Tuesday, 25 January 2022 10:12

Tate takes the chair at mx51

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Payments as a service platform operator mx51 has appointed Jim Tate as its chair.

“To have an executive as experienced as Jim join our company as Chair is a substantial milestone for our company,” said mx51 CEO and co-founder Victor Zheng.

“Jim’s experience and advice will be instrumental as mx51 partners with more banks across Australia and then turns its focus towards global growth.

“Jim is well connected and highly respected across the financial services in Australia. Jim’s involvement in mx51 is timely as mx51 seeks to help banks to combat disruptors such as Square-Afterpay.”

Tate became a director of mx51 in June 2021.

He is also chair of Westpac Foundation and Boyce Chartered Accountants, and is a director of New Payments Platform Australia and Ausiex.

Tate had a long career Westpac, with roles including chief product officer, CFO of Westpac Institutional Bank, COO of Westpac New Zealand, managing director of subsidiary Australian Guarantee Corporation, and general manager for Europe and the Americas.

He started his banking career Bank of America.

Tate holds a master of commerce degree from the University of New South Wales.

“There has rarely been a more significant time in payments globally, let alone locally," he said.

"The technology and capital being directed into the fundamental need of transferring money safely between consumers, businesses and institutions is evidence of its importance to the banking system and all participants. mx51’s proposition is unique and focused on the core needs of merchants at bank-grade quality.”

mx51 has recently appointed three other directors to its board: Jeff Law (Commencer Capital fund manager), Richard Wormald (Mastercard Australasia division president) and James Douglas (Acorn Capital venture partner).

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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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