Prasad is entrusted with fortifying the organization’s progressing responsibility regarding conveying an incentive to clients and purchasers in Africa by utilizing innovation to manufacture more grounded and more comprehensive installment ecosystems.
“The influence and true potential of technology is seen on the continent like almost nowhere else in the world,” said Prasad.
He said Africa has an advantage of not having invested in legacy infrastructure and can embrace the latest technologies, especially mobile, to transform the payments landscape.
“Technology innovation is influencing the way consumers engage with the world around them, shaping economies, creating smarter, more connected and financially inclusive cities.”
The appointment is spurred on by the company’s steady growth in Sub-Saharan Africa and in line with its focus on investing in the continent.
Mobile continues to act as a critical conduit of growth in the region, currently accounting for nearly a tenth of the global mobile subscriber base and is predicted to grow faster than any other region globally over the next five years.
Prasad brings his extensive 30-year global financial services and payments industry experience to further Mastercard’s goal of financially including 100 million people by 2020.