LAKE OSWEGO, Ore.--(BUSINESS WIRE)--Vesta, a pioneer in guaranteed payment and fraud protection technologies, has named Ron Hynes as its new CEO. Founder and outgoing CEO Doug Fieldhouse will remain on the board of directors as chairman.
Hynes brings more than 20 years of experience leading high-growth payment businesses. His background in growing and scaling payment solutions spans a variety of established and startup fintech companies, including four years at the helm of Mastercard’s global prepaid business, where he led remarkable global revenue and market share growth. Most recently, as CEO of UniRush, he led the turnaround and eventual sale of the company and its RushCard business to GreenDot. Now, Hynes is charged with leading Vesta as it pursues an aggressive expansion agenda on both product and geographic fronts. The company’s product suite provides solutions that maximize approvals and eliminate payment fraud for the rapidly growing e-commerce and telecommunications markets.
“Ron has an exceptional track record of building high-performing teams to achieve growth, and his collaborative management style is a great cultural fit for our organization,” said Fieldhouse. “Ron’s product-centric approach will be a tremendous asset to our clients, who rely on Vesta to increase approvals and reduce losses in card-not-present channels.”
“As transaction volumes for e-commerce continue to accelerate globally, so too does the risk of fraud,” said Hynes. “Our solutions eliminate fraud risk while reducing friction, and most importantly, increase the number of transactions that are approved so e-tailers can focus on what matters – growing their businesses.”
Vesta has continued to broaden its cutting-edge data science and machine learning capabilities to deliver unparalleled accuracy to fraud detection for customers around the world. Vesta’s solutions enable e-commerce companies to boost revenue through increased approvals and a seamless customer experience while at the same time reducing operational costs and eliminating losses due to fraud.
“Doug has built a great company and I am excited to step in as he realizes his long-term goal of transitioning to Vesta’s Chairman,” added Hynes. “Vesta pioneered zero-liability payments more than 20 years ago with the largest global telecommunications providers, and we are now bringing that leadership to the broader e- and m-commerce space. I am looking forward to leading the next growth stage for the company.”
Vesta is a global leader in fraud protection and guaranteed e-commerce payment solutions. Founded in 1995 and headquartered near Portland, Oregon, Vesta pioneered fully guaranteed card-not-present payment transactions for the telecommunications industry. The company has achieved its leadership position through cutting-edge data science and machine learning capabilities that deliver unparalleled accuracy to fraud detection around the world. Today, Vesta guarantees more than $15 billion in transactions annually. Vesta is a best-in-class provider of secure payment solutions with zero liability for fraud chargebacks, empowering merchants to focus on growing revenue and delivering an exceptional buying experience to customers, without fear of fraud. For more information, visit www.trustvesta.com.