Mastercard boosts commitment to fast-track the cashless economy in Southeast Asia by augmenting leadership team

Long-time Mastercard veteran Safdar Khan takes on newly created role as Division President for Southeast Asia Emerging Markets

In his new role, Safdar will lead Vietnam, Thailand, Indonesia, Myanmar, Cambodia and Laos - priority markets for Mastercard given their growth potential. His leadership will inspire teams within markets to better facilitate opportunities within this diverse region, including growing digital engagement with both current customers and new fintech players, and forming and furthering partnerships with respective market government bodies. This shift in structure and advancement in leadership serves to hone the organization’s focus in Southeast Asia, where rapidly digitizing economies and populations are driving six of the world’s top 14 high-performing emerging markets.

“Today’s global digital landscape requires both agility and innovation to work alongside stakeholders – governments, fintechs and other service providers. Southeast Asia is a region on the cusp of explosive economic and technological growth. Safdar’s extensive experience in working with stakeholders across the region to drive the adoption and implementation of digital payments technologies makes him the ideal candidate to help advance Mastercard’s ambitions to enable a new era of sustainable and inclusive financial growth across these vibrant economies,” said Ari Sarker, Co-President, Asia Pacific, Mastercard.

Safdar has over two decades of experience in banking and payments, having also worked in ABN AMRO, Citibank and Oracle in North America, Asia and the Middle East. For the last 10 years, Safdar has held senior leadership positions at Mastercard in Asia and the Middle East. His most recent position was Division President for Indonesia, Malaysia and Brunei at Mastercard.

“Southeast Asia’s emerging markets are dynamic centers of growth and potential, where tech-enthusiastic populations are embracing technology as an inclusive and convenient means to meet their needs. This year, over half of Vietnam’s population is expected to transact digitally amidst the country’s surging ecommerce market. Mastercard is committed to grow alongside and facilitate the progression of markets like Vietnam, to create a world beyond cash. This is a welcome opportunity to deepen and broaden Mastercard’s initiatives - to augment issuing and acceptance services and further cashless agendas within the region,” said Safdar Khan.