Kicking off 2025 with a can’t miss interview. I sit down with Jenna Wyer – a seasoned FinTech veteran and founding member of Venmo and Braintree. In this episode we explore the newest global payment trends, the challenges subscription-based businesses face, and the exciting future of cross-border transactions.
Jenna shares her insights on the high costs of credit card processing for merchants, the importance of payment orchestration, and the strategies for reducing payment processing costs.
She also explores the potential of generative AI in the payment sector, the rising role of payment consultants, and practical advice for subscription merchants looking to retain and grow their customer base.
The conversation touches on various aspects of the industry, including the adoption of alternative payment methods and the future of payment optimization.
Some of the Jenna’s quotes
Usage billing: “ Netflix would have never taken off if you were billed for every show you watched, right? The whole point of it is you pay, you get as much as you want. “
Local payment methods: “They (merchant) were noticing they were not having the conversion that they wanted at checkout and they couldn't understand it at first.
They thought, well, maybe our offerings not great. Maybe our pricing's not right. But as we kind of dug into the data, what we realized is. They just weren't offering the right payment method.”
Preferred payment methods: “ I have daughters in their 20s and they use Apple Pay everywhere. That's just how they transact when they're at point of sale, when they're online. It's like, if they don't take Apple Pay, then they're probably not going to buy it.”
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How to find us
Nikita Skitev: linkedin.com/in/nikitaskitev
Jenna Wyer: linkedin.com/in/jennawyer
Jenna’s website: jennawyer.com
Payments Strategist: linkedin.com/company/paymentsstrategist
Time stamps
00:38 Meet Jenna Wyer: FinTech Veteran and Innovator
01:56 Trends and Observations from Money 2020
03:01 The Challenge of Credit Card Fees
03:39 Account-to-Account Payments: The Future?
06:46 The State of Subscription Businesses
08:33 The Impact of COVID on Subscriptions
12:50 Usage-Based Billing: Pros and Cons
14:15 Cross-Border Payments: Challenges and Strategies
20:43 The Importance of Payment Orchestration
25:59 Stripe's Forward API and Enterprise Focus
28:15 Generative AI in Payments
32:55 Strategies to Reduce Payment Processing Costs
36:11 The Rise of Payment Consultants
43:10 Challenges in the Payments Industry
46:13 How to contact Jenna Wyer
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