Deluxe Taps Payments Veteran Paul Garcia as Chair to Guide Digital Pivot

MINNEAPOLIS, MN – April 24, 2026 – In a move signaling a powerful reinforcement of its strategic direction, Deluxe (NYSE: DLX) has named Paul R. Garcia, a titan of the electronic payments industry, as the new independent Chair of its Board of Directors. The appointment places a leader with a proven track record of explosive growth at the helm of the century-old company as it accelerates its transformation from a legacy print provider into a modern Payments and Data powerhouse.

Mr. Garcia, who has served on the Deluxe board since 2020, succeeds Cheryl Mayberry McKissack, who is retiring after a significant tenure as Chair. The transition is seen by analysts as a deliberate and strategic step to leverage deep industry expertise at the highest level of governance.

“Since the day he joined the board, Paul has been a tremendous asset to Deluxe,” said Barry McCarthy, President and CEO of Deluxe, in a statement. “His experience in the payments sector has been invaluable, and his ascension to this role will only strengthen our position as a trusted Payments and Data company.”

A Veteran's Hand on the Tiller

Paul Garcia brings a formidable resume to his new role, defined by his transformative 14-year tenure as Chairman and CEO of Global Payments Inc. from 1999 to 2014. He took the helm of what would become Global Payments and orchestrated its spin-off into a public company in 2001. Under his leadership, the company underwent a period of extraordinary expansion, with annual revenues soaring from approximately $350 million to over $2.4 billion.

During his time at Global Payments, Garcia was the architect of a major international expansion strategy that resulted in nearly half of the company's revenue being generated outside the United States. His leadership earned him widespread recognition, including being named one of the “best CEOs in America” five times by Institutional Investor and an induction into the Electronic Transactions Association (ETA) Hall of Fame. This experience in scaling a payments business into a global, Fortune 500 entity is precisely the expertise that aligns with Deluxe's current ambitions.

“I am beyond honored by this recognition,” said Garcia. “This is an extraordinary board for an extraordinary company, and I am proud to step into this role. Having served as the Chair of the Compensation and Talent Committee, I know firsthand about the incredible depth of talent across this company.”

Accelerating a Century-Old Company's Transformation

Garcia's appointment comes at a critical juncture for Deluxe. The company, long synonymous with check printing, has been on a multi-year journey to pivot its core business toward high-growth digital services. This transformation focuses on its Payments and Data Solutions divisions, which now account for a significant and growing portion of the company's revenue.

This strategic shift was dramatically accelerated by the 2021 acquisition of First American Payment Systems, which added over 150,000 merchants to its portfolio and fundamentally bolstered its capabilities in merchant services. Today, Deluxe processes over $2.8 trillion in annual payment volume, leveraging its vast network of millions of small businesses and thousands of financial institutions.

The company has made substantial investments in its technology stack, migrating platforms to the cloud and integrating AI to optimize operations and enhance customer solutions. Its offerings in B2B Payments, Merchant Services, and data-driven marketing are now the primary drivers of growth, designed to help businesses pay, get paid, and grow in a digital economy. Garcia's deep understanding of the electronic payment processing ecosystem is expected to provide invaluable guidance as Deluxe continues to refine these offerings and compete in a crowded market.

Governance and Strategic Oversight in a Competitive Market

The selection of Garcia as an independent Board Chair is a significant move from a corporate governance perspective. An independent chair provides a crucial layer of oversight, ensuring the board operates with integrity and accountability, separate from the company's day-to-day management. This structure is widely seen as a best practice that enhances shareholder confidence by ensuring robust oversight of CEO performance, risk management, and long-term strategy.

Garcia's role will involve guiding the board, advising CEO Barry McCarthy, and ensuring management's execution aligns with the strategic interests of shareholders. His experience will be vital as Deluxe navigates a fiercely competitive landscape populated by agile fintech startups and established giants like Fiserv and, ironically, Global Payments itself. The industry is being reshaped by rapid technological advancements, including the rise of real-time payments, the pervasive influence of artificial intelligence, and the growing demand for embedded financial services. Garcia’s firsthand experience in navigating such market shifts will be a critical asset in the boardroom.

A Planned Transition in Leadership

The leadership transition is a planned succession. Garcia steps into the role following the retirement of Cheryl Mayberry McKissack, who became the first Black woman to chair the Deluxe board in its 105-year history upon her election in 2020. Her tenure was marked by the acceleration of the company's strategic pivot, and she was a vocal proponent of its transformation into a technology-focused company. Her departure marks the end of a significant chapter, while Garcia's appointment signals a clear intent to double down on the payments and data strategy she helped oversee.

With a seasoned payments veteran in the chairman's seat, Deluxe is sending an unambiguous message to the market and its competitors. The company is not merely adapting to the digital age; it is actively positioning itself to lead. Garcia’s appointment is the latest and perhaps most definitive move yet in its long journey from checks to the cutting edge of financial technology.