Updated: Sep 3
The face of the payments industry has evolved since my tenure. Once an industry exclusively located in major financial hubs has gone digital, leading to a new wave of payment professionals who are making their way into the industry. As I begin the next chapter in my career, I look forward to bringing the lessons I’ve learned to the PAAY team.
1) Value Partnerships
In the early days, while working at First Data, I learned the importance of forecasting future performance. I utilized that knowledge in analyzing the value of companies. By understanding their value, we helped transform the acquiring landscape by aligning and partnering with banks rather than compete with them. It took months and sometimes years for these partnerships to form. The meetings were filled with negotiations and mutual understanding of how we were going to grow together. The most important thing we learned was the value each team brought to the table.
Businesses are evolving landscapes and partnerships are critical in order to expand and innovate. While forming bank alliances, my team and I mastered the art of communication. Ultimately setting ourselves up for success. For instance, when delegating tasks we made sure that each team worked on projects to highlight the bank's capabilities. This exemplified to the banks that we understood their goals and respect their experiences. Great partnerships are built upon strong communication and respect.
2) Master The Execution
As I grew in my career, I had the opportunity to explore different avenues of the industry. One of the more intriguing roles was evaluating companies of all sizes. Our objective at the time was to decide which organization's products and services would enhance the payment world. I met leaders who were excited about making their mark. Their innovation for change was inspiring, however the companies that were able to make it into the market place all had one thing in common. They had a plan on how to bring their vision to life.
Coming up with a solution to a need is inspiring. However, the idea is only the tip of the iceberg. The successful companies that were presented to my team had a plan. They knew what their needs were, how to make it happen, and projections of their growth in the coming years.
3) Maintain An Entrepreneurial Spirit
The energy and agility of young companies has always intrigued me. Meeting founders and listening to them describe their vision and its origins is thrilling. When presented with the opportunity to become part of the PAAY team, it was that vision and energy that Yitz conveyed coupled with the company's proven track record that won me over. As I learned more about PAAY and the team's early success, I became convinced that this was where I wanted to be.
While working at First Data and TSYS one of our goals when acquiring or partnering with a young company was always to maintain the independent thought and entrepreneurial spirit of the company. It was a difficult goal to achieve in a large corporate structure and often failed. I am inspired and excited to join PAAY because the company radiates with this spirit. Next to mastering the execution, the spirit is everything.
I'm humbled to join PAAY as it's CFO. As you may have noticed by now, my success has always been tied to a team. I know they are the core of every decision I make. I look forward to collaborating across generations and experiences to make our stamp on the industry. In order to be fulfilled, careers must evolve just as people must, so cheers to the next chapter.