Payment company Interac Corp. has named Jeremy Wilmot as its new president and CEO.

Wilmot will succeed Mark O’Connell on Aug. 1. as he moves to an advisory role until his retirement in October.

“Interac connects the fintech ecosystem and I’m delighted to join a company that is collaborative, innovative and progressive at its core,” Wilmot said in a news release.

“I look forward to working with the team behind the company’s ubiquitous products and solutions, as well as with our partners and customers, to drive growth and deliver further value in the lives of Canadians.”

Wilmot spent 19 years at ACI Worldwide, where he “delivered diversified go-to-market success across the Americas, Asia Pacific and Europe, Middle East and Africa,” Interac said. 

O’Connell had spent 17 years as Interac CEO as the company expanded outside of payments and into digital authentication, among other fields. 

“I am immensely proud of the work we have accomplished to enable next-generation digital interactions at scale, and I am pleased that the Board has chosen Jeremy to lead Interac and deliver on this vision today and into the future,” he said.