Debit & Prepaid

Visa Hires Mobile Exec To Reach Unbanked Consumers

Visa Inc. has hired Gavin Krugel to work on its global mobile team to help the card brand to reach unbanked consumers in developing economies, Visa announced Oct. 5.

Krugel will serve as head of consumer strategy and market activation for Fundamo, the South African mobile payments company Visa acquired in June for $110 million (see story).  Fundamo focuses mainly on working with mobile-network operators and banks in developing regions.

Krugel will oversee the implementation of mobile money services for developing markets in Asia Pacific, Central Europe, the Middle East and Africa. He also will support the activation of mobile-money programs by Fundamo customers, Visa said.

Before joining Visa, Krugel was senior director at GSMA, a global mobile industry association. He led the group’s mobile-money efforts in international remittances and in making financial services available to the unbanked through mobile options.