Paysafe, a leading global payments provider, today announced the appointment, with immediate effect, of Karim Ahmad to the newly created role of Chief Product and Transformation Officer.  The new executive role reflects Paysafe’s intensified investment in extending its products and capabilities via an integrated, global payments platform as well as its ongoing strategic drive to transform and grow its business.  Meanwhile, Daniel Kornitzer, who previously held the role of Chief Product Officer, has been named Chief Business Development Officer.  Both executives report directly into President and CEO, Joel Leonoff.

With an international career spanning over 20 years, and deep expertise in payments and financial services, Ahmad brings extensive and highly relevant experience to the role.  He previously held the role of EVP, Global Product and Innovation for TSYS, a U.S. based company offering solutions across the payments spectrum.  In this role he was instrumental in over-hauling the organisation’s approach to product delivery.

In the newly created Chief Business Development role, Kornitzer has responsibility for identifying and securing innovative strategic partnerships, designed to meet the evolving needs of Paysafe’s customers in targeted markets and grow new revenues.  He will also play an instrumental role in Paysafe’s M&A activity.

Commenting on the appointments, Joel Leonoff, President and CEO of Paysafe, said: “The investment in these roles creates further momentum behind our growth strategy.  Karim is highly regarded in the international payments industry and I’m confident he will be a strong asset to Paysafe as we seek to extend our products and capabilities and disrupt the status quo in payments.” 

Leonoff added: “I also think Daniel is an ideal fit for our new strategic business development role.  His vast knowledge of our customers’ needs, combined with his firm grasp of global industry trends in the payments sector, is second to none.  During my time working with him, I have recognised his first-rate ability to identify relevant growth opportunities.”

Karim Ahmad added: “I’m delighted to be joining Paysafe at such an exciting time.  Over my career, I have designed numerous new strategies that have helped businesses achieve their growth ambitions.  I can see enormous opportunities for Paysafe based on the assets that have been acquired and built under the leadership of Joel and I very much look forward to the challenge of my new role.”

Karim Ahmad biography:

Karim Ahmad is Chief Product and Transformation Officer for Paysafe.

With an international career spanning over 20 years, and deep expertise in payments and financial services, Ahmad brings extensive and highly relevant experience to the role.  He previously held the role of EVP, Global Product and Innovation for TSYS, a U.S. based company offering solutions across the payments spectrum, from issuer processing and merchant acquiring to prepaid program management.  In this role he was instrumental in over-hauling the organisation’s approach to product delivery.

Before that, he was Bain & Company’s Global Leader in Payments, Financial Services and Performance Improvement practices.  During his time in this role, he was credited with implementing numerous, strategic initiatives and growth strategies for his high-profile clients in the payments industry.

In his early career, he worked as an Investment Officer for the International Finance Corporation (IFC), a member of the World Bank Group providing debt and equity financing and advisory services to private countries in developing countries.  During his time with the IFC, he was based in both Russia and Belarus.

Ahmad holds a Bachelor’s degree in History and Economics from Vassar College, Poughkeepsie, NY, and a Master’s degree in Russian and Soviet History from Columbia University.  He also completed a Master’s of Business Administration from the University of Virginia in 2003.

Daniel Kornitzer biography:

Daniel is Chief Business Development Officer for Paysafe.  In this role, he is responsible for developing strategic partnerships for Paysafe designed to meet customer needs and grow new revenues.  He is also a decision maker in Paysafe M&A activities.

Before starting his current role in April 2018, Daniel served as Paysafe’s EVP and Chief Product Officer.  Prior to re-joining the Group in 2014, he was CEO and Board Member of SiteSell.com.

In his 20+ years in technology management, Daniel has pioneered ground breaking initiatives, from one of the world’s first over-the-phone speech recognition systems and the ISO/ITU standards for video coding in use today, to FirePay’s digital wallet and industry-leading risk management processes.  This latter role resulted in his subsequent appointment as a member of the NACHA Risk Management Task Force.

With deep knowledge of customer needs, and a profound understanding of the global payments industry in general, Daniel is also a well-regarded and active payments commentator and speaks regularly at industry events.  He also sits alongside other industry visionaries a member of the advisory panel for Shyft, a leading blockchain network for the global economy.

Daniel holds a B.Eng in electrical engineering from Ecole Polytechnique of Montreal; a M. Eng from McGill University and a diploma in network engineering from the University of Toronto.