At a time when regulatory changes come thick and fast, strong communication channels between FinTech companies and regulatory bodies are crucial for successful innovation.
Visa is clearly trying to navigate the unpredictable waters of government relations by appointing former Acting US Trade Representative Demetrios Marantis as senior vice president, Global Government Relations.
Marantis previously worked at the unicorn startup Square, where he was in charge of global policy, government, and regulatory affairs.
Marantis will report directly to William Sheedy, executive vice president, Corporate Strategy, M&A, and Government Relations. He will be responsible for all facets of Visa’s government relations activities, with an emphasis on partnering with government officials around the world to advance policies to foster the growth of electronic payments.
“Electronic payments around the globe are innovating and expanding at unprecedented levels, which is why Visa is investing in our leadership to work even more closely with governments to partner on the deployment of Visa’s capabilities and services,” said Sheedy.
He went on to say how Marantis’s industry experience will help the company advance “electronic payments across a broad spectrum of needs in the many markets in which Visa operates”.
Prior to joining Square in May 2013, Marantis served as Acting United States Trade Representative and Deputy United States Trade Representative. Marantis was nominated for his position by President Barack Obama and confirmed by the U.S. Senate on May 6, 2009. In that role he was responsible for trade negotiations and enforcement in Asia and Africa, including the Trans-Pacific Partnership (TPP), and the Asia Pacific Economic Cooperation (APEC) Forum.
“I’m honored to join Visa at an incredible time in this dynamic industry. The payments ecosystem is rapidly changing, and I am excited to be part of an organization leading the conversation about digital payments in an increasingly mobile world, both in the United States and globally,” said Marantis.
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