Visa Canada has announced via an email to PAYMENTS on Thursday August 31st that Dan Iwachiw has assumed the role of Vice President and Head of Canada Products. An experienced professional with over two decades in the financial services sector, Iwachiw will be responsible for overseeing the growth, adoption, and development of Visa Canada's products and solutions, which encompass consumer products, digital offerings, risk management, installment plans, and loyalty programs.
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VisaVisa Canada has announced via an email to PAYMENTS on Thursday August 31st that Dan Iwachiw has assumed the role of Vice President and Head of Canada Products.
An experienced professional with over two decades in the financial services sector, Iwachiw will be responsible for overseeing the growth, adoption, and development of Visa Canada’s products and solutions, which encompass consumer products, digital offerings, risk management, installment plans, and loyalty programs.
Based in Toronto, Iwachiw will report directly to Stacey Madge, President and Country Manager of Visa Canada, as well as Dan Sanford, Head of Regional Product Solutions for North America.
Over his eleven years at Visa, Iwachiw has held various positions encompassing consulting and analytics, strategy and operations, business development, and financial partnerships. Additionally, he serves as the Executive Chair for the Visa Canada Employee Engagement Committee. Prior to his time at Visa, Iwachiw spent eleven years at American Express Canada.
Iwachiw’s appointment aligns with Visa and other card companies’ efforts to enhance rewards and loyalty programs for cardholders.
Among the companies striving to be the preferred choice for cardholders are Chase and Amazon, which jointly introduced new rewards and cash-back incentives for Amazon Visa cardholders. These offerings, launched on May 1st with updated names and card designs, are known as the “Prime Visa” and “Amazon Visa.” Amazon stated that “Prime Visa and Amazon Visa cardmembers can now earn 5% back and 3% back, respectively, on purchases made through Chase Travel, Chase’s new and improved travel booking platform.”
Payment facilitators are also exploring opportunities for expansion.
For instance, Bill Dobbins, Senior Vice President and Head of Acquiring at Visa, highlighted the potential to transform payment processes in economies where payment acceptance and facilitation are not yet established. He referred to these emerging markets as “blue oceans.” These markets have emerged in recent years as interconnected ecosystems have connected daily activities and created avenues for companies to integrate payment solutions.
Regarding these markets, Dobbins noted, “These are segments with trillions of dollars of spending. I think about rent and loan payments and healthcare home services as verticals where there are still opportunities for PayFacs to drive change, add value, and secure a large share of the total payments pie.”
Source: PYMNTS
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