At Visa, Bowman will drive the design, develop and delivery of new services and will report to Chief Product Officer Jack Forestell.
"This is a critical role, as the point of sale is undergoing dramatic change as it shifts from traditional payment acceptance to digital, cross-channel payment experiences," Forestell said in a blog post. "Mary Kay is the perfect person to oversee this team, as she brings over 20 years of global payments strategy, product development, product management and operations experience to Visa."
Bowman, who was head of payments at Square, is the second major departure from the San Francisco-based payments processor in recent months.
Square said in October that CFO Sarah Friar would leave the company to become the chief executive of Nextdoor, a social network for local neighborhoods founded in 2010. Last week, Square announced that Amrita Ahuja, CFO of Blizzard Entertainment, would join the company, replacing Friar. Ahuja starts this month and will report to Square CEO Jack Dorsey.
Founded in 2009, Square is an international mobile payments company for people selling goods and services that accepts card payments and also provides reporting and analytics, as well as other services.
Square was up slightly 0.20% to close at $66.23. Visa was down 0.44% to close at $138.06.