Jim McCarthy Takes the Helm as CEO of Thredd

Published 9 months ago
  Thredd

In an immediate shift, Thredd’s ‘next-gen’ issuer payments platform has announced Jim McCarthy as the successor to the outgoing CEO, Kevin Schultz. Schultz’s retirement is set to occur later this year.

An Experienced Hand at the Wheel

McCarthy, a highly regarded figure in the payments sector with over three decades of experience, is based at Thredd’s global headquarters in London. His impressive work record includes an 18-year tenure at Visa, where he held senior roles across various departments such as sales, risk and authentication, consumer credit, digital products, and product innovation. McCarthy came onboard Thredd as the Executive Vice President - Global Head of Product and Sales in January 2023. Prior to this, he served as President of i2c Inc, a US-based payments processor, where he led the company to record growth.

Contributions to Visa and Thredd’s Future

During his time at Visa, McCarthy was crucial in the development of Visa’s product and technology roadmap and innovation efforts. He also led business development for strategic partnerships. His notable initiatives include introducing 3D Secure and Visa Token Service, which have since become industry standards. His efforts also contributed to the launch of Apple Pay.

Reflections on Leadership Transition

Kevin Schultz expressed pride in Thredd’s accomplishments during his tenure. He believes that with McCarthy at the helm and the backing of committed owners, Thredd is well-positioned for the next phase of growth.

Gene Lockhart, Thredd Board Chairman, praised McCarthy as an extraordinary leader in the global payments sector. He thanked Schultz for his significant contributions to Thredd as CEO and his key role in the company’s success and transformation.

Thredd’s Future under McCarthy’s Leadership

McCarthy expressed his eagerness to take on the role of CEO at Thredd, appreciating the impressive team and offering at Thredd. He emphasized that innovation is the lifeblood of any payments business, and he is excited to continue delivering for Thredd’s clients with new product development centered around the clients’ needs.

Since receiving investment from Advent International, Viking, Temasek, and Mission OG in late 2021, Thredd has been focused on transforming the organisation for future growth. The company is preparing to launch a US product line and has had notable success in the Asia-Pacific market after expanding from its UK and European roots.