The payments technology firm, which boasts some of the most prestigious partners in fintech, has unveiled significant changes to its senior management.
Earlier this year, GPS said it had issued over 190 million physical and virtual cards so far, and that last year it processed more than 1.3 billion transactions.
Schultz most recently served as Fiserv’s group president of digital banking.
Prior to Fiserv, Schultz served as president, global financial services, at First Data, following nearly 16 years at Visa, where he built out its debit processing business, Visa DPS.
Joanne Dewar was also promoted to the role of vice chair and is set to continue in her current role on the board.
Previously, Dewar held the role of CEO at GPS for over four years.
GPS said that Dewar “was instrumental in scaling the company” and was a key part of its success at raising investment.
Dewar will continue to work alongside GPS’s chair, Gene Lockhart, in the newly created Office of the Chair.
GPS certainly isn’t short of money to pay these senior executives with.
The company closed off a $400m funding round in January, with investors including Singapore’s Temasek and US firm MissionOG.
The capital was earmarked for growing its business, more specifically in Europe and Asia Pacific, as well as in emerging markets in the Middle East and Africa.
Dewar said that Schultz’s track record and experience will be a huge asset to the GPS business and its customers, and that her new role will enable her to expand the business’s footprint via raising its profile and building its global network.
“Together with Gene, I am convinced that we have a winning combination which will accelerate the ability of GPS to reach its true potential,” said Joanna.
Gene Lockhart said that with Kevin as CEO GPS’s leadership team “now has a unique and powerful blend of industry, market and leadership experience which will help us to accelerate the company’s growth”.