlin will take over as chief emerging payments officer and Eileen Simon will become the company’s chief franchise development officer.
McLaughlin joined MasterCard in 2005 the as group head of bill payment and healthcare, and was most recently group executive for the company’s franchise development. Prior to joining MasterCard, McLaughlin was the group vice president for product and strategy at the financial services technology company Metavante.
In her new role, Simon will be responsible for developing and implementing a franchise strategy that will establish MasterCard in the global marketplace. Simon joined the company in 1999, and mostly recently served as legal counsel for various departments.
Last week, MasterCard announced that company growth had slowed as payment transactions stalled, rising only 0.1 percent for this year’s second quarter. Additionally, shares have declared 21 percent since the beginning of the year.
