Executive VP of technology, Visa
Career: Executive VP and CTO, Electronic Arts Inc; corporate VP, commerce division, Microsoft
Education: BE at Jadavpur University; MBA at Washington State University
Q. Tell us about your new centre in Bengaluru.
The way we have been investing in technology is by hiring the best talent from all over the world and investing in our own people. Our technology hubs have traditionally been in the US, and we have one in Singapore too. But a year-and-a-half ago, we started thinking about how we are at the beginning of a very important transformation in the industry as analog becomes digital, and digital and mobile payments become the predominant way for commerce. We picked India as our next big hub because we are very impressed with the talent and quality of engineering here.
Q. What sort of research and development will be conducted at the centre?
What they’re working on are a couple of big areas. One of them is investments and innovations in digital and mobile commerce. They’ll also be looking at opening our network to development by the ecosystem [by which Visa partners can use its infrastructure and network]. In the last 57 years, ours has been a protected network. Access to it has been very carefully prescribed.
Q. How will the Visa network be opened?
Last year, we did $7 trillion in processing volume and 100 billion transactions. It’s been a fantastic model. We want to preserve that, but also open up our functionality into standard services that can be expressed to our partners—banks, merchants, and partners like Apple, Google, Samsung and Facebook. They can then start innovating with their ideas for their market by leveraging the underlying structure that Visa has built.
(This story appears in the 02 October, 2015 issue of Forbes India. To visit our Archives, click here.)