Payments veteran David Yates takes on Chairman role at Yoyo
David Yates, former President of New Payment Platforms at Mastercard and now a senior advisor to the company, has taken on the role of Chairman at mobile payments/loyalty venture Yoyo.
Whilst at Mastercard, Yates also served as Executive Chairman of payments firm Vocalink, which was acquired by Mastercard in 2017, having been its CEO for the previous six years. Prior to that, he was President at Western Union. He also spent six years as President at First Data International.
“I am delighted to join Yoyo as Chairman having observed their growth over the past five years. I have no doubt that the next few years will be an exciting journey of rapid international scaling and continued product innovation,” Yates comments.
“The energy and dedication of leadership and wider team at Yoyo is infectious. Having experienced first hand the development of the payment industry, it is clear to me that the future very much lies in experiences that go way beyond just payment. In order to justify a transaction fee from a merchant, providers need to have a suite of value added services, such as Yoyo, in order to be the winners of the future.”
He takes over from Yoyo Co-founder Alain Falys, who will remain on the company’s board while working on new ventures in the UK, Europe and beyond.