Boku Inc, a worldwide network for tailored payment solutions, has named Stuart Neal as the Chief Executive Officer, effective January 1, 2024, and as a Company Director, effective January 17, 2024. Stuart Neal assumes leadership from Jon Prideaux, who announced retirement plans in July 2023 and will continue as a Non-Executive Director on the Board. Boku is transforming the payments landscape through innovative technology, offering diverse payment options globally, including Direct Carrier Billing (DCB), digital wallets, and Account-to-Account (A2A) connections. This empowers users to pay for goods and services using their preferred method, transcending geographical boundaries. Boku's clientele comprises major industry players such as Amazon, Google, Meta, Microsoft, Netflix, Spotify, Tencent, and Sky.
Local Payment Methods (LPMs) now constitute two-thirds of the total global online payment share, marking a substantial increase from 2010 when they comprised only a quarter. In H1 2023, Boku's network expanded to encompass over 300 LMPs in 60 countries, experiencing swift customer adoption with more than 32 million new users making their initial Boku purchase. Globally, Boku's network spans over 7.5 billion consumer payment accounts across 90 countries.
With over two decades of experience in payments, banking, and innovation leadership, Boku CEO Stuart Neal has an in-depth understanding of the company's operations. Formerly Boku's CFO and Chief Business Officer, Neal returned as CEO Designate in July 2023 after Jon Prideaux's retirement announcement. Neal's extensive career includes leadership roles at prominent companies, such as Barclaycard, Featurespace, VocaLink, GlaxoSmithKline, and Virgin Media.
In his role as CEO and company director, Stuart Neal will persist in advancing Boku's commercial momentum and fostering innovation. The company is committed to facilitating global payment choices and driving growth opportunities for merchants. Stuart Neal expressed enthusiasm about returning to Boku as CEO during a vibrant period for the payments industry. Boku's mission revolves around empowering individuals worldwide to pay for their preferred services and enabling global merchants to seamlessly provide localized payment options, unlocking new avenues for growth. Stuart looks forward to leading Boku's exceptional team, fostering innovation, establishing new partnerships, and creating a global network of tailored payment solutions that offer genuine choices to both merchants and consumers.