"Varghese's blend of both financial services and technology expertise, as well as his recent leadership position at Mastercard make him the perfect candidate for this role, working closely with our customers to ensure their success," said mx51 CEO and co-founder Victor Zheng.

"Talent continues to be in short supply for the fintech sector. But we're pleased that mx51's mission and growth trajectory continues to draw in candidates like Varghese, who will prove instrumental in further growing our business."

Mathew brings a decade of experience in financial services and technology to mx51.

He most recently worked as vice president at Mastercard, and was previously managing consultant at Mastercard Advisors, consultant with Boston Consulting Group, and business development manager at Altron, following a six-year stint in systems engineering and sales at Cisco.

Mathew holds an honours degree in electronic and telecommunications engineering from the University of Pretoria, and an MBA from Columbia Business School.

"It's a pleasure to work with Victor, Magnus and Steven to take mx51 to the next level. My role essentially supports the substantial growth the company has seen in the past year, working closely with our major customers to ensure their success and keep them one step ahead of the escalating disruption in the global payment industry," said Matthew.

"Fintech is on the cusp of yet another great shift, with global companies that were once only payment businesses moving aggressively into traditional banking services such as lending. With so much change happening both in Australia and abroad, it's an exciting time to be on the coalface of this disruption within the payments sector."