The most commonly known global credit card payment network companies are VISA, MasterCard and American Express, all of which provide the routing infrastructure necessary to facilitate payment between the card holder, the issuing bank and the acquirer. In the debit world, the landscape differs dramatically from country to country with different domestic debit networks taking precedence.
Recently subjected to intensive political and public scrutiny over the fairness and transparency of interchange fees and consumer interest rates, both Visa and MasterCard have been required to overhaul internal policies and strategic objectives and to refine and clarify external communications. Visa and MasterCard’s emergence in the debit field, already well established across some global regions, also introduces fierce competition for talent in this unique field. As the race toward mobile payments continues to take hold, the network companies face increasing urgency to identify strong technology and product focused executives to support their growth in all areas of payments innovation.