MasterCard has hired Andrew Ong as group head for global person to person (P2P) payments.

Based in Singapore, Mr Ong will be responsible for identifying and evaluating new P2P payment solutions that will continue to displace cash and check payments and will help in growing MasterCard’s overall transaction processing and gross dollar volume.

Prior to joining MasterCard, Mr Ong held several key positions at Western Union, General Electric, IBM and Hewlett Packard. In his most recent position at Western Union, he served as regional vice president and managing director in their North Asia region and board member of the Western Union foundation.

Mr Ong was also a key member of the executive committee for Western Union’s APAC region. He provided strategic direction for a team of 38 professionals across the region to acquire, grow and retain business in China, Japan, Korea, Mongolia, Taiwan, Hong Kong and Macau.

Joshua Peirez, group executive for innovative platforms at MasterCard, said: “We are excited for Andrew Ong to join our innovative platforms team as we continue to build MasterCard’s innovation profile with solutions that meet the needs of the global marketplace.

“His well-rounded experience for the world’s leading technology and money transfer companies will even better enable MasterCard to bring innovative P2P solutions to market intelligently and efficiently giving consumers around the world a better way to exchange funds.”