"The goal there is to invest in the next generation of fintech products and services for customers' benefit," said a fintech-focused team at a large VC firm. Gebb's team has even partnered with other payments giants, spearheading Amex's launch of Send and Split, which lets customers bundle multiple purchases to split with friends and family on Venmo and PayPal. It also included Amex's partnership with Google to provide and auto-fill virtual card numbers (instead of the traditional 15-digit card number) to streamline online shopping on Chrome and boost security. Some highlights include the firm's work with the fintech startup Philanthropi, which allows some Amex customers to round up purchases and donate funds to charity. Gebb's team was responsible for launching 20 products in 2022. His team incubates new digital products, features, and services via partnerships, from scrappy startups to Big Tech giants. Gebb, the executive vice president of Amex Digital Labs.Īs finance firms debate whether to build or buy new technology to stay ahead of the curve, American Express' Gebb makes a convincing case to partner.Ī 20-year veteran of Amex, Gebb is the executive vice president of Amex Digital Labs. Here are the people at the bleeding edge of innovation at eight top payments companies. Insider spoke to 16 analysts, company insiders, venture capitalists, and recruiters to identify the individuals pushing innovation at the leading payments players as they try to stay on top of the pack. For the well-established payments players looking to defend their turf, sometimes the best defense is a good offense. With competition bubbling up in the payments sphere and downward macro pressure on fintechs and tech companies broadly, the rat race to come out on top has begun. Meanwhile, PayPal laid off about 2,000 workers in January. Fidelity and Principal's Large Cap Growth Fund slashed their valuations of payment-processing giant Stripe. Incumbents at the top of the food chain have faced headwinds. Even companies outside of fintech are getting in on the action, with Twitter applying for regulatory licenses to process payments on the social-media platform.īut it hasn't been all good news on the payments front. If there's a piece of the fintech pie everyone seems to want this year, it's payments.įrom VCs picking it as a bright spot for startups after a dreary 2022 to the biggest banks rolling out a new digital-wallet offering, competition in the space is heating up. We spoke with 16 payments experts, analysts, investors, and company insiders to compile our list.Insider identified the people helping established payments firms stay ahead of the innovation curve.Payments are off to a red-hot start in 2023, with action from big banks, Big Tech, and fintech.
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