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Marcello Baricordi and the Rise of a Cashless MENA

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The Middle East and North Africa (MENA) landscape has witnessed the most wonderful change in its digital payment ecosystem, with the centre of this evolution being none other than Marcello Baricordi, the General Manager for Visa across the region. Under his visionary leadership, Visa not only learned to keep pace with the ever-changing financial environment but also led by example with innovation and inclusivity benchmarks. With his deep understanding of the economic dynamics of the region, Baricordi has turned Visa into a critical growth enabler, ensuring millions of merchants and consumers enjoy seamless digital payment experiences.

Marcello Baricordi joined Visa at the company’s most crucial juncture as digital payments were gaining traction in the MENA region. Between 2018 and 2019, he led a remarkable 60% growth in merchant adoption of digital payment solutions, growing the number of merchants from 750,000 to 1.2 million. This fast growth demonstrated strategic focus on building partnerships and using technology to support merchants in adopting digital payment systems. Ensuring safe and efficient solutions to diversified business needs from small vendors and large enterprises alike, Baricordi ensured that Visa continued in its role as the backbone for digital payments in the region. His efforts, of course, improved ease of doing business but helped to facilitate the shift towards a cashless economy in the region.

With COVID-19 pandemic disrupting the economies of the world, Baricordi leadership really stood out as a shining beacon of resilience and adaptability. Visa committed to global initiatives worth $210 million recognizing an urgent need for small and micro businesses. This comprises emergency relief of $10 million, along with $200 million devoted towards fostering small business growth and women’s economic empowerment in the next five years.

In MENA, Baricordi made sure Visa played an active role in helping local economies navigate the challenges of the pandemic. Enabling more merchants to accept digital payments, Visa helped reduce the economic fallout for countless businesses, empowering them to continue operations despite unprecedented restrictions.

Baricordi’s strategy extends beyond increasing merchant adoption of digital payments. His focus on empowering small and micro enterprises reflects Visa’s commitment to inclusivity and economic growth. Through initiatives such as funding, training programs, and digital transformation support, Baricordi has worked to bridge the gap between traditional businesses and the digital economy.

His leadership has been instrumental in championing the role of women entrepreneurs in MENA. Visa’s investments in women’s economic advancement aim to break barriers and create equal opportunities, aligning with global and regional goals of sustainable development.

In a region embracing technology, Baricordi has set Visa at the forefront of secure and innovative digital payments. From contactless to advanced fraud prevention technologies, Visa has always led in innovation under the guidance of Baricordi. These innovations will improve consumer experience while engendering trust among businesses and customers for long-term growth in the digital payments ecosystem.

Marcello Baricordi, an Italian, is also well-exposed globally, and this makes his leadership a very unique perspective. He manages 200 employees in Visa’s MENA operations and encourages collaboration, innovation, and excellence. Understanding the complexities of the MENA markets has made him a trusted figure in the industry. His vision aligns with the mission of Visa, connecting the world through the most innovative, reliable, and secure payment network.

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