In this role, he will lead the ongoing development and execution of the company’s global prepaid strategies.  These programs provide individuals, organizations and governments with tools that create more efficient, easier ways to receive, hold and activate money. MasterCard prepaid product options range from general purpose reloadable cards to employee benefit, payroll, travel, incentive, government disbursement programs and gift cards.

Fiore replaces Ron Hynes, who recently left MasterCard to pursue a new opportunity.

“For millions of people around the world and their communities, MasterCard prepaid programs address a myriad of consumers’ payment needs – from those who simply want to segment funds for security, convenience or budgeting purposes such as travel, to helping the unbanked have access to safer and more efficient ways to pay. Michael’s track record, combined with the know-how of our global team, sets the foundation for continued success and growth of our prepaid business,” said Craig Vosburg, chief product officer, MasterCard.

Fiore has held several roles in his decade with MasterCard.  Most recently, he led the company’s cross-border remittance, person-to-person payment and disbursement strategies. Previously, Fiore played an instrumental role in the acquisition of Orbiscom and launch and evolution of inControl.