MasterCard has appointed Betty DeVita chief commercial officer of its payments innovation research and development arm, where she will be tasked with guiding disruptive new technology towards the market.
MasterCard Labs was formed four years ago as a place for the card company to experiment with new ideas as it seeks to maintain its position in a rapidly changing payments world that is seeing a host of new entrants - from Apple to Stripe - use innovative technology to challenge the establishment.
DeVita will be responsible for developing and managing strategic partnerships focused on commercialising the MasterCard Labs assets. Current Lab assets already being put through the commercial wringer include ShopThis! and Qkr! with MasterPass.
Garry Lyons, chief innovation officer, MasterCard, says: "MasterCard Labs’ has a proven track record in generating new ideas, fast-tracking the best ideas from concept through prototype, piloting and commercialising — faster than ever before. Betty’s focus on commercialisation of these ideas with existing and new partners will have a direct effect on the commerce evolution."
DeVita moves from her role as president of MasterCard Canada, replaced there by Brian Lang, market development lead for Middle East and Africa.