In Podcast 429, Arik Shtilman, the CEO of Rapyd, sat down for an insightful discussion on the future of payments and the role of fintech in shaping it. Rapyd is a global fintech company that provides a single platform for businesses to access local payment methods and financial services worldwide. The podcast covered a range of topics, from the challenges of scaling a fintech company to the impact of COVID-19 on the payments industry.
One of the key takeaways from the discussion was the importance of localization in payments. Shtilman emphasized that businesses need to understand the local payment preferences and regulations in each market they operate in. Rapyd’s platform enables businesses to access over 900 payment methods globally, including bank transfers, e-wallets, and cash-based payments. This allows businesses to offer their customers a seamless payment experience, regardless of where they are located.
Another topic discussed was the challenges of scaling a fintech company. Shtilman shared his experience of growing Rapyd from a small startup to a global fintech company with over 500 employees. He emphasized the importance of building a strong team and culture, as well as having a clear vision and strategy for growth. Shtilman also highlighted the need for fintech companies to be agile and adaptable in response to changing market conditions.
The impact of COVID-19 on the payments industry was also discussed. Shtilman noted that the pandemic has accelerated the shift towards digital payments, as more consumers and businesses move away from cash-based transactions. He also highlighted the importance of providing contactless payment options to reduce the risk of transmission. Rapyd has seen increased demand for its platform during the pandemic, as businesses look for ways to offer digital payment options to their customers.
Overall, the discussion with Arik Shtilman provided valuable insights into the future of payments and the role of fintech in shaping it. As the payments industry continues to evolve, businesses will need to stay ahead of the curve by offering localized payment options and embracing digital payments. Fintech companies like Rapyd are well-positioned to help businesses navigate these changes and provide a seamless payment experience for their customers.
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