MasterCard appoints new SA boss
MasterCard has appointed Mark Elliott as Division President for South Africa.
Based in Johannesburg, Elliott will oversee the performance, strategic direction and brand development of MasterCard in South Africa.
“Although there has been a steady increase in the use and acceptance of electronic payments in South Africa, cash is still king. According to a 2013 MasterCard study, only six percent of consumer transactions that were made in South Africa used non-cash methods,” Elliott said.
“I look forward to working with financial institutions, government, merchants and telcos to increase the adoption of safe and convenient electronic payment solutions and displace cash, which can cost the country between 0.5% – 1.5% of GDP each year,” he said.
In 2011, Elliott joined MasterCard in Dubai where he held the role of Global Products and Solutions Lead and Debit Lead for MasterCard in the Middle East and Africa (MEA) region.
Prior to joining MasterCard, Elliott spent eight years at Barclays. During his time there, he was Head of Sales and Distribution and then Head of Retail for Barclays United Arab Emirates. He also spent two years in South Africa as Director of Business Development for Absa Card.
Elliott is a qualified Chartered Accountant and investment banker having held positions at ING Barings, PwC, Dresdner Kleinwort Benson and Arthur Andersen.
Elliott holds a BA (Hons) in Combined Studies from the University of Newcastle-upon-Tyne and is a Member of the Institute of Chartered Accountants for England and Wales. He is a British national who grew up in Hong Kong and India.
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