LONDON--(BUSINESS WIRE)--Thredd, the fast-growing ‘next-gen’ issuer payments platform, appointed Jim McCarthy to succeed Kevin Schultz as CEO, effective immediately, as Schultz will retire later this year. McCarthy is based at Thredd’s global headquarters in London.
McCarthy is highly accomplished in the payments sector with over 30 years of experience, including 18 years at Visa, where he held senior roles in sales, risk and authentication, consumer credit, digital products and product innovation. He joined Thredd as Executive Vice President – Global Head of Product and Sales in January 2023 after previously working as President of i2c Inc, a US-based payments processor, that he led to record growth.
As Visa’s EVP of Innovation and Strategic Partnerships, McCarthy was responsible for the development of Visa’s product and technology roadmap, and innovation efforts, and led business development for strategic partnerships. While at Visa, he was responsible for introducing 3D Secure and Visa Token Service, which have become industry standards and contributed to the launch of Apple Pay®.
“I’m immensely proud of what we have accomplished at Thredd since I joined – we have successfully implemented a new strategy and repositioned the company for sustainable growth,” said Kevin Schultz, outgoing CEO. “With Jim taking the reins, supported by owners who are committed to our continued success, Thredd is well placed as it enters an exciting new phase. It has been a tremendous experience to work with such an impressive team.”
“Jim is an extraordinary and proven leader in the global payments sector, and we are delighted that he has agreed to lead Thredd through its next period of innovation and acceleration,” added Gene Lockhart, Thredd Board Chairman. “We would like to thank Kevin for his enormous contribution to the company as CEO, and the key role he has played in its success and transformation during this time.”
“I’m extremely excited to take on the role of CEO at Thredd,” said Jim McCarthy. “Since joining the organisation earlier this year, I could not have been more impressed by the incredible offering and team that we’re building here. Innovation is the lifeblood of any payments business, and I’m looking forward to continuing to deliver for our clients with new product development in a client-centric approach.”
Since the company received investment from Advent International, Viking, Temasek and Mission OG in late 2021, Thredd has been focused on transforming the organisation for future growth. The company will soon launch a US product line and has had significant success in the Asia-Pacific market after expanding from its UK and European roots.