As it expands in North America, Paysafe adds Mastercard exec to its board

Global payments provider Paysafe Group has appointed Mastercard Vice Chairman Walt Macnee as an independent, nonexecutive director.

Macnee, who has led many payments initiatives around the world for Mastercard, takes his position for Paysafe immediately. He joins as Paysafe extends its installment payment product to North America's e-commerce market and in Canada through a partnership with Paytm.

“I have watched Paysafe notch up multiple successes over these past years, reinforcing its position and standing in the digital payments industry," Macnee said in the release. CEO Joel Leonoff "and the board of directors quite rightly continue to have very bold ambitions for the business," he said.

Blackstone and CVC Capital Partners acquired Paysafe through equity funds in December of 2017. Its board of directors consists of eight members — seven nonexecutive directors and one executive director.