ALPHARETTA, GA. — BluePenguin, a fintech company disrupting the B2B virtual payments market, announced today the appointment of Jake Sterling to the position of Chief Product Officer. Sterling’s appointment adds yet more depth to a team of industry experts who collectively have more than 130 years of payments industry experience.
“B2B virtual payments are still at very low penetration and adoption rates. Disruptive products that maximize access and simplify implementation will be winners in the market. That’s why we are so fortunate to continue to attract best-in-market talent for the mission we are on,” said Steve Boyer, Chairman and CEO of BluePenguin. “Jake will help us immeasurably by helping us to deliver solutions that serve today’s needs while anticipating and shaping a future of frictionless virtual payments for buyers, sellers and partners alike.”
Sterling’s 25 years of payments experience has taken him around the world, and has included card brand, e-commerce, loyalty, omnichannel and data product leadership positions at MasterCard, First Data, Maritz, CyberSource (now Visa) and Vantiv (now Worldpay/FIS). Most recently, Sterling led corporate payments strategy for commercial prepaid programs at Xerox Card Services (now Conduent Business Services).
In addition to his work and leadership experience, Sterling also holds multiple patents for inventions relating to transaction processing, intelligent routing, secure commerce, localization, currency conversion and other financial solutions. He holds honors degrees in foreign languages and engineering from Washington University in St. Louis.
“It’s rare to have the opportunity to join such a seasoned team—including people who invented the first electronic gift cards—in an industry segment with so much opportunity for innovation and growth,” said Sterling. “We’ve designed our platform from scratch to deliver customer solutions to market quickly and I am beyond excited about where we plan to go.”
BluePenguin launched in 2018 with the goal to democratize the massive B2B payments market, which has historically been dominated by legacy systems that are difficult to integrate and slow to adapt. Thanks to BluePenguin’s agile and proprietary platform, the company is bringing the power of B2B virtual payments to underserved customers through their own technologies and trusted business relationships. BluePenguin is located in Alpharetta, Georgia.
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