In this exclusive interview, Charles Rosenblatt, president of PayQuicker, shares his valuable advice for fintechs striving to achieve growth, explores the significance of relationships and trust in the business world, and reflects on the evolving landscape of the payments sector.
You have helped to grow a lot of companies in your career. What advice would you give to fintechs that are trying to scale?
The growth of one’s current company is dependent on relationships and trust built at other companies. Whether it is VC or seed investors who invest in new fintech startups based on success in the past or the relationships as an executive that one creates over decades, getting into growth mode can be as much about your history as your future. My advice: be good to the people that you work with today and have worked with in the past and treasure your relationships. They could turn into that top salesperson that joins your team allowing for scale, or a strategic partnership that catapults your company to 100% revenue growth with a single strike of the pen.
You also have a lot of experience in the payments sector. How has the industry changed during your career?
As much as things have changed in my career, they have stayed the same. The risk-based approach that we created at Capital One has permeated the rest of the industry and is the key in most financial services businesses. However, areas like compliance and innovation teams have grown tremendously. One thing that has been changing every year is speed. Everyone continues to crave efficiency and time savings, and innovation has been built to enable it. The need for everything to happen immediately has changed a lot, as payments used to move more at the pace of a tortoise, and now, everything is the pace of the hare.
What do you think the future of payments will look like?
There are two main innovations driving the payments industry today: instant payments and cross-border payments. Not long ago, the easiest way to conduct a cross-border payment was to hop on a plane with a suitcase full of cash.
Today, payments technology companies such as PayQuicker have changed the industry landscape and are solving these long-standing issues. We launched Payouts OS, a first-in-market payouts-as-a-service platform in 2021 to address both of these pain points, and help shape the next evolution of the global economy by focusing on serving gig workers and the underbanked. Payouts OS enables instant payouts through any method of the payee’s choice, and can conduct payments instantly in 200+ countries and territories, in 40+ different currencies.
I believe the future of payments will be providing people flexibility in when and how they get paid through instant transactions capabilities and multiple currency/payout method capabilities—something PayQuicker is operating at the forefront of.
Can you tell me about PayQuicker?
PayQuicker is an innovative global financial technology company that has been revolutionising the payouts experience since 2007. Our award-winning solutions service more than 300 clients and allows businesses of any size to offer instant global payouts in local currencies via secured bank accounts with prepaid debit cards, virtual cards and mobile wallets.
PayQuicker’s cloud-based and regulatory-compliant software stack enables clients to white-label our products, empowering fast and flexible spending options under their own branded experience. Ultimately, our mission is to enable clients with superior payment and purchasing power that immediately drives business growth with every login, payout, purchase or swipe.
What is your role at the company?
As president of PayQuicker, I help shape our vision for the future of the company by closely overseeing product development and sales, and the partnerships we forge with other leading banks and payment providers. I led the launch of our first-in-market payouts-as-a-service platform, Payouts OS. Now I focus on attracting, onboarding and retaining clients on the Payouts OS platform and expanding the platform, helping organisations across various industries streamline their payouts experience.
PayQuicker is nominated for Payments Tech of the Year at the US FinTech Awards. What made you enter?
We entered this year’s awards for two reasons: The US Fintech Awards is a highly recognised industry honour, and one that we are proud to be a part of.
We also think that we are among the companies deserving of being recognised. With our innovative Payouts OS platform, we are able to focus on not only improving the B2B payments space, but also empowering payees, often in underbanked communities, to see their earnings in real-time through instant payments.
What are you looking forward to on the night of the awards?
I’m looking forward to the gathering of some of the great minds across fintech who are looking to tackle some of the industry’s most widespread concerns through technology and innovation. The US Fintech Awards celebrates innovation across the financial services and fintech industries, and we’re thrilled to be a part of this year’s finalists.
This interview is supported by PayQuicker.