Paulette Rowe CEO at Stax Payments … Trailblazer Series featuring “Women of Impact”

You're listening to Bridges to Excellence.

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Inspired leadership in

payments and fintech.

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Track 1: My philosophy is if you want to

do great things for your customers, if

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you want to change your industry or, even

the world, you need to be clear on your

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mission, vision, and values as a company.

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You need a purpose, you need a North star.

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And that's where I center my leadership.

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And so at Stax, we're talking about

our North Star being, about providing

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our partners and the merchants.

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We serve with the fastest path to growth,

through our embedded payments, solutions.

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Welcome to Bridges to Excellence Podcast.

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Inspired leadership in

payments and fintech.

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Bringing you conversations

with payments most fascinating

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people on top of their game.

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Leaders, influencers,

experts, and innovators.

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Each weekly episode turns our

guests wisdom into practical advice.

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Their personal journey starts now.

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are meant to inspire and challenge

you to explore your possibilities.

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Here's your host, Desmond Nicholson.

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In this episode, part of our Trailblazer

series featuring Women of Impact, I'm

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talking to Paulette Rowe, the CEO of

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over $30 billion in payments and

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serve more than 30,000 businesses

while based in London, Great Britain.

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Paulette was previously the

CEO of Paysafe's Integrated and

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e-Commerce Solutions Division.

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She's a seasoned global executive

with strategic leadership experience

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across banking, Payments and FinTech.

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Paulette has held senior leadership

positions with organizations such

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as Barclays, Facebook, Royal Bank of

Scotland, NatWest, and GE Capital.

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Paulette is considered a strong

advocate of diversity and

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inclusion in the payments industry.

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She has the reputation of having

a tenacious approach to running

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businesses and teams with an unwavering

dedication to creating and nurturing

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an inclusive working environment.

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Widely recognized as a prominent

figure in financial circles.

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Paulette has earned multiple

accolades, including being listed in

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the digital banking club's, power 50.

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A list of the most influential leaders

in European financial services.

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Also recognized as one of the most

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Power List by Powerful Media voted

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her one of Britain's top 10 most

influential people of African and African

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Caribbean heritage for the second year.

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Also, name one of 100 Executive

Women in tech to watch in

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Paulette earned her MBA at the

prestigious Insead Business School, often

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listed as one of the top two business

schools in Europe, An accomplished

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executive with a breadth of experience.

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Paul understands the complexities

of the industry and inspires

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teams to greater success.

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A direct quote from Ross Crawley,

founder and CEO of GSV, and chairman

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of the board at Tax Payments.

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With that being said, I hope you choose

to come along on this journey with us.

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Enjoy the episode.

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Desmond Nicholson: Paul,

welcome to the show,

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Track 1: Welcome, Desmond.

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I dunno what to say

after that introduction.

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Thank you.

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Incredibly flattering.

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Desmond Nicholson: Uh, it, It's,

it's great to have you here on the

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show, and thanks for your time.

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Track 1: Oh

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Desmond Nicholson: Now,

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Track 1: pleasure.

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Desmond Nicholson: further ado,

let's get into it, shall we?

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Track 1: Absolutely.

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Desmond Nicholson: Okay.

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In starting, can you give us

an introduction overview of

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Stax Payments, your functional

role, and who do you service?

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Customers, clients, and

partners in the payment space?

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Track 1: Yeah.

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Well, Desmond, I think you captured

a lot of it in your introduction.

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So I joined Stax in August as

the Chief Executive Officer.

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Stax has had a formidable history.

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It's grown high growth consecutively

for several years, and, reached

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that, unicorn status that so many

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Uh, but Stax at its heart is a

payments technology company and, we

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have a direct book of businesses.

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So we work with small and medium sized

businesses and offer them, payment

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solutions, but we also partner with

software companies and, Independent sales

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organizations, ISOs, and with all of them

we're enabling flexible, multi-channel

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payment processing and invoicing

solutions that we hope, helps them to

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unlock new revenue streams and drive,

growth and, success for those businesses.

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And as you mentioned, we have 30,000, uh,

customers and still growing strongly.

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Good.

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And of course, we'll circle back later

to unpack some of your salient points.

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Now, Paulette, take us to the important

context of your childhood, your early

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life, that is where you grew up, and

what your life was like growing up.

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Track 1: How, how long do we have ? So

I guess the first thing to say is, you

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probably guess from my accent that,

I was, born across the, the Atlantic.

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So I was actually born in and raised

in, London, London, England, as, you

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Americans like to say, I was one of two

daughters of a Jamaican, nurse who'd

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immigrated to the UK in her, teens.

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and I guess that, link back to the

Caribbean was kind of the, start

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of me being very interested in all

things cultural travel and really

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understanding that, the UK in

particular is a real melting pot.

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when I was 16, I was one of two

girls admitted to a boys' school.

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a long story as to why that happens,

but, I wanted to study maths and,

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science and, it wasn't possible

to do that at my own school.

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so I went to this, boys' school and then.

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Post that, at university I

studied, mechanical engineering.

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and there too, I was the only woman,

and not only the only woman on my,

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degree course, but also the only, black

person on my degree course as well.

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And I, I remember one of the things

that really stuck with me was

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being in one of those tutorials

very early on in, the degree where

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the head of departments said that.

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And remember I was the only woman.

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He, pointed out that, all of the boys,

the men on the course were sons of,

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in his words, captains of industry.

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And he was somewhat fascinated by the

fact that, some woman who was the,

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daughter of a Jamaican nurse, yeah.

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And had been raised by a single

parent had made it onto the course.

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And, he sort.

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Suggested I would be a little

less likely to succeed I had a

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very happy upbringing in London.

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it was challenging in many

ways being from, an immigrant

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family with a single, mother.

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but I was always brought up

and taught to, know that, being

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different is actually a strength.

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And, nothing to be, ashamed

of or intimidated by.

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and I guess from a very early age,

as you've heard, I was thrown into,

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working with a group of people who on

paper I had nothing in common with.

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So I learned from a very early

age, how to, rub along with

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people of all sorts of backgrounds

and build strong relationships.

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Desmond Nicholson: Multicultural.

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Track 1: Absolutely.

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Desmond Nicholson: Where

did you go to university?

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Track 1: I went to, Birmingham University.

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it was one of, I think four or

five universities in the UK at

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the time that did this enhanced,

mechanical engineering degree.

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So it was four years full time.

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Plus I did, management and

studied, French, alongside it.

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So it was, quite, an exceptional course.

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and, Birmingham was . Quite,

quite a nice place to study.

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It's a beautiful campus

if you ever get to, visit.

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Desmond Nicholson: Now,

you got your MBA at Insead.

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Track 1: Yeah.

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Desmond Nicholson: Insead and

London Business Schools are

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often considered two of the most

reputable MBA programs in the world.

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I guess we may also throw in

Harvard as a third for safe, uh,

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Track 1: absolutely.

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Yeah.

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Desmond Nicholson: However, Insead and

LBS are typically thought of as the

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top two business schools in Europe.

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What led you you getting into MBA program

why Insead not London Business School?

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Track 1: Yeah.

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Well, I have a quick confession,

which is I applied to one business

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school, and that's very unusual.

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Usually when people want to go and

do an MBA, as you said, there are a

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number of great schools out there, so

they apply to a variety of schools.

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In, my case, I knew I wanted to

go to Insead, and it comes back to

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that sort of multicultural, really

interested in meeting people from a

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variety of backgrounds, and so Insead

as well as being ranked as amongst

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The best in the world is a truly

international school, and in my year

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there were 27 different nationalities

at Insead in my promotion, sorry,

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as they refer to it at insead.

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and not only that.

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But you had to speak three

languages in order to graduate.

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So for us, Britts, that was

a bit more of a challenge.

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'cause, 'cause often, you know, we

spoke English, tick you might speak

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French, which I did tick, but the

third was a bit more of a challenge.

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So I studied Spanish, while I

was there and, had to pass the

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Spanish exam in order, to graduate.

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But also going to Insead was part of

my general love affair with France,

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Paulette, as, your listeners may

know, is actually a, French name.

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It's a very old French name.

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It's a little outer fashion, these days.

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And, I remember at 11 reading about

Paulette in my French school books.

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And from then on.

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being very curious about all things France

and the Insead campus is, based in some

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of the most beautiful French countryside.

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So it was, just a lovely environment.

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It was great to hang out with such a

diverse group of brilliant students

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and, honestly, one of the highlights

of, my time on this earth so far.

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Desmond Nicholson: Beautiful

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Track 1: I.

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Desmond Nicholson: Okay.

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Now, what has been your career

path prior to, payments?

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Track 1: Yeah, so coming out

of insead, I joined GE Capital.

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You mentioned GE Capital in, the

introduction, and I was moved to

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Connecticut as part of their global

leadership development program where

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they'd gone around the world and

selected people from some of the

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top business schools in different.

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parts of the globe.

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It was a great time to join GE.

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They were growing their financial

services arm, uh, globally.

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and I got to travel all

over the, world with them.

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I, I remember being invited to go

on one of the largest acquisitions

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GE had ever done in, the

financial services space in Japan.

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Which was, again, back to multicultural

experiences that was just a really

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brilliant thing to do as a, recent MBA

graduate, After my time at GE, I ended

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up working for them, as I said, in a

number of markets spent, three years

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working for them in, France, for example.

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I joined RBS NatWest, I returned

to, the UK and RBS NatWest is one of

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the four biggest banks in, the UK.

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Um, they had just, come

together as, two brands.

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And I joined the retail banking

executive of what was then.

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It has changed a lot, but since,

but what was then a very male and a

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very Scottish, executive committee.

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so I was

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more than a little surprised when I

was three years or so into my career

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at RBS NatWest, they, they pro wanted

to promote me to be the Managing

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Director of the NatWest retail division.

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So that was.

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branches and 20,000 employees.

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It was, the jewel in the crown

of the RBS NatWest, uh, business.

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And so I , I was a little, to be

honest, I was a little terrified about

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being given this huge responsibility.

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And, uh, I actually said no.

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I said, no, no, thank you,

was my first response.

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And then, I, chatted to a, friend

and she was like, you know, pull

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yourself together, you know, they

wouldn't be offering this to you

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if they didn't have the confidence

that you could do it, and you should

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have the confidence in yourself.

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So, I came to my senses and took the job.

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And, shortly after I, moved

from RBS, one of my, jobs after

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that was, moving into payments.

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So, I did a couple of things in

the FinTech space and then got

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approached by, Barclays, another

one of the major UK banks to run

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their merchant services division.

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which at the time was processing one

in three card payments, across the

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UK and was the second largest . Still

is the second largest processor

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in Europe behind, Worldpay.

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So it was, a fantastic time.

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that was the end of

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And, you've got tons of payments

experience, so you'll remember

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that, it was, around that time that

things really started to accelerate.

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in terms of, digital payments,

Worldpay had moved out of RBS NatWest

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into, PE hands, and there was a lot

of money coming into the sector, A

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lot of new fintechs, starting up.

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So I'm really proud of the fact that

by the time I completed my tenure.

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Um, running, the, Barclays, uh,

merchant services business, we had

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still managed a, against that backdrop,

we still managed to grow market share.

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and I'd also led the transformation

of the platform, which was . 30

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years needed to be retired and

replaced with new technology that

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would allow us to meet the needs of

Omni-channel and e-Commerce, et cetera.

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and so by the time I left there

to join, uh, Facebook, we were

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processing 250 billion sterling,

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Desmond Nicholson: Okay,

so, now what about Paysafe?

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Track 1: Yeah, so Paysafe is obviously

part of that, payments career.

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So I went from running the Barclays

book to joining Facebook now Meta, as

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everyone knows, and running the, Financial

services and, payments partnerships team.

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and then I had worked at Barclays

with a superb, boss, Philip McHugh,

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who had recently joined Paysafe.

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And he reached out to me and said, I.

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Would love you to join my team again.

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So I went in to be the, Divisional CEO of

the integrated and e-Commerce, division,

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which was actually a brand new division

that they were creating to go after that

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integrated, embedded payments, market.

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so yeah, I was there for three years,

working with Philip and, a few of my other

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ex Barclays colleagues, joined as well.

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Good.

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We have come full circle.

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now the CEO of Stax payments.

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I read someplace where you stated

that you love the Stax startup story.

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What is it about the story you found

compelling that got you really energized?

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Track 1: First of all, I hugely admire

the story, of, you know, Sal, that

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the Stax founders who, basically went

into the ISO industry with a different

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model, with a software first approach,

and, a subscription, model that hugely

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simplified billing for small businesses.

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And were able to, as we've both talked

about, grow that business, um, rapidly

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over a relatively short period of time.

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And if you get a chance to look at

the Stax, front-end tools, they are.

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Beautifully designed, that sort of focus

on, user, experience and being a sort of

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technology slash software first company

really comes across in, those Stax tool.

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Um, and, getting to, unicorn status,

to also people of immigrant heritage.

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who and a woman, CEOI mean,

it was a fascinating, story

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and, just a huge achievement.

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But the other side of it, the other

bit that got me energized is actually.

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the investment by Greater Sum Ventures

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GSV, who you mentioned, and Ross Croley,

they have as an outfit, have proven time

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and time again that they are masters

of creating value in, the SaaS space.

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And they're also entrepreneurs.

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You know, These are

people who've been there.

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Built businesses, sold businesses

and, have used their expertise

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to help other entrepreneurs grow

their businesses along the way.

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And so with their help stack

saw the potential of embedding

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payments as this huge growth area.

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so in addition to, going the

traditional ISO route of, going

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after small businesses, Stax has

been pivoting to work, with ISVs

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alongside our direct offering.

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And so for me, having come from Paysafe

where a lot of my time was in that

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embedded payment space, as I mentioned,

seeing the potential, how much this

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market is, growing, and how much it

really simplifies things for smaller

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businesses that they can have there.

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Payments and software in, one solution.

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I was just, yeah, hugely excited,

to be part of that, journey.

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And I guess the last thing, and

I know it's a long answer, but

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there's a lot to be excited about

it Stax with GSV and the board.

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There is a vision that I absolutely

share for being more than an ISO.;;

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And in fact, we're on a journey where

we've moved from being just an ISO.

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To, a payfac, to now very much on

this transformation to become a

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fully fledged payment processor.

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ultimately owning more of our,

technology and owning the payment

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rails that, that support us.

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And I think that's hugely important

because, so many fintechs out there,

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they've invested in the front end.

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they've got a reasonably good front end,

obviously maybe not as good as Stax, but

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they've got a reasonably good front end.

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But everyone is using the same

legacy players to support,

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the payment processing.

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and that I think limits innovation.

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It limits potentially speed to market.

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And whilst, I have huge respect

for those, the big names that

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have consolidated and grown

considerably over the last few years.

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it's hard to imagine that they're

going to be able to provide

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the same level of service.

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to smaller and mid-size, uh,

companies that they, have been

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able to potentially do in the past.

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And so we hear a lot from our customers

that they like our flexibility.

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They like the attention that we give them.

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and they like the high touch, service

that we're able to offer that they're

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not, able to get from, the legacy players

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Desmond Nicholson: Okay, now talk

to us about Stax recent acquisition

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of APPS, Atlantic Pacific Processing

System, and what value it brings

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to Stax portfolio and how does its

serve your clients and customers.

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Track 1: Yeah, so it's very much that

the acquisition of APPS is very much

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part of this journey of going from more

of a sort of sales led ISO to becoming a

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payments organization in our own rights.

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And so, with APPS, we have our

own . Bin for those who like to

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get into the technical details.

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and we also have a platform that we are,

um, standing up, it's not live yet, but

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that we can actually process end-to-end

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a transaction, without having to rely,

as I said, on, the legacy, super tankers.

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So it was, the acquisition of

some really strategic technology.

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That will allow, Stax to not only own

our own destiny more and be less reliant

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on third parties, but as I mentioned

previously, I think this means that we

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can become a more flexible, player and,

allow our customers to differentiate

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in ways that they may find more

difficult to do with other partners.

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and then along with the APPS acquisition

has come a lot of additional really

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deep, payments, knowledge in terms

of some of the people there, they've

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been in payments for 20, 30 years.

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They know everything about how

the payment process works from

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A settlement, clearing a settlement

point of view, for example.

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So that's just been a marvelous addition

to Stax where you have people who

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really understand software and the, the

user builds in great user experience.

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We've got great technologists and

we've also, but built a team around

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some very deep, payments expertise.

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Desmond Nicholson: Okay, let's

segue into your personal style.

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Track 1: Oh, okay.

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Desmond Nicholson: How would you

describe your leadership style

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and the philosophy behind it?

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Track 1: So going back to my GE days,

I was introduced to a very simple

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model called the four Es and the

E were Energy Energize Execution.

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and Edge.

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And to be honest, it's one of

the simplest leadership models.

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I've learned along the way and I've

been exposed to many of them, but it's

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the one that I probably is my go-to.

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because I think, those four things

in a leader are extremely important.

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And then the fifth that I've kind of,

Put more emphasis on over the years

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from my point of view is empathy.

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My philosophy is if you want to do great

things for your customers, if you want

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to change your industry or, even the

world, you need to be clear on your

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mission, vision, and values as a company.

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You need a purpose, you need a North Star.

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And that's where I center my leadership.

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And so at Stax, we're talking about

our North Star being, about providing

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our partners and the merchants.

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We serve with the fastest path to growth,

through our embedded payments, solutions.

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and I also believe, and thank you

for touching on this in the intro,

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that being different is a positive.

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And that's why, It's not just

about the technology, it's also

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about the people that you hire.

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and I am passionate about diversity.

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I am passionate about inclusion.

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;';;';';And so for a company that was

started by the son and daughter of an

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immigrant to A CEO now, who is also

the daughter of, uh, an immigrant, I

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have six women on my leadership team.

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you know, I would challenge many

other, tech companies to have

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that kind of, gender diversity.

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Um, and HRSI.

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Uh, they have a diversity

and inclusion organizational

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certification, so I'm really proud

that, Stax qualified for that, for

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And so to me,

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that mix of a clear purpose, bringing

the five Es as a leader and making

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sure all of my people leaders, think

and work through those five E's, and

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then going out and getting the best

talent regardless of background.

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Those are the things that, I

think have helped me be successful

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in the past and will help Stax

continue to thrive in the future.

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Desmond Nicholson: Okay.

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is there a common theme in your career?

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What threads can we find between

the various things you've done?

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Track 1: Yeah, it's a really

good question and I think the.

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Desmond Nicholson: I.

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Track 1: When I think about it, the

most obvious, thing that sort of pops

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into my head is I enjoy being part of an

ecosystem that drives commerce, because

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commerce directly touches consumers,

and I've enjoyed being in spaces that,

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that really almost every consumer.

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Interacts with in some way.

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If you're in financial services and

you are in payments, you are, touching

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millions and millions of customers.

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And, when I joined Facebook, just

knowing that, billions of people were

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using the Facebook apps was, something

that really, energized me, that you

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can do something that's going to.

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be used and enjoyed and make a

difference hopefully to so many, people.

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and I like the fact that I can experience

my product in my everyday life.

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I can go into a shop and I can make a

payment and I know what that feels like.

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So that's something that

I've really enjoyed.

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And just generally speaking, if you are

connecting buyers and sellers, which

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is what we do, Desmond in payment, I.

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I think that is, and helping them, help

remove the friction, but also helping

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them transact safely and securely.

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'cause, fraud and, all those

things are just as important.

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that to me is the way in which you

help not just the business to grow,

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but ultimately the economy to grow.

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So, yeah.

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it's big picture stuff, but

I think sometimes that's what

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you have to remind yourself of.

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You're not just there to.

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Your board or your customers, et cetera,

you are actually contributing on a much

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grander scale to helping the whole economy

grow by connecting buyers and sellers.

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Desmond Nicholson: Absolutely.

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Now, Dr.

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Vanessa Weaver, DEI, expert and

founder, of Alignment Strategies,

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has done extensive studies around

a model called pi PIE, and I've

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heard you talked about it before.

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Can you tell us what PI is at its

fundamentals and how its practical

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application as a tool can be put to

work in one's career advancement?

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Track 1: It is so funny that you raise

PIE because anyone who's worked with

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me probably knows that when I mentor,

when I'm asked to talk about things

421

that have been important in my career, I

always reference the pie model because I

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think it is, Something that just simply

works and everyone should think about.

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So, you know, pie stands for

Performance, Image and Exposure.

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Sometimes I use the E to say

executive sponsorship, depending

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on, the level of the person that I'm

mentoring because, exposure in on

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its own might, might not be enough.

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and the whole idea behind PIE is.

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Yeah.

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If you say and let me test this on you,

Desmond, but you've read it so you'll

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probably know the answer, but Yeah.

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If you ask most people what, yeah.

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The root to your next promotion,

how important out of a hundred,

433

how important is performance?

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Yeah.

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Desmond Nicholson: I would say 50%

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Track 1: Yeah, exactly.

437

Exactly.

438

Most people are going to say

it's at least 50% in fact.

439

And, and this is what we find is

some of the differences sometimes

440

between female and male executives.

441

Women are very focused on, Hey,

it's just about how I perform.

442

But the PIE model kind of throws

that on its head and says, everyone

443

has to perform it's table stakes.

444

So once you are performing,

actually that becomes . 10%.

445

Of what you need to do to get

promoted because you know there's

446

a pool of people who are all doing

well, who are all performing.

447

So then you need to think

about the other two.

448

You need to think about your image and

you need to think about that exposure.

449

And let's say your image is about . 30%.

450

So image is not necessarily what

you're wearing, but more about do

451

people see you as a future leader?

452

Do they see you in that next role?

453

Are you seen as contributing

outside of your role in terms of

454

helping the company more generally?

455

Maybe taking part in, employee resource

groups, just mentoring other people.

456

And then the exposure

is, do people even know?

457

Opportunity, do they know

that you are performing and

458

what you've contributed and.

459

Is something that really rings true.

460

both as a people leader myself,

but also in my own career.

461

I've, seen times when I've just

had my head down and been working,

462

working, working, that that hasn't

necessarily led to me moving as

463

quickly as when, yes, I'm performing,

but I'm also carving out a little

464

bit of time to make sure that people

understand, hey, this is what I'm doing.

465

And, creating a network.

466

Desmond Nicholson: Now since exposure

is such a big factor, what kind of

467

tips you would give to people, um,

to really enhance their exposure?

468

Track 1: Yeah.

469

So first of all, you've got to find the

time and that can be very difficult.

470

And it can be difficult if you

are a parent or if you are looking

471

after elderly parents, you know,

you've got commitments at home.

472

And so what I've tended to find, and

Don't mean to generalize too much, but

473

I tend to find that women spend less

time on that aspect of their career.

474

So I would join, and particularly if

you are a woman, there are so many

475

networks now that are available,

through, organizations like the A

476

TPC, ETA, American Banker, um, and

sometimes, People will say, oh, I

477

don't have the time, or I don't want

to be involved in a network like that.

478

I don't see the point.

479

I would say just do it.

480

Go.

481

'cause you'll meet some

incredibly talented people.

482

You'll meet, allies along the way who

want to support and find the next talent.

483

And so being in those

networks are important.

484

I always, tell people you have to have

your one-to-ones with your line manager.

485

There are line managers who don't

necessarily find the time or

486

enjoy having one-to-ones, and they

may put them on the back burner.

487

I've always been that pain in

the dairy air for line managers

488

who've said, . No, we need time.

489

And that time is important

because A, you need the feedback.

490

Yeah.

491

If you are not sat in front of them,

hearing from them directly what

492

they really think about the job that

you're doing, you could think you're

493

performing and they may think I.

494

Something very different.

495

But also it's an opportunity for you to

tell them about your career aspirations

496

and where you need help and what things

you want to do next, and get them on board

497

with how you want your career to progress.

498

So to me, those are, yes, the

networking is super important and

499

there are lots of, good, networks

out there that you can join.

500

But the other thing

is, network internally.

501

Speak to your line manager, speak

to HR and speak to leaders in other

502

parts of the business when you can.

503

Because often as you'll know when

promotions, et cetera are being discussed,

504

it requires more than one person

to, be rooting for you in that room.

505

Desmond Nicholson: Now

you've touched on networking.

506

your network is your net worth.

507

You are the average of the five

people you spend the most time with.

508

Now, these are quotes that have

gained traction over the years.

509

Do you buy to them?

510

Track 1: I definitely believe in

networking and, . I've been amazed at

511

how many times I've been able to, reach

out to people that I've worked with

512

in the past or simply met through, a

networking, group and yeah, had some

513

. Invaluable advice or they've helped me

solve a problem or they've just, helped

514

me get my head straight on something.

515

The other quote, , about being the average

of the five people, I need to think about

516

because, true to diversity and inclusion.

517

I like spending time with all sorts of.

518

So, that one I'm a little less

sure of, but No, absolutely.

519

I think the friends you surround

yourself with are very, very important.

520

And when I mentioned when I was, offered

the MD role at NatWest this huge job, as

521

I talked about a few minutes ago, it was

one of my friends, now that friend could

522

easily have said, Hey, you know what?

523

Yeah, you are right.

524

You are not ready.

525

You are way too confident.

526

You need more.

527

No.

528

Instead of that, she was like, Paulette,

what's the worst that can happen?

529

And if it doesn't go

well, we've got your back.

530

We still love you.

531

And that's the sort of thing that

I think is incredibly important.

532

Desmond Nicholson: Now, given your

experience, what advice would you

533

give to women just coming into

the payments FinTech Industry

534

Track 1: Well, I would say,

it gets better and better.

535

So, it's still tough.

536

I still don't see as many women

apart from in Stax where I

537

think we're doing, a good job.

538

but I.

539

We'd like to see more women.

540

And so first of all, I would say do it.

541

It's a great industry to be

part of It is getting better.

542

I think a lot of companies are conscious

that they're losing out on some incredible

543

talent by not casting their net wider.

544

I've talked about some of the fantastic

networks that are out there that,

545

organizations like the ATPC, ETA,

American Banker, go online, get

546

involved with these companies, go

to the conferences and meet people.

547

Um, and 'cause if you're not

making headway where you are,

548

there are so many new companies.

549

There are so many companies

that are growing fast.

550

There's so much change still in

this industry that there will be

551

other opportunities for you to grab

hold of and, thrive in your career.

552

Desmond Nicholson: So what can women

in payments do to advance they feel

553

stuck in place the career ladder?

554

Track 1: I think if you feel stuck,

it's, it sort of goes back to some

555

of the things that I just shared.

556

So first of all, go talk to people,

let people know that you are

557

looking for the next opportunity.

558

So I'm not saying say go and whinge,

but go and be very proactive about,

559

Hey, I've been doing X and it's, I

feel it's time for me to do something

560

new and be as specific as you can

be about what that looks like.

561

And if you don't know, go research it.

562

Figure out what sort of

opportunity would suit you next.

563

And I think it's also about,

There are times when you know,

564

the opportunity just isn't there.

565

The job that you want is not available.

566

I always say that in large companies you

either get promoted too early or too late.

567

Exactly the right time.

568

Desmond Nicholson: Time.

569

Track 1: So while you are thinking about

your move or while you're waiting for that

570

move, find a project, find a strategic

project, volunteer to do something.

571

Do something that's gonna help you

learn a new skill that's maybe going

572

to get you into a new environment.

573

Get you working with new people.

574

It's going to help with your exposure.

575

Going back to PIE, all of these things

are, filling up your piggy bank so

576

that you can move forward as soon as

that opportunity, presents itself.

577

Network, network.

578

Talk to HR talk to other leaders.

579

Make sure that everybody knows that you

are looking for your next opportunity.

580

As a quick example, when I joined,

RBS NatWest, I went in, I was

581

running, products and marketing

for the NatWest retail brand.

582

I then felt that I wanted to be a general

manager, that I had the skills to be a

583

general manager, and one of the boxes that

I felt I needed to tick was a sales box.

584

I just made that EV known.

585

To my line manager, to HR, et cetera,

and I would just, say if something

586

comes up where there's an opportunity

for me to go and run a sales team.

587

I would love to do that.

588

And here's why, and here's why I think

you should give me that opportunity.

589

And lo and behold, after a few months,

a, one of my colleagues retired

590

and I got moved into, that role.

591

So I went from running, a team of about,

two, 300 to taking on a team of over a

592

thousand sellers and that it was that job.

593

Got me promoted into the MD role.

594

If I hadn't had that experience, I don't

think they would've thought I was ready

595

Desmond Nicholson: Sure.

596

Track 1: do the much

bigger retail banking role.

597

Desmond Nicholson: Now, Paulette, what

aspect of your personality do you think

598

has been the most helpful in your career?

599

Track 1: I think I'm very adaptable.

600

. So, starting all the way back from

being from, the daughter of a Jamaican

601

nurse, coming from, an underprivileged

background in London to . being at

602

Insead with all of these, amazing people

from these different nationalities.

603

You know, being in an engineering school

where I was the only woman, only, only

604

black person on my course, it's that

ability to adapt, which to me is to

605

show flexibility, to show empathy.

606

And to also show, um, resilience as

well, because let's face it, sometimes

607

these things are a challenge at first.

608

You've got to build relationships,

you've got to build trust.

609

People are suspicious

sometimes of difference.

610

So, yeah, I go with adaptability.

611

Desmond Nicholson: Good what

is the biggest threat to the

612

payments industry right now?

613

And conversely, what is

the biggest opportunity?

614

Track 1: I think there is tons of

opportunity, um, because again, that

615

process of connecting buyers and

sellers is not going to go away.

616

It's going to continue to transform

as consumers demand more convenient

617

ways to pay as retailers want

to provide better service and,

618

less friction to their consumers.

619

So I think the opportunity is

there to continue to innovate, to

620

use new technologies, you know.

621

AI is on everybody's lips, but there

are going to be, I think, some really

622

interesting ways to use, AI technology

internally to improve efficiency, but

623

also, potentially, using AI to enhance the

service to merchants and then merchants

624

to pass that on to their consumers.

625

Coming from Europe where there

was a more accelerated adoption of

626

some of these payment technologies.

627

There are things like faster payments

that have still really got to take

628

hold in, in the US, which is pretty

much mainstay now in, the UK, instantly

629

paying from your bank account.

630

That could be seen as both an opportunity

and, a threat in the payment space.

631

If it, depending on how

you talk about payments.

632

If you're thinking about

payments as only being cards.

633

Then yes, there are going to

be other ways to pay than using

634

your debit and your credit card.

635

Digital wallets, faster payments

will be, I think, become a big thing.

636

But payments as a whole, that pie is

just going to grow and grow And just

637

coming back to embedding payments in

software, which is where Stax is firmly

638

focused, that is growing so fast and

we see new verticals every day that.

639

People are saying, actually, I can

build software for this application

640

for this type of merchant.

641

And if I can add payments to

that, that's just going to make

642

their life a whole lot simpler.

643

So big thumbs up for staying in payments.

644

Desmond Nicholson: Good What are you

most excited about Stax's future.

645

Track 1: Well, I think,

first of all, it's the, um.

646

It is about this ISV space, integrating

payments with SaaS, providers.

647

It's about the journey

that, I've talked about.

648

So moving from this path that we're on,

and we're making good progress on between.

649

ISO payfac to fully

fledged, payments provider.

650

and there's that whole opportunity

to take what we do to, to an

651

international stage as well.

652

So yeah, just.

653

Lots of opportunity.

654

And, one thing I haven't touched

on is some of the value added

655

services that we have at Stax.

656

So we have, a very, . A well-known

compliance Surcharging solution,

657

calls Cardex under the brand's,

Stax, sorry, Cardex provided by Stax.

658

I'm sure my CMOs going to, beat me

up for, not getting that quite right.

659

But that is, yeah, that's another

way in which we can help our

660

partners and our merchants, reduce,

costs and offer, more flexibility.

661

And then we're also a center of

excellence in recurring payments,

662

we offer a subscription payments

to our direct merchants, but we

663

also offer subscription software.

664

To our partners.

665

going back to the future of payments,

I think subscriptions is one of the

666

things that's just going to continue

to grow, in terms of convenience.

667

And that becomes a, another way of

offering our partners other avenues

668

to generate revenue and reduce cost.

669

Desmond Nicholson: Good.

670

We now move into our final segment.

671

Track 1: Ooh.

672

The lightning round bridges to

excellence, inspired leadership

673

in payments and fintech.

674

Desmond Nicholson: Paulette.

675

in segment, I pose these rapid fire

questions and you respond with a

676

single word or a sentence or two.

677

Are you ready?

678

Now, if we ask your friends,

What is one thing they would

679

say is most different about you?

680

Track 1: I was gonna say

adaptability, but I've used that.

681

So how about consistently positive?

682

I think I do a good job

of being half glassful.

683

Most of the time I.

684

Desmond Nicholson: Okay.

685

What is the one thing you've never

done but have always dreamt of doing?

686

Track 1: Oh my goodness.

687

I've traveled a lot, and I have a friend

who's visited a hundred countries.

688

I think I'm in sort of high sixties,

so I would love to, achieve that,

689

that milestone as well and visit

a hundred countries that I think

690

just seeing more of the world is

one of the best things you can do.

691

Desmond Nicholson: What is the best

career advice you've ever received?

692

Track 1: Well, guess

what, Desmond, it's PIE.

693

I actually think if, if there's one thing

to take away, if you listen to one thing

694

that, I've said on this call, I would

say PIE is an extremely useful tool.

695

Desmond Nicholson: How would you

define yourself in one or two words?

696

Track 1: not consistently positive, but

no, I think always up for an adventure.

697

yeah.

698

Up for an adventure, whether that

be, an adventure in business in terms

699

of being part of the Stax pack and

going on this incredible journey.

700

but also in life, you know, taking time,

as I said to, to travel to meet people.

701

Uh, yeah, I love it.

702

Desmond Nicholson: What is the

one talent you wish you had?

703

Track 1: when I moved here, the flat

or condo, I think as it said, over

704

here that I moved into, has a piano.

705

Desmond Nicholson: in.

706

Track 1: I matter to play.

707

So that could be a good goal.

708

Desmond Nicholson: Good.

709

What Cause that is important to you.

710

Track 1: Well, look, we've talked about

DEI, so that, goes without saying.

711

but, I sit on the board

of a water utility.

712

I.

713

And, that has really spurred

my interest in climate change.

714

It's unbelievable, how this is affecting

the water supply, not just in the UK but

715

in other countries, around the world.

716

So, I've been trying to, learn more

and, in my role as a board have,

717

a little bit of an impact there.

718

Desmond Nicholson: Okay,

what's your guilty pleasure,

719

Track 1: I would say , if you

haven't watched it, you should.

720

RuPaul's Drag Race.

721

I just love that program.

722

It is so life affirming, and

um, yeah, it's great fun.

723

Desmond Nicholson: Okay.

724

Now the final three questions.

725

What's something you notice about

someone when you first meet them?

726

Track 1: I think it's gonna, I

have to say height for two reasons.

727

One is post covid.

728

Obviously we all talk

to each other on camera.

729

And then you meet someone and the person

you thought was tall is small, et cetera.

730

And I'm actually tall, and so

people often remark about my height.

731

So often the conversation

starts about, oh, you are

732

taller than I thought you'd be.

733

Desmond Nicholson: Okay.

734

what's heavily played on

your music list right now?

735

Track 1: Okay, so my partner is in charge

of, music and he has everything on his

736

playlist from like in Vogue to, he was

playing the soundtrack to the Rocky Horror

737

Picture Show the other day, and Mumford

and Science, I mean, it's so eclectic, so

738

it's hard to pick one thing because he's

constantly changing what we listen to.

739

Desmond Nicholson: Hmm.

740

Okay.

741

And last, what drives Paulette?

742

Track 1: Making a difference and

all the better if that difference

743

is about, involves learning

and experiencing new things.

744

Desmond Nicholson: Paulette.

745

It's been fun.

746

A trailblazer indeed.

747

Any parting thoughts to share

or comments before we wrap up?

748

Track 1: As you said, it's been fun.

749

Thank you so much.

750

some great questions.

751

just like to, thank you for the time

752

Desmond Nicholson: Paulette, again,

thanks for being part of our trailblazer

753

series, featuring women of impact

and best wishes in your new role.

754

Track 1: Many thanks.

755

Desmond Nicholson: listeners,

thank you for your time as well.

756

And never forget the more you expect

from yourself, the more you excel.

757

You've been listening to Bridges

to Excellence podcast, inspired

758

leadership and payments and fintech.

759

Be sure to join us next time for more

conversations with another of your

760

colleagues in payments and fintech.

761

Insightful conversations in their

journey to excellence for transcripts

762

and other materials covered on the show.

763

Visit us at DesmondNicholson.

764

com.