Paramount Commerce names new CEO

Justin Ferrabee has been named Chief Executive Officer of Paramount Commerce, under the decision by the Board of Directors, effective of 12 August, according to a press statement by Paramount. The new CEO praises Maltese operations as “integral” part of the company’s success in a statement sent to Business Malta.

Mr Ferrabee is transferring from his previous role of Chief Operating Officer of Payments Canada, an organization responsible for Canada’s payment clearing and settlement infrastructure, processes and rules. In this previous position, Mr Ferrabee had strategic oversight for many critical operational initiatives and industry modernisation activities, the press statement says.

“Payments innovation is driving broad adoption of fintech across the industry, and Paramount Commerce’s 15-year track record of success and reliability positions it to lead this transformational change. I am excited to be coming on board at such a pivotal time,” says Mr Ferrabee.

Answering Business Malta’s enquiry, Mr Ferrabee praised the international firm’s Maltese arm, while taking time to underscore the iGaming sector’s potential. “Paramount’s Malta office is integral to our success, and will continue to be as we grow,” says Mr Ferrabee in a statement sent to BM. “There is an extensive pool of talented people, especially in the online gaming industry, and we have been very fortunate to build a strong and dedicated team in the country,” he adds.

“With Justin’s payments industry expertise and success in driving growth and innovation, he was the clear choice to propel our company into the future,” says Izabela Wakabayashi, representing the Board of Directors. “Now is the right time for a leader like Justin, and we are so pleased to welcome him to our team,” she adds.

Paramount Commerce has been developing electronic payment technology since 2003. Its patented online banking verification technology supports payments in more than 30 countries, has been used by millions of consumers and has processed more than $35b in volume.

Fintech Paramount Commerce is headquartered in Toronto and has operations in Vancouver, Las Vegas, Malta and the United Kingdom.