Volante Modifies its Own Mobile Payments Leadership Team
Is it the season for board shakeups at mobile payments firms? Not long ago, we heard about Paysafe making some changes on its board, and now, Volante has tipped us off about a few changes of its own. With a new non-executive board member and a new Executive in Residence, the company is looking to reposition itself to push forward for success in a rapidly changing market.
Volante added The Boston Consulting Group’s David Mark to its board. Mark serves as senior partner and managing director therein, and has spent the last few years now working with clients on several new technology releases like cloud computing, blockchain and big data analytics. The former chief strategy officer at Flex, he’s also formerly a senior partner with McKinsey and Co., making him a good bet for a mobile payments firm.
Meanwhile, one more addition came in, as Harpreet Grewal was put in place as Executive in Residence. Grewal—known at the offices as “Harp”—has been on the company’s board of directors for some time now. The new position is an additional duty for Grewal, who currently serves on several boards of directors, including Penumbra currently. Grewal was previously Constant Contact’s chief financial officer and its general manager as well, and was also CFO for Cimpress. He even served several roles with PepsiCo, as part of its strategy arms.
There’s no doubt that Volante has a lot of competition, particularly in the US. While it’s got to face down several mobile payments firms, including some of the biggest from mobile device manufacturers as well as a growing slate of banks, it has one more major opponent to tackle: user apathy. Particularly in the US, mobile payments aren’t exactly doing so well because cash is still king. Trying to drive new users into a platform that has several competitive alternatives—and where one of those alternatives has been king for decades—is no easy feat.
Volante has its work cut out for it, trying to advance to any degree a market that really isn’t all that interested in anything but slow, incremental advancement. With the new augmentations to its top-level, however, it may have the necessary strategic insights to push forward a market that is, at best, quiet.