Michael J. Abbott
Michael Abbott currently works at Accenture as a Senior Managing Director leading Banking for North America.[1] He was previously the founder and CEO of Softcard.[2] Mike was also formerly the Chief Marketing Officer for Retail Consumer Finance at General Electric.[3]
Education[edit]
Abbott earned a Bachelor of Science degree in Electrical Engineering and Mathematics at Stony Brook University in 1989, a Master’s in Electrical Engineering from Columbia University in 1993 and a Business Administration and Finance from Columbia University in 1995.[1]
Career[edit]
Abbott began his career in 1990 as a research engineer at IBM, while also getting his master’s in Electrical Engineering, Business Administration and Finance. In 1995, Abbott became a partner at Mitchell Madison Group, a management consulting firm. He then served as an executive vice president for marketing at FleetBoston from 1999 to 2002, a bank that was eventually bought by Bank of America.[4]
Starting in 2002, Abbott worked for eight years as a chief marketing officer in retail consumer finance for General Electric.[3]
Founder and CEO of Softcard[edit]
In November 2010, AT&T, Verizon, and T-Mobile hired Abbott to head their mobile payment venture.[5] As CEO, Abbot led the development and launch on one of the world’s first mobile payment systems, originally called Isis. By 2011, Visa, Mastercard, Discover, and American Express joined Isis to accept mobile payments.[6]
While Isis had a rocky launch, Abbott promised his mother that he would make the mobile payment system easy enough for her to use.[7]
In 2014, Isis changed its name to Softcard.[2] That same year, Abbott was a keynote speaker at the Money 20/20 Conference talking about his experience in mobile payments and his journey building Softcard as well as the impact of Apple Pay on the industry.[8][9]
By 2015, Softcard was bought by Google and became Google Wallet.[10][11]
In February 2016, Abbott spoke at Stony Brook University about his experience conceptualizing, developing, and launching Softcard.[12]
Accenture[edit]
Once Softcard was sold, Abbott wanted to focus on consulting.[13] This led to his employment with Accenture in January 2016 as a managing director in financial services, eventually being promoted to senior managing director in 2018.[1]
References[edit]
- ↑ 1.0 1.1 1.2 "Michael Abbott". Accenture Banking Blog. Accenture. Retrieved 1 September 2020.
- ↑ 2.0 2.1 Garcia, Tonya (4 September 2014). "Wallet App Changes Its Name From 'Isis' To Softcard". Adweek. Retrieved 1 September 2020.
- ↑ 3.0 3.1 "AT&T, T-Mobile and Verizon Wireless Announce Joint Venture to Build National Mobile Commerce Network". Businesswire. 16 November 2010. Retrieved 1 September 2020.
- ↑ "Bank Of America Buys FleetBoston". AP. CBS News. 27 October 2003. Retrieved 1 September 2020.
- ↑ Eichenbaum, Peter (15 November 2010). "AT&T, Verizon Said to Hire Ex-GE Executive for Payments Venture". Bloomberg. Retrieved 1 September 2020.
- ↑ "Isis Forms Relationships with Visa, MasterCard, Discover and American Express". Mastercard. 19 July 2011. Retrieved 1 September 2020.
- ↑ Cheng, Roger (1 December 2014). "Isis CEO: Foundation is here for mobile payments". CNET. Retrieved 1 September 2020.
- ↑ "Mike Abbott (CEO, Softcard) & Carman Wenkoff (CIO, Subway)". YouTube. 1 December 2014. Retrieved 24 September 2020.
- ↑ "Softcard CEO: Apple Pay Is Tailwind We Hoped For". Bloomberg. 7 November 2014. Retrieved 1 September 2020.
- ↑ Hof, Robert (23 February 2015). "With Softcard Deal, Google Buys A Big Boost For Its Wallet Vs. Apple Pay". Forbes. Retrieved 1 September 2020.
- ↑ Welch, Chris (5 March 2015). "Softcard is shutting down on March 31st, and Google Wallet will replace it". The Verge. Retrieved 1 September 2020.
- ↑ "How Did I DoIT Michael Abbott of Softcard". YouTube. Stony Brook University. 10 February 2016. Retrieved 24 September 2020.
- ↑ Fitzgerald, Kate (28 December 2016). "Softcard's former boss looks ahead". PaymentsSource. Retrieved 1 September 2020.
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