Optal, a world leader in optimising B2B transactions, is delighted to announce the appointment of Carey McLaren as its new Regional Director of Business Development for APAC, in a move which will help drive growth for the company in the region.
McLaren brings with him more than two decades of experience working in the regional expense management and payments space. This includes stints at American Express, where he managed business development for the Foreign Exchange business for three years, and SaaS payments innovator Fraedom which was recently purchased by Visa.
At Optal, McLaren’s attention will be on growing the Invapay business — working with partner banks to encourage them to sign clients up to the innovative payments service. Acquired by Optal in March 2017, Invapay enables organisations to use credit cards to pay suppliers who historically have not accepted card payments.
The main focus will be in the working capital space facilitating high value recurring transactions such as tax, commercial rent, sub-contractor payments and high value goods for resale like mobile phones. The Invapay platform means that card payments can be made to those suppliers, which are not card capable and ensures commercial card credit lines are maximised and suppliers are onboarded quickly.
McLaren will also work on Optal’s flagship Virtual Account Number (VAN) solution strategy. VANs are 16-digit, single use card numbers backed by the Mastercard network that can be used to pay regular or one-off suppliers quickly, easily, securely and at low cost.
“Businesses across the region are crying out for optimised B2B payments to reduce costs, security and fraud risks, and streamline inefficient legacy processes,” says Andrew Watson, Head of Working Capital Solutions. “We’re delighted to welcome Carey to the Optal team. We have a rapidly-growing business in APAC, with four banking partners in Australia alone, and have a huge opportunity to change the way regional businesses think about supplier payments.”