Mastercard appoints Zhou as treasurer

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MasterCard named a 16-year American Express veteran Vivian Zhou as the new corporate treasurer, effective August 15, according to a corporate blog post on Thursday (July 21).

Zhou will succeed Alfred Kibe, who will become Mastercard’s new chief financial officer in North America.

At American Express, Zhou was most recently in charge of investor relations, although she held several senior positions in global treasury throughout her tenure with the company. Some of his previous responsibilities were balance sheet strategy, planning and overseeing the treasury department’s work in global capital markets, the statement said.

“Vivian brings deep experience that is well suited to support the execution of Mastercard’s strategy,” said Mastercard’s Chief Financial Officer. Sachin Mehra. “We look forward to having her join the team and leveraging her experiences to drive our continued growth globally.”

Earlier this month, PYMNTS reported that data from Mastercard SpendingPulse showed US consumer spending in June grew 9.5% year over year. SpendingPulse examines both online and in-store retail for all forms of payment except automotive purchases.

See also: Mastercard SpendingPulse: U.S. retail sales grew 9.5% year-over-year in June

It comes as prices have been rising for months, with buyers still helping themselves with more leisure spending as opposed to the situation for most of 2020.

Data from SpendingPulse also showed that excluding autos and gasoline, retail spending grew 6.1% year over year. Additionally, in-store spending rose 11.7% in June, and e-commerce sales were roughly double what they were in June 2019.

“Sector by sector, we see a mixed picture of the impact of inflation on core consumer spending versus discretionary consumer spending,” Mastercard senior adviser Steve Sadove said in a press release. ‘era. “A notable highlight is that travel sectors such as airlines and accommodations continue to show signs of strong demand.”

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NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS HAVING HIGH DEMAND FOR SUPER APPS

About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

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