Mastercard Recruits Former UK Cyber Spy as Advisor

Global payments powerhouse Mastercard has brought on board Sir Jeremy Fleming, a past leader of the UK’s cyber intelligence agency GCHQ, as an advisor. Fleming, who also recently took on the role of chair for investment group Gallos, has an extensive background in cybersecurity. His distinguished career includes leading GCHQ’s response to various terror and cyber-attacks, as well as serving as a former MI5 officer.

Mastercard’s Shift to Cybersecurity

Mastercard, much like its competitor Visa, has been gradually shifting its focus towards the cybersecurity sector in recent years. This move comes as competition in its core payments business continues to intensify. Commenting on the company’s increased investment in cybersecurity, Ajay Bhalla, president of Cyber & Intelligence at Mastercard, stated that over the past five years, “we’ve invested $7bn into cybersecurity capabilities, building on our efforts to help shape and evolve industry standards related to these foundational protections.”

Fleming’s Role at Mastercard

In his new role, Fleming will be tasked with helping to shape Mastercard’s strategy in the areas of cyber, intelligence, and security. Beyond this, he will also contribute to public policy initiatives. Bhalla expressed the company’s anticipation of working with Fleming, stating, “We look forward to working with Jeremy as we push into new technologies and solutions that enhance safe, secure and frictionless interactions for our customers and partners.”