Mphasis hires AmEx executive as global payments head

Mumbai-listed Mphasis Ltd has appointed Andres Ricaurte as its vice president and global head of payments, the software services company said in a statement.

Ricaurte previously headed the business-to-business payments vertical at US-based financial services giant American Express. He will be based in New York City, the statement said.

Mphasis, controlled by private equity firm Blackstone, provides cloud and cognitive services and is looking to increase its focus in the payments segment. The segment is gaining momentum globally on the back of innovations by fintech firms and the emergence of emerging technologies like blockchain, analytics and artificial intelligence-based solutions.

Ricaurte has 15 years of experience in payments and financial services innovation, Mphasis said. He will lead the company's efforts to bring the next generation of solutions, capabilities and platforms to the global payments market, it added.

"Combined with our strong footprint of proven capabilities within the financial services verticals, the appointment will enable us to deliver a wide range of innovative solutions to the complex payments market,” said Dinesh Venugopal, president-direct and digital at Mphasis.

Ricaurte holds a bachelor’s degree in engineering and a master’s degree in business administration. He had led AmEx's fintech platforms, partnership capabilities and application programming interface strategy for the global B2B business. He had also held positions in product management, product and platform development, strategic partnerships, and innovation across B2B and B2C businesses.

Bengaluru-based Mphasis reported consolidated net profit of Rs 838 crore on consolidated net sales of Rs 6,546 crore for the financial year ended March 2018.