Transaction Trending, a podcast by ETA
Summary: Transaction Trending is a podcast powered by the Electronic Transactions Association, the trade association and the voice of the payments technology industry. Join ETA CEO Jason Oxman twice a month for a look into the people, places and things that are shaping the payments technology industry, and our economy as a whole, for the better. We'll bring together diverse voices and perspectives, and explore a wide range of stories and trends. Log onto transactiontrends.com for the latest on the podcast and other payments news, and be sure to subscribe on SoundCloud, Apple Podcasts, Google Play and other places you find podcasts.
Predicting the future is impossible. But for payments technology executives, seeing around the corner, reading the market and leaning-in to future-forward innovation is essential. It’s not easy, but leaders who excel at it are the ones who shape the way the world pays. On this episode of Transaction Trending, we’re joined by one of our industry's most recognized leaders. Kim Crawford Goodman is the current President of Card Services at Fiserv, an international fintech powerhouse, where she oversees the company’s debit and credit processing and payments solutions. Kim has more than 25 years of experience in driving innovation and growth in fast-paced markets like financial services and technology. Prior to joining Fiserv earlier this year, Kim served as CEO of Worldpay US, President of American Express’ Global Business Travel and President of Merchant Services Americas, and Vice President of Software and Peripherals at Dell. Kim joined ETA CEO Jason Oxman just after giving a keynote at ETA’s Strategic Leadership Forum to discuss her view of the changing landscape for payments technology and the most important opportunities and challenges for payments tech leaders to consider moving into the future.
Earlier this year, ETA announced that it was expanding its advocacy work in Canada. Our new expanded efforts give the payments industry a stronger voice in Canada for forward-thinking policy that supports innovation and global partnerships. Canada’s payments marketplace – and the policy environment that it operates in - is one that is unique and very much different to that of the United States. With it comes its own unique challenges, and opportunities, for payments companies in Canada and around the world. Joining us on this episode of Transaction Trending is Angela Brown, President and CEO of Moneris. Moneris is Canada’s largest payments processors and is among the biggest worldwide. Angela is an incredible leader in our industry – across her 25-year career in payments, she’s served as an executive at companies including MasterCard, Visa, TSYS and The Canadian Imperial Bank of Commerce. Working in both the United States and Canada before coming to the helm at Moneris in 2013, Angela has a unique expertise on the form and function of the Canadian payments ecosystem. She joined us at ETA’s Strategic Leadership Forum in the Kount podcast production studio to talk about Canada, Moneris and her vision for the future of payments in North America.
When Vantiv acquired Worldpay in a ten-billion-dollar deal at the beginning of 2018, the coming together of these two giants created the largest payments processor by volume in the world. From its beginnings a little over a decade ago as a spin-off of Fifth Third Bank, Vantiv, now Worldpay’s journey was rapid ascent thanks in large part to its leadership. On this episode of Transaction Trending, ETA CEO Jason Oxman sits with Charles Drucker, CEO and Executive Chairman of Worldpay. Charles joined Vantiv as President in 2004 before he was named CEO of Vantiv in 2009. As Worldpay’s leader, Charles has been at the helm of the company’s remarkable growth in the payments industry. Charles joined Jason in the Kount podcast production studio at ETA’s Strategic Leadership Forum to talk about his vision for Worldpay, the future of the payments industry, and what it means to be a good leader in the industry.
Brad Wiskirchen, CEO of Kount, joined Jason in the Kount podcast production studio at ETA’s Strategic Leadership Forum to talk about ecommerce and the future of the payments security in an increasingly online world.
According to ETA’s Payments Trends to Watch report, merchants will spend $2.2 billion this year alone on software solutions for their point-of-sale devices. Our report predicts that merchants will spend even more – up to $2.4 billion – in 2019. It’s no secret why. As we’ve discussed with ISV and PayFac leaders on this podcast, software solutions deliver a lot of functionality to merchants. But for acquirers, ISOs and payments processors, software can be a vital tool for driving new products, enhancing services, and extending the reach of payments to new verticals. All told, these solutions have unlocked a new and innovative time for the payments industry. On this episode of Transaction Trending, we are tapping into some of the excellent content we had at this year’s TRANSACT, the world’s most important payments technology event. Marc Abbey, Managing Partner at Accenture Payments, kicked off our Integrated Payments and Software track at TRANSACT with an overview of the evolving ISV marketplace. As a leading observer, analyst and advisor to the payments industry, Marc shared insights on how the ISV market has evolved, the opportunities it presents and what future trends may emerge. We bring his address to you now from the halls of TRANSACT.
As the voice of the payments industry, ETA is always busy meeting with policymakers, Members of Congress and industry leaders to promote a policy environment that fosters growth and accessibility for payments. An important element of our advocacy is working closely with our members to educate policymakers on the ins-and-outs of our industry. On this episode of Transaction Trending, ETA CEO Jason Oxman is joined by Deron Hicks, Vice President of Government Affairs at TSYS. An industry expert, policy wonk and lawyer, Deron is one our industry’s best advocates. He’s an expert on payments policy, and knows what it takes to promote a positive policy environment for payments technology companies. Listen for insights into how payments technology companies advocate for a positive public policy environment, and for tips on how your payments company can make a difference.
This week on the show, we are building on last week’s conversation with Rushi Patel, co-founder of Homebase. Rushi and ETA CEO Jason Oxman discussed the growing role of software developers in the payments ecosystem. Software solutions from software developers are bringing more than payments acceptance to a merchant’s countertop. And through partnerships with high-tech, powerful integrated point-of-sale manufacturers, they can increase stickiness and fight merchant attrition for acquirers and their sales channel partners. The benefits, and new challenges, of this emerging ecosystem between hardware manufacturers and software solutions providers was the topic of one of our best keynotes this year at TRANSACT, the world’s largest payments technology event. At the show, ETA members Poynt, a hardware manufacturer, and talech, a software company, announced a partnership from the Trustwave keynote stage. Together, the companies will enable talech’s suite of software solutions on the Poynt terminal, unlocking new capabilities for merchants. Jason moderated a discussion between Poynt CEO Osama Bedier and talech CEO and co-founder Irv Henderson detailing their new partnership and offering TRANSACT attendees the opportunity to get an inside look at the future of hardware-software partnerships.
When merchants power up their new, smart, integrated point-of-sale systems, they want more than just payments acceptance. They want data. They want analytics. They want scheduling and HR tools, inventory management, accounting software, ecommerce integrations, and more. Payments tech companies have been stepping up to deliver. That’s where companies like Homebase come in. Homebase is an Independent Software Vendor, or ISV. Through a suite of software products, Homebase offers merchants scheduling, timesheet and hiring software, integrated directly into point-of-sale systems. ISVs like Homebase are offering payments companies the value-adds that merchants want. In some cases, ISVs are even venturing into payments processing themselves. At ETA's recent TRANSACT Tech Atlanta event, ETA CEO Jason Oxman sat down with Rushi Patel. Rushi is the co-founder of Homebase and a former payments industry analyst. What's next for the ISV marketplace, and how can payments technology companies capitalize? Listen in.
Payment facilitators are shaking up the sales channel in the payments industry. With a new approach to underwriting and a heavy emphasis on fintech, Payment facilitators like Square and Stripe are providing new payments solutions to merchants of all sizes. Payment facilitators are important to ETA. Our new committee on Payment Facilitators meets regularly to discuss the industry and make connections. We also bring hundreds of payment facilitator and software leaders together at our events like TRANSACT and the TRANSACT Tech series. ETA CEO Jason Oxman met up with Mark Bishopp earlier this summer at TRANSACT Tech Atlanta. Mark is CEO of Amaryllis, a full-service software platform that can service any payment facilitator. Under his leadership, Amaryllis has forged partnerships with some big players in payments technology. Mark is an expert in the nuts and bolts of the PayFac marketplace, so Jason and Mark took a moment between sessions at TRANSACT Tech Atlanta to discuss PayFacs and how the market is responding to their innovations.
What started as a ripple has now become a wave. More and more, people across the tech world are setting their sights on a technology that its staunchest proponents say will fundamentally change not only the payments industry, but every industry. The technology is blockchain, and while its not exactly new, its development, implementation and impact within the payments ecosystem is yet to be fully understood. On this episode, ETA CEO Jason Oxman is joined by Emi Yoshikawa, Director of Joint Venture Partnerships at Ripple, one of the world’s most prominent blockchain startups. Ripple has developed blockchain technology that can provide global financial settlement solutions to financial institutions. As Director of Joint Venture Partnerships, Emi manages business development for Ripple in Asia. Emi is an expert in the utilization of blockchain technology for financial institutions. Earlier this year, she participated on a keynote panel on blockchain at TRANSACT, the world’s largest payments technology event.
Tap-and-go: three words that will come to define the payments experience in the United States. Contactless payments are coming stateside, and the new wave of technological change is being powered by ETA members like Wells Fargo Merchant Services, whose Executive Vice President, Liz Ryan, is the chair of ETA’s Contactless Task Force. The ETA Contactless Task Force met this year at TRANSACT as part of its ongoing mission to develop and implement an industry-wide plan that encourages the adoption of contactless payments. The task force is co-chaired by Melanie Gluck, VP, Mastercard and includes executive leaders from all relevant segments of the payments technology industry, including all major card networks, payment processors and merchant acquirers, financial institutions, software and tech firms, hardware developers and sales channel organizations. ETA CEO Jason Oxman caught up with Liz – who, in addition to chairing the task force, also sits on ETA’s Board of Directors – on the show floor to talk about the ETA Contactless Task Force. She also gave her view of the changing sales channel and role of disruptive software in shaping payments technology.
In 1998, Henry Helgeson founded Merchant Warehouse in upstate New York. He was selling simple terminals and printers to small businesses. In December of 2017, TSYS acquired Cayan – the company Merchant Warehouse would eventually become under Henry’s leadership as CEO - for $1.05 billion. In the twenty years in-between, Henry grew Cayan into a major innovator in the payments marketplace. Cayan has built a portfolio of 70,000 small business merchants and has over 100 integrated partners. Through its Genius platform, Cayan has brought to market a suite of software and hardware products that offers small and medium business owners a variety of advanced payments capabilities. On this podcast, Henry takes listeners through the history of Cayan, how he capitalized on the early days of ecommerce to build a billion dollar payments technology company, the company's acquisition by TSYS, and his insights into the future of payments technology. Henry is a leader and an innovator in the payments industry with decades of experience growing Cayan. He was recently honored at TRANSACT for being awarded ETA’s Distinguished Payments Professional for his work in advancing the industry. Take a listen here.
If you’ve tapped, dipped or swiped your card recently, chances are it was on a Verifone terminal. For over 30 years, the hardware company and its terminals have been a staple of many payments solutions for merchants across the world. However, as ETA CEO Jason Oxman often discusses on this podcast, the payments industry has changed in some major ways. Once a relatively simple piece of hardware, modern payments devices from companies like Verifone must be dynamic, powerful unions of advanced software and hardware. They must be elegant, capable, adaptable, and above all, secure. On this episode of Transaction Trending, a conversation on the innovations at Verifone that drive these products and the payments ecosystem forward with Drago Dzerve, Vice President, Product Management at Verifone.
From the show floor at TRANSACT, the largest payments technology show in the world, ETA CEO Jason Oxman sits down with Rich Aberman for a conversation on the future of fintech. Rich is the co-founder of WePay, a Silicon Valley startup turned payments technology success story. Rich founded WePay in 2008, just one year out of college. Now in its 10th year, WePay has left an notable mark on the fintech world. Funded and supported through its early years by major tech players like Max Levchin, Steve Chen, Y Combinator and Highland Capital Partners, Rich and his team have built an impressive online integrated payments platform. And in August of 2017, JPMorgan Chase announced that it would acquire WePay at a reported valuation of over $220 million. Jason and Rich took a few moments during the Paysafe opening reception on the TRANSACT show floor to talk about WePay’s journey from early funding rounds to acquisition, as well as his observations on payments technology and financial services.
At $485.9 billion in revenue last year alone, WalMart is by far and away the world’s largest retailer. Founded in 1962 in Rogers, Arkansas by a man named Sam Walton, WalMart has since grown into a titan of the retail industry, making numbers that are simple incredible. Its 4,672 retail locations in the United States make up 699 million square feet of retail space. Walmart employs 1.5 million Americans and 2.3 million people worldwide. Recently, WalMart has been making notable advancements through mobile order ahead, cross-border payments, grocery delivery and ecommerce. Joining the show this week on Transaction Trends is Redd Luhtanen, Senior Director of Global Treasury at WalMart. Reed has responsibility for Walmart’s payments-related public policy and public relations initiatives. Along with an internal leadership team, Reed is also responsible for establishing Walmart’s payments acceptance strategies. With billions of dollars flowing through WalMart’s systems every day, Reed oversees a payments technology operation at an unrivaled scale. Listen on for an exclusive look into how Walmart, the nation's largest and most influential retailer, thinks about payments technology.