Industry Leader Says “Broken” Payments Industry is Undergoing Massive Change
Chargebacks911® CEO Gary Cardone is an expert thought leader in payments, with decades of experience in a variety of industries. He recently sat down with Tony Craddock from the Emerging Payments Association for an interview in which he laid out his forecast for the future of the payments space.
The Emerging Payments Association (EPA) sets out to make payments work for everyone. It runs a comprehensive program of activities for members, including an online annual conference, numerous briefings and webinars, CEO Round Tables, and networking and training activities. The EPA also runs six stakeholder working groups.
Gary put his knowledge to work as part of the interview. He offered his top tips on how to spot opportunities, overcome obstacles, and welcome change within all sectors to succeed within the payments industry.
Gary stressed his philosophy that education and intellect are less important than the ability to identify opportunities, and having the courage to act on them. In payments, for instance, Gary described the industry and “archaic” and “antiquated,” suggesting that the terrain is ripe for disruption.
“A lot of people don’t use coal anymore…but there was a time when our countries depended on using coal,” he said, relating to a substance to the payments industry’s outmoded infrastructure. “My experience in the last nine has been people using excuses for the inefficiencies in payments, instead of confronting that there is a massive leakage issue in payments.”
As Gary points out, finance is a fast-changing space. Those who stand to profit from that change are the ones who will be willing to embrace it and leverage it, rather than sticking with outmoded practices and technologies.
You can watch the full video below: