Business
Priceless Banga
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MasterCard Inc has elevated Ajay Banga to chief executive officer, just 10 months after recruiting him from Citigroup as president and chief operating officer.
Banga, 50, a graduate of Delhi University and the Indian Institute of Management in Ahmedabad, will assume the top position on July 1. Credit card companies Visa and Mastercard are on a tear as consumers increasingly shift from paper to plastic. Last year card transactions exceeded paper transactions for the first time and in three years electronic payments are expected to rise to almost $6 trillion |
