MAG Insights

The evolution of payments isn’t just about the payments products and services that evolve supporting how consumers transact at their favorite retailers. A career in payments evolves as well. What are the rewards? What are the challenges? How do you navigate? What advice should you consider? Let’s ask a few payments industry experts about their experience…

I reached out to several leaders in the payments industry to ask about their career evolution. The insights gathered from Alex Ellwood (CMSPI), Sarah Arnio (Walmart), Darrell Demaura (TJX), Kristi Simonett (MAG), Liz Garner (CMSPI), and Eric Vescera (MAG) quickly coalesced into several consistencies. 

First and foremost, career change most certainly comes with challenges and anxiety; however, it is clear the result of change is worth it. 

• “This growth opportunity, while exciting, was a major challenge – a new country, a new culture, and a growing business (which came with lots of fun challenges).”
• “Despite other offers and not knowing anything about payments, I bought into the company’s mission and what [the company leader] had said. Fast forward to today, payments has taken me from the Welsh countryside to Atlanta, via Manchester (and many other trips across the globe to see clients), while constantly learning along the way. Payments has given me an incredibly rewarding and varied career to date.”
• “Throughout the evolution, I learned how to be more flexible; there are some things within your control and others that certainly are not.”
• “This unexpected shift of being laid off led to a career I love, and what it taught me was to just ride the waves…you almost always end up where you’re supposed to.”
• “Everyone I connected with suggested that moving into a [new] role was a unique opportunity for me to expand my skill set, and they were absolutely right!”
• “Despite leaving a great organization to support this initiative, launching - and then scaling the program quickly during the pandemic - was incredibly rewarding because of the number of customers we were able to positively impact. I wouldn’t hesitate to do it all over again.” 

Second, taking a risk is just that – but trust your gut. Also, trust in advice and guidance from leaders or colleagues in your network, which, alongside basic research, can help you navigate the best path for you.

• “I was very fortunate to be with the leading [payments organization] in this transition, supported by an outstanding team and the best head coach I’ve ever worked beside.”
• “The most important lesson learned from this move was the importance of truly researching a company’s culture prior to making a move.”
• “The great thing about building my network … is the wealth of opportunities that exist in the industry.  And with the support of my internal coach and several mentors in the industry, I was able to find a new position that tap into my strengths, provide new learning opportunities, and round out my career.”
• “I took a lateral move within the company in an unrelated field because it was an opportunity for further advancement. This decision was assisted by mentors within the company who helped me understand that the best managers had well-rounded experience in multiple areas.”
• “I spoke with several trusted confidants who had held similar roles in other retail and technology environments and consulted with my direct line manager at the time. Everyone I connected with was very supportive.”

Third, a career path teaches you lessons along the way which help you identify the type of company, industry, subject matter, culture, lifestyle, and people you prefer. While change can be intimidating, a variety of experiences can help you narrow the best future for you personally and professionally. Narrow in this sense isn’t meant to be restrictive or confining but, rather, is meant to enhance the focus toward your leading interests and desires. A career path is, in my opinion, an extension of schooling in the sense it allows you continued learning about the lifestyle, culture, and people that fit you best.

• “After working at a Fintech startup for several years, I knew I wanted to work at a bigger company and realized I wanted to be in a different industry.”
• “After working years in the payments industry and meetings and events, I realized my passion for sales enablement and collaboration…and the importance of building long and trusting relationships.”
• “It became clear to me after several months that the position didn’t align with the strengths I had built throughout my career.”
• “What I learned from this move was the difference between corporate cultures and sales philosophies…having grown up on consultative selling, this [change] was a true culture shock to me.”
• “I felt like I couldn’t grow anymore where I was and wanted to learn more. I invested in myself and took a risk leaving a comfortable role in a company I was familiar with. It is easy to stay comfortable…I decided my family’s future shouldn’t be built on easy and there was more out there for me.”
• “One of the best things about the interview process, especially if able to be in-person, is that you walk out realizing one of two things…either you’re happier than you thought with your current job/industry/company or you feel excitement, challenge, and comfort knowing you could easily fit into the culture of this new company.”

Overall, the advice from those with a varied career path in payments suggests you should embrace change, build relationships, leverage your network, be proactive and transparent about your career interests, explore, and be kind.

• “…don’t be afraid to explore the industry…it is exciting, ever-changing, and provides so many growth opportunities.”
• “Remember the importance of building your relationships and your network.”
• “People will continue to move and grow within this industry and if you’re lucky you will be working alongside many of them your entire career, regardless of where you, or they, end up!”
• “Surround yourself with a network of others who have different perspectives and knowledge.” 
• “Remain open to learning; the landscape in payments is constantly changing, and it’s fun to constantly evolve and learn as a professional.”
• “Identify the leaders of the team you want to be part of, introduce yourself, and understand their line of work better.”
• “Inform your manager and team of your intentions…It is important to be transparent about your career goals.”
• “Step out of your comfort zone.”
• “Learn something about everything, and everything about something.”
• “Embark on each day with an open mind, be coachable, and just be kind – you never know what others are going through.”
• “Ask often what you can help with, even if you don’t have the capacity to help – the gesture alone indicates your willingness to be a team player, even if you aren’t an expert.”

As a membership trade organization with a mission to drive positive change and innovation in the payments industry that serves the merchants' interests, MAG is sincere about fostering an environment that helps everyone in our network progress and improve personally and professionally.  The ability to influence and impact the payments industry through the success of the careers of our members and partners is of critical importance.

That said, we are focused on providing an opportunity for all of you to advance your career knowledge through MAG eLearning, conferences, and webinars.  We offer opportunities to network with peers to either learn more about your current role, explore what could be your next career move, or simply build relationships through networking available at conferences, special interest groups (SIGs) (in-person or remote), and the recent exploration of Rising Payments Professionals which was established to foster the evolution of payment professionals of the future.

How might you take advantage of these opportunities MAG can offer? 

• Sign up for a leadership role in either a SIG, a committee, or a community of practice (COP). 
• Reach out to someone you met at a prior MAG event. 
• Introduce yourself to someone new at a future MAG event.
• Be a mentor or seek one out.
• Contact me or any other MAG staff member for a soft introduction to someone you wish to connect with. 
• Ask questions.
• Share knowledge. 

Be involved!  Be active!  Be present!  Be curious!  Be bold!

P.S. Be kind!