Visa Inc. has hired Gavin Krugel to work on its global mobile team, in an effort to reach unbanked consumers in developing economies.
Krugel will serve as head of consumer strategy and market activation for Fundamo, the South African mobile payments company Visa acquired in June for $110 million, the card network said Wednesday. Fundamo focuses mainly on working with mobile network operators and banks in developing regions.
Krugel will oversee the implementation of mobile money services for developing markets in Asia Pacific, Central Europe, the Middle East and Africa. He also will support the activation of mobile money programs by Fundamo customers, Visa said.
Prior to joining Visa, Krugel was senior director at GSMA, a global mobile industry association. He led the group's mobile money efforts in international remittances and in making financial services available to the unbanked through mobile options.