Visa has announced two senior leadership changes in the Asia Pacific region, with Chris Clark promoted to Chairman, Asia Pacific and Stephen Karpin stepping in to succeed him as Regional President, Asia Pacific.

Effective from 1 April, Clark will take on the responsibilities of supporting regional and global strategies with government and industry stakeholders, directing the company’s market expansion plans and continuing in his role as non-Executive Director of the Visa Europe Board.

“Over the last ten years as Regional President for Visa Asia Pacific, I have been committed to expanding the reach of electronic payments and growing our business by forging strong client and partner relationships, driving digital innovation in the regional payments ecosystem and building new partnerships with established and start-up fintechs, all supported by an amazing team of great payments professionals,” he said.

“I am excited to step into this new role, and I know that Stephen is the right person to drive strong growth for the business of all our clients and partners.”

Based in Visa’s regional headquarters in Singapore, Karpin will lead the full business operations, client management and go-to-market plans for the APAC region and brings extensive experience in the payments industry and APAC markets.

He commenced at Visa as Group Country Manager Australia, New Zealand and South Pacific, before being appointed as Group Country Manager, Regional Southeast Asia three years later and Country Manager, Japan two years after that.

“In his 20-year career at Visa, Chris has shown exemplary leadership, more than doubling the size of our Asia Pacific business.  In addition to his expansive business aptitude, Chris is known for his deep commitment to our clients and teams across our markets,” he said.

“I look forward to following the path he has set, continuing to work closely with our clients and partners, expanding our relationships and ensuring that Visa Asia Pacific remains among the best places to work and achieve.”