Visa Inc. has promoted the head of its North American bank sales unit and a former IBM employee to global head of product, the top executive post overseeing innovation, including NFC and contactless payment, among many other duties.
Jim McCarthy, who assumed his current position as head of North America financial institution sales in September 2008, will replace Elizabeth Buse April 1 as global head of product, one of Visa’s top 10 executive positions. Visa earlier this month named Buse group executive in charge of Asia-Pacific and Central Europe, the Middle East and Africa. Both McCarthy and Buse hail from Visa’s former USA branch.
As the new global head of product, McCarthy will be tasked with bolstering Visa's sagging U.S. credit card programs, while continuing growth in global credit, debit and prepaid.