The senior executive, who has a track record of strategic and operational leadership and deep global payments expertise, will lead the electronic payment service provider's next phase of growth.
Singapore's Network for Electronic Transfers (NETS) has appointed Lawrence Chan as chief executive officer, the company announced on Monday. He was appointed after an extensive internal and external executive search initiated by the company's Board of Directors to identify and select a permanent CEO, the announcement said.
Chan brings more than two decades of experience in the payments industry and joins from Visa, where he was vice president of regional client management for Asia Pacific and managed regional acquirers/merchants, co-brands and Visa Direct.
He was previously PayPal's vice president and general manager for Japan and Southeast Asia and was based in Japan, where he led American Express's merchant business before returning to Singapore to become senior vice president, global payment options, Asia Pacific.
Fintech Ambitions
Established in 1985 by a consortium of local banks to establish the debit network and drive the adoption of electronic payments in Singapore, NETS now operates an extensive product suite across merchant and consumer ecosystems, including EFTPOS, NETS Click, FAST/PayNow, NETS QR, stored value cards and more.
The firm said it will continue expanding strategically into the digital commerce space with «new and innovative payments solutions» covering both offline and online e-commerce transactions.
