Visa Canada Appoints Sam Fuda to Head Commercial and Money Movement

Visa Canada has announced the appointment of Sam Fuda as the new vice president, head of commercial and money movement (CMS), Canada.

Fuda succeeds Jim Filice in this role, Visa Canada said in a press release emailed to PYMNTS.

With this appointment, Fuda will lead the market strategy, product development and sales across various areas, including money movement, commercial, real-time payments and open banking, according to the release.

"He will also be responsible for developing and building our external reputation for commercial and money movement, leading overall CMS performance for Canada including revenue, AANR [average annual net revenue] and further evolving the ecosystem," Visa Canada said in the release.

Fuda brings over 20 years of experience in the financial services industry, according to the press release.

Before his new role, Fuda held the position of vice president, financial partnerships at Visa, the release said.

"While he was responsible for leading Visa's account team and overseeing the Canadian Imperial Bank of Commerce (CIBC) relationship, he developed expertise in Visa's emerging money movement business and established CIBC as one of Visa's critical relationships in the space," Visa Canada said in the release.

Fuda's particular focus on payments and proven track record of driving results and implementing growth strategies make him well-suited to lead Visa Canada's commercial and money movement initiatives, the release said. Fuda's analytical thinking and problem-solving abilities further enhance his ability to shape the company's future in these sectors.

As the new vice president, Fuda will become a member of the Canada Leadership Team and the North America Commercial and Money Movement Solution teams, the release said. He will report directly to Yanilsa Gonzalez-Ore, senior vice president of Visa Direct NA and Global Ecosystem. He will have a dual report to Stacey Madge, senior vice president, president and country manager and Veronica Fernandez, senior vice president, head of NA CMS.

During an April earnings call, Visa CEO Ryan McInerney highlighted cross-border money movement and said that Visa B2B Connect — the payment firm's non-card-based payment network that enables bank-to-bank cross-border business transactions — continues to gain momentum. Management commentary on the call said that through the previous six months, Visa signed roughly 30 banks across 20 countries.

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