Former MasterCard Vice President of Product Development in MasterCard’s Installments business Olaseni Alabede has been appointed by Global Technology Partners (GTP), an MFS Africa company, as chief technology officer (CTO).
Acquired by MFS Africa in June 2022, the US-based GTP is the largest processor of prepaid cards in Africa, with more than 80 banks – including UBA, Ecobank, BIA, Stanbic, Coris, NSIA and Zenith Bank – using its platform.
According to GTP CEO, Christian Bwakira, “We are thrilled to have Olaseni come on board as the new CTO for GTP. His extensive experience in both the African and international payments spaces and his clear passion for technology’s ability to improve people’s lives and help build better futures makes him the ideal person to drive us forward technologically.”
Alabede was the Vice President of Product Development in MasterCard’s Installments business in New York where he was responsible for the design and development of Buy-Now-Pay-later products on the Mastercard network. He began his career in 2003 as a web designer at the now-defunct City Express Bank in Nigeria. After that, he spent nearly a decade at Interswitch, growing from a project engineer to head of enterprise service management.
For his part, Alabede says that he is looking forward to taking charge not just of GTP’s technology stack, but the entire technology initiative behind the company and drive a strategy that enhances the company’s already strong positioning.
“Right now, GTP provides a quality service that customers know and love it for,” he says. “But can we take that to the next level?”
The decision to join GTP, he says, was made primarily on the basis of the impact he believes the company, particularly under MFS Africa’s ownership, can have. “When you think about what MFS Africa and GTP have done in the African market, that impact is significant,” he says. “I want to be part of taking that further, helping more and more markets replace the need for cash by using seamless technology that integrates our various offerings.”
In helping GTP achieve that impact, Alabede plans to focus on seamless customer experiences as he considers the elimination of friction in payments particularly critical.
“The more friction you remove from the consumer, the more they get out of their payments,” he says.
More particularly, he believes that there will be significant innovation around bringing these technological trends together and that African companies and consumers will benefit from them.
“I think that last mile delivery of frictionless payments and experiences is really going to translate into success,” he says. “As such, we can expect to see a lot of innovation and technological convergence happening in building those frictionless experiences.”
Outside of work, Alabede is passionate about promoting health in underserved communities. He serves on the Board of the Arthur Ashe Institute for Urban Health which provides health education and health equality in the Brooklyn Community and other parts of New York City.