PURCHASE, N.Y. (4/19/10)--MasterCard Worldwide announced the launch of MasterCard Labs, a new global research and development arm dedicated to bringing innovative payment solutions to market. “As the world continues to migrate toward a cashless society, we will be focused on delivering what’s next, faster and more efficient than ever before,” said Ajay Banga, MasterCard president and chief operating officer. Garry Lyons was appointed group executive to oversee MasterCard Labs, effective April 30. He previously served as CEO for Orbiscom. Lyons will be responsible for building payment advancements and leveraging enhanced time-to-market capabilities to drive innovations. He also will assemble the labs’ research and development team, which will work with MasterCard’s Innovative Products team.