IFGS 2023: Merusha Naidu, Paymentology

The importance of understanding your customer, constant innovation and sharing Paymentology’s knowledge and experience with new fintechs at IFGS 2023

Merusha Naidu, Global Head of Partnerships (Scheme) at Paymentology, summarises her talk and time at the Innovate Finance Global Summit (IFGS) 2023 in London this week. 

Can you give us some background on yourself and Paymentology?  

Paymentology is a global neo processor working with fintechs, neobanks, digital banks and telcos to create customer-centric payments ecosystems. 

I started with the company 13 years ago in South Africa as an account manager. I then moved to Southeast Asia, where I managed our first customers in Thailand.  

Merusha Naidu

Then I went to Singapore, where I managed the broker team in that region, and finally made my way to the UK to be in the headquarters in London. 

I work with the global Paymentology team. The company has really grown over the last 14 years, it is exciting to see its evolution. 

What was the key message from your session—Pay it Forward: Meet the Companies Reshaping the Sector? 

It was about creating global customer-centric ecosystems. When we talk about customer-centricity, one of the things we have learned is that to create solutions that are successful, you must understand the customer. You must understand how their lives are changing, what demands they have and what they are looking for in a financial solution.  

Customers want to have full control and flexibility, and they want to be able to manage their cash, without their financial institutions forcing them to do things in a certain way.  

They want to do it with spend-controls for budgeting. They may want to split a purchase into several instalments over months, and be able to make this decision before or after the fact. 

They might use instant debit for ordinary daily purchases, or switch to credit for high-value items. The power to quickly and easily flip between the two, and back again, is important for some customers.  

All of this needs to be possible through a single, user-friendly app and that is what we can enable for our clients, and their customers. 

How do you go about creating a product that a customer will want?  

It’s all about creating the art of what’s possible. Paymentology has been in this game for so many years.  

We have grown and evolved with our customers. But we also see gaps based on what consumers are asking for, versus what traditional financial institutions are offering. 

For us, it’s a balance between the two. It’s making sure we are innovative enough to stay at the forefront of payments, while also making sure our customers are ready for that innovation. 

What brought you to IFGS 2023? 

We are really interested in the various innovative fintech solutions that are being showcased at IFGS 2023, as well as hearing from the high calibre industry leaders.  

Additionally, we see this as an opportunity to share our own thought leadership and knowledge, highlighting how we are at the forefront of the latest trends and developments in payments.  

Lots of fintechs don’t understand the potential of payment solutions. It’s been great to meet some of them and share what we do, show them how they can drive their products forward, and demonstrate how adding payment mechanisms to their existing stack only enhances their offering. 

Which sessions stood out for you? 

There has been a whole host of informative sessions – a few I really enjoyed were delivered by executives at Monzo, Starling Bank and Wise.  

I’d say one of the overarching takeaways is the continuing and significant role that fintech companies play in the financial ecosystem in the UK and Europe.  

It’s so great to feel the collective passion that the event attendees have for ensuring it maintains this role by delivering fresh ideas and innovation.  

There’s a lot that is going to continue happening in this region and I’m super excited to play a part in delivering what comes next. 

Image: Paymentology 

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.