Fintech Insider Podcast by 11:FS
00:00:04 · Benjamin Ensor
[00:00:04] S0: From eleven f s, this is Fintech Insider News, and I'm your host, Benjamin Ensor, director of research and strategy. Thank you so much for downloading this podcast. If you like what you hear, why not recommend it to a friend? This week, we're talking about JP Morgan's former head of fintech launching TodayPay, which is intended to try and solve the problem about how long it takes to get refunds. If you buy the wrong thing, it can take days or longer to get the refund. You end up watching your credit card bill to work out, have I been refunded yet? Airwallex expands further into Latin America following its acquisition of Mexpargo. And we talked about the fantastic potential not only of the Mexican economy, but about making it easier to move money between Mexico and its big trading partners like The United States and Canada. And Money twenty twenty plans to get into the software game with the launch of its 20 fold platform, Where Money twenty twenty is trying to expand from just being a once a year or a couple of times a year event into a continuous community where people who've previously attended Money twenty twenty events can find other people, find new investors, find new businesses through the new 20 fold app, which will hopefully launch next year. We get into all of this and much more on today's show. Back after these messages.
00:01:24 · S1, Benjamin Ensor, Kate Moody
[00:01:24] S1: Launching innovative payment products is only the beginning. Real progress comes from what happens next. Paymentology fuels continuous compounding momentum as a cloud native issuer processor, helping banks and fintechs grow beyond go live with global reach, local know how, and the power of its Loom platform. Powered by more than 500 paymentologists across 68 countries, they make card programs work naturally across markets. Want to keep the momentum going? Head to paymentology.com. [00:02:07] S0: Welcome to episode 798 of FinTech Insider. I'm Benjamin Ensell, director of research and strategy here at ElevenFS. I'm joined this week on Fintech Insider news by my cohost, Kate Moody, strategy director at ElevenFS. How are doing, Kate? [00:02:22] S2: Yeah. I'm very well. Thank you. Seven ninety eight, I mean I know we do these shows all time but I just keep losing track, so that's very exciting. [00:02:29] S0: I know we were on like six sixty six not that long ago, I remember that one for some reason. Have you been working on anything interesting recently? [00:02:37] S2: Lots of very interesting things that I'm not at liberty to discuss. But no, as always, tons of really exciting stuff going on and always useful to work with cool clients just to pass the time in between recording these exciting podcasts. So yeah, lots going
00:02:37 · Kate Moody, Benjamin Ensor, Pranav Sood
[00:02:37] S2: Lots of very interesting things that I'm not at liberty to discuss. But no, as always, tons of really exciting stuff going on and always useful to work with cool clients just to pass the time in between recording these exciting podcasts. So yeah, lots going [00:02:50] S0: Okay. And we are honored to have two fabulous guests today who are gonna help us break down this week's biggest stories in fintech and financial services. So firstly, it's a very welcome fintech inside return for Pranav Sood, executive general manager, Emir at Airwallex. It's great to have you back. Please, can you remind our listeners who haven't met you before a little bit more about, you and your role at Airwallex, please? [00:03:13] S3: Absolutely. And firstly, thank you so much for having me back. I always think I'm gonna be banned after the last time, so it's good to good to keep on getting the invite. We at Airwallex are a payments and financial platform for global businesses. We help our customers to collect money, to hold money, to convert money, and send and spend that money around the world, both for themselves, but also to build embedded finance products for their customers. And, we serve many, many, many customers, including people like Brex and and Rippling and others from the fintech world, but also tens of thousands of SMEs globally as well.
00:03:13 · Pranav Sood, Benjamin Ensor
[00:03:13] S3: Absolutely. And firstly, thank you so much for having me back. I always think I'm gonna be banned after the last time, so it's good to good to keep on getting the invite. We at Airwallex are a payments and financial platform for global businesses. We help our customers to collect money, to hold money, to convert money, and send and spend that money around the world, both for themselves, but also to build embedded finance products for their customers. And, we serve many, many, many customers, including people like Brex and and Rippling and others from the fintech world, but also tens of thousands of SMEs globally as well. [00:03:45] S0: Fantastic. Thank you. I sincerely hope we've never banned anyone from this podcast because if you don't have diversity of thinking, if you can't challenge people, where are you? FinTech is all about diverse thinking and challenging shibboleths, isn't it? So welcome to our next guest, Jeremy Balkin, the founder of TodayPay. Thank you for joining us, Jeremy. We're obviously gonna get into your news a little bit, but can you tell people who've not come across you before a little bit about who you are and what you do?
00:03:45 · Benjamin Ensor, Jeremy Balkin
[00:03:45] S0: Fantastic. Thank you. I sincerely hope we've never banned anyone from this podcast because if you don't have diversity of thinking, if you can't challenge people, where are you? FinTech is all about diverse thinking and challenging shibboleths, isn't it? So welcome to our next guest, Jeremy Balkin, the founder of TodayPay. Thank you for joining us, Jeremy. We're obviously gonna get into your news a little bit, but can you tell people who've not come across you before a little bit about who you are and what you do? [00:04:15] S4: Sure Ben, and thanks for the opportunity to be here. My name is Jeremy Balkan, originally from Australia, live in New York. Most recently led FinTech and payments corporate development at JP Morgan, and then left there to build a startup from the ground up, we announced this week called TodayPay, and we're the world's first refunds as a service solution for marketplaces, merchants, insurance companies, and third party logistic providers.
00:04:40 · Benjamin Ensor
[00:04:40] S0: Fantastic. Well, welcome. Welcome to both of you. Alright. Well, let's get into the news. So our first story is kind of Jeremy's story, which is that JPMorgan's former head of FinTech has launched a new payment technology solution called TodayPay. This was announced at Money twenty twenty and TodayPay is billed as an innovative new payment platform founded by JPMorgan's former head of FinTech, Jeremy, who's just introduced himself. The new refund as a service platform promises to transform the refund process by offering instant refunds via a number of payment options. Though still in self, TodayPay already has some established backers including Visa and Amazon Web Services among others. TodayPay was built to decouple refunds, which Jeremy payment solution from the return. Sorry, which Jeremy says is a payment solution separated from the return, which is a logistics problem. In essence, the new approach to refunds is designed to increase checkout conversion rates, enhance customer loyalty and reduce disputes and fraud. So Jeremy, obviously we're gonna come to you first. I'm sure you can tell us a little bit more about it and how it came about.