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Tech visionFebruary 1 2013

MasterCard makes innovation pay

The breadth of MasterCard's portfolio of payment solutions would have been unimaginable when the president of global technology and operations at MasterCard Technologies, Robert Reeg, started his career, but with 85% of global transactions still in cash, he explains the importance of pressing ahead with yet more innovation.
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MasterCard makes innovation pay

When Robert Reeg started his career in IT 35 years ago, the industry, he says, was avant-garde. It was also highly lucrative for a mathematics graduate. Mr Reeg was offered $100 a month more to train as a software programmer at an oil company than he was to take on a position as an army officer, a career he was also considering. “So for $100 a month more, I got into IT,” he says, laughing.

Mr Reeg may have initially entered the IT industry for economic reasons but with a degree in mathematics it was also a good fit. He entered the payments market after a few stints at non-financial companies, including US network operator Sprint where he was senior director. After about six-and-a-half years at Sprint, a former boss who was working for MasterCard approached him.

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