Atlanta – Ingo Money announced the addition of Dickson Chu as Executive Vice President, Corporate Development and Chief Product Officer. In this role, he will lead the company’s strategic corporate development efforts and oversee the evolution and development of Ingo Money’s product roadmap and user experience. The company is a provider of recurring, instantaneous, guaranteed funds technologies for financial institutions, prepaid card providers and digital wallet platforms.
Chu brings over 25 years of leadership experience in financial services technology, digital payments and marketplace innovation. An accomplished general manager and innovator, Chu most recently served as investor and active advisor to a number of emerging companies. Previously, Chu served as senior vice president, Merchant Solutions at LivingSocial, evolving the company’s strategy to create a new merchant-focused business line. He also spent nearly two years at Citi as managing director, Digital Networks in the Global Enterprise Payments business unit, responsible for the development of global e-commerce and m-commerce capabilities, as well as the development and launch of Citi’s Google Wallet platform. Before joining Citi, Chu spent six years at PayPal, most recently serving as vice president and head of Global Products and Experience. In this role he led product strategy, development and user experience design for millions of consumers and merchant customers, having previously served as global general manager for PayPal’s Global Merchant Services business, which he helped grow from $60MM to more than $1 billion.
“Dickson’s diverse strategic, technical and business leadership experience and his depth of knowledge and relationships in the payments industry make him ideally suited to join Ingo Money as chief product officer and head of corporate development,” said Drew Edwards, founder and CEO, Ingo Money. “With our exceptional executive leadership team, Ingo Money is poised to deliver on its mission to transform the payments industry and extend innovative account funding, money movement and payments capabilities for the benefit of all consumers and small business operators who need and value immediate and reliable access to their money.”
Prior to PayPal, Chu served as general manager for Yahoo! PayDirect where he transformed the domestic P2P business into an Internet-based international money transfer service in partnership with MoneyGram. Chu also held various senior management roles at I-Impact, an Internet-based predictive analytics start-up founded in Tel Aviv; Wells Fargo, leading a team to create new retail banking products; and CSC Index, the inventors of Business Reengineering.
“Ingo represents the next evolution in financial services with its omni-channel, all digital approach to providing ubiquitous ‘good funds’ capabilities to consumers and financial services providers,” said Chu. “The company’s mission to redefine how financial services are delivered to the mass consumer segment is inspiring, reminiscent of the early days at PayPal Merchant Services where we sought to enable small businesses to conduct business on the Internet with safe payment options at a fair price. I have had the privilege of working at terrific companies with great teams and I feel right at home with the incredibly talented team I am joining at Ingo Money.”
Chu will work from a new Ingo Money office opening in the San Francisco Bay Area later this summer, which will serve as the company’s hub for corporate development, product development, customer experience and marketing functions. Lisa McFarland, executive vice president, Product Strategy and chief marketing officer, will relocate to the west coast and join Chu in staffing and leading these functions for Ingo Money. The opening of the Bay Area office will provide the company with access to unparalleled talent and a culture conducive to delivering world-class client servicing platforms and customer experience.
Ingo Money also announced the promotion of Matthew Frye to Executive Vice President, Business Development. In this role, he will be responsible for management and oversight of all of the company’s sales efforts for both its Network Solutions and Enterprise Solutions business lines. Frye joined Ingo Money six months ago as senior vice president of Sales, Ingo Network Solutions.
About Ingo Money
Ingo Money, Inc. facilitates the acceptance of consumer funds from a variety of monetary instruments to originate immediate, non-provisional funding for bank accounts, payment cards and mobile wallets. The only technology solution of its kind in the marketplace, Ingo Money services are essential to providing a convenient source of recurring funds for any payment platform to fuel the consumer adoption of new and existing digital payments. The instantaneous and non-provisional nature of Ingo Money funding transactions means that, regardless of their source, deposited funds are “Good Funds,” available to spend by the account or mobile wallet owner in minutes without risk of future reversal.
Ingo Money owns and operates two lines of business. Ingo Money Network™, operated in conjunction with First Century Bank, N.A., is a consumer-direct mobile remote deposit capture network accessible on iOS and Android devices via mobile application and embedded SDK. Ingo Enterprise™, a commercial white label solution, enables banks and alternative financial services (AFS) providers to make immediate, non-provisional “Good Funds” available to their customers. Today, nearly three million consumers have used the company’s technology to access “Good Funds” from thousands of bank branches and AFS locations, ATMs, kiosks and mobile devices across the United States.
Headquartered in Roswell, Ga. (and operating a data center and two risk management centers in Georgia), Ingo Money serves many of the largest financial institutions, AFS providers and payment networks as clients.