MasterCard has hired former VocaLink chief executive Marion King as president of its UK and Ireland business.
Joining next month and reporting to MasterCard Europe president Javier Perez, King is charged with "creating a cashless society in the UK", developing emerging technologies such as contactless and mobile.
She replaces Hany Fam, who after three years in the role is moving to a newly created position, heading European market development and strategic partnerships.
King left VocaLink late last year having steered the company from its previous incarnation as bank-owned back office clearing operation Bacs, through to its merger with the Link Interchange network in 2007.
Her reign at VocaLink saw the ACH introduce the Faster Payments programme for the UK banking industry and a failed multi-million pound bet on the development of a range of Sepa processing services which was canned in August.
Says King: "I'm excited to be joining MasterCard to lead a key market at a time when our industry faces both great opportunities and challenges. I'm looking forward to working with the talented team in the UK to build on their achievements and to deliver the next generation of safe, simple and smart payments that make life easier for consumers."