Payment services provider PayU is bringing on former PayPal senior director Matthias Setzer as global chief commercial officer.
Setzer will join the firm’s German operation having spent 12 years at PayPal.
He most-recently held the role of senior director of strategic partnerships and business development for the EMEA region at the online payments giant.
Prior to PayPal he worked at Lycos Europe and Bertelsmann.
Taking over as CCO Setzer will lead PayU’s global sales efforts and manage business development and strategic acquisitions.
He will also help the firm expand its credit strategy across its key markets.
Owned by South African multinational, PayU operates across 16 high-growth markets around Asia, Central and eastern Europe, Latin American, the Middle East and Africa.
It claims to serve more than 200,000 merchant worldwide and 10 million consumers.
PayU recently acquired Indian payments and mobile banking service Citrus Pay for $180m.
As part of the CCO role Setzer will act as a sponsor for the company’s Global Layer, which aims to bring next-generation API technology to global merchants.
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