Barry McCarthy serves as executive vice president and head of Consumer and Network Solutions (CNS). �CNS includes:� the STAR� debit network, the third-largest debit network in the US; Money Network�, the largest prepaid payroll solution in the US; Gift Card and Advanced Marketing Solutions the largest pre-paid business supporting over 2 billion active store-branded prepaid cards; GYFT (gyft.com), a recent First Data acquisition and the largest prepaid mobile wallet; and TeleCheck�, the largest check guarantee solution which helps merchants safely accept checks at the point-of-sale.Prior to his current role, McCarthy was responsible for the turn-around of the Financial Services business that had been in revenue and EBITDA decline for more than 7 years.� In less than 2 years, he moved the business from the company�s worst performing unit, to its best.� Revenue growth moved from -4% to +8%, total profitability increased 51%, while margin improved from 40% to 52% (1200 basis point improvement).� He also provided leadership for the company�s historic collaboration with Apple on Apple Pay.Earlier, McCarthy was responsible the company�s entire relationship and P&L with all US financial institutions, and previously had responsibility for First Data�s Asia-Pacific merchant business, overseeing a $900 million P&L for the company�s ventures serving India, China, Hong Kong, Singapore, Korea and Australia.Joining First Data in 2004 as head of the merchant product organization, McCarthy�s responsibilities were expanded to ultimately include global product management and several new businesses.. During this tenure, he created and launched innovative products and services that have generated more than $1 billion in revenue including eCommerce, mobile/social, data analytics and point-of-sale terminal solutions.�Prior to joining First Data, he was responsible for the turn-around of the payments business at VeriSign (NASDAQ: VRSN), now owned by eBay/PayPal (NASDAQ: EBAY). He also co-founded MagnaCash, a Silicon Valley-based micropayments company that provided a check-out system similar to iTunes.� Through subsequent transactions that business is now owned by Digital River (NASDAQ: DRV).McCarthy started his career at Procter & Gamble (NYSE: PG), where he spent 12 years in sales, regional and national sales management, customer marketing and brand management roles. He was responsible for the national introduction of dozens of new products for the Oil of Olay�, Secret�, Sure�, Old Spice� and Bain de Soleil� brands. McCarthy first entered the payments technology industry at Wells Fargo (NYSE: WFC), where he was responsible for the 14 million card and 6,500 ATM business.He is the 2015 Chairman of the Technology Association of Georgia (TAG), the nation�s largest technology association with more than 27,000 members. He served as Chairman of the state-wide Georgia Technology Summit (GTS) in both 2013 and 2014, and currently serves on the boards of Junior Achievement of Georgia, and Catholic Charities of Atlanta.�He has also served on multiple corporate and joint venture boards globally including Merchant Solutions (Singapore), ICICI Merchant Solutions (Mumbai), Merchant Link (Washington, DC), PNC Merchant Solutions (Pittsburgh), and non-executive Chairman of eSurg.com (Seattle), an e-Commerce medical supply company, which was acquired by Henry Schein Corporation (NASDAQ: HSIC).� McCarthy earned his master�s in business administration from the Kellogg School of Management at Northwestern University, and resides in metro Atlanta.
Like what you see? Make sure you're getting it all
Authoritative coverage, data and analysis of deals across structured finance markets