Conversation with Joanne Dewar, CEO of Global Processing Services

Conversation with Joanne Dewar, CEO of Global Processing Services

Samee Zafar
February 3, 2020

Joanne Dewar, CEO of Global Processing Services (GPS), spoke with Samee Zafar (Director, London). GPS is a market-leading processor platform for emerging payments companies and 100+ fintechs, accredited by Visa and MasterCard to process transactions globally.

1. How do you see the payment processing business evolving? What can be done / is being done to deliver value to companies to maintain industry take rates?

There will be increasing moves to take away the complexity of setting up a payments solution. At the moment, there is a stark choice between a ‘One Stop Shop’ which simplifies the setup but can be limiting on flexibility and geography, and full setup, which involves selection and integration with multiple partners to provide processing, card manufacture, KYC, etc. One example of the ecosystem coming together to facilitate this initial set up is the b.yond consortium, which is a collective of service providers pulling together under a single contract to facilitate rapid onboarding for a proof of concept. From the vantage of a working product with customer and investor feedback, fintechs and banks can take the next step to the full partner integrations with added experience and confidence.

2. What do Fintechs / start-ups need from their payment processors and how is GPS helping the Fintech industry?

Platform functionality and reliability is a given; where the fintechs and digital banks really gain the value in choosing GPS as their processing partner is our expertise and the partner network. In supporting over 100 fintechs get established, GPS has a massive advantage in knowing the secrets of success. The common thread of the most successful fintechs in start-up phase with GPS (such as Starling Bank, Revolut and Monzo) has been the combination of a laser-sharp vision coupled with an acceptance of guidance on decision making to get live with their products quickly. GPS has strong relationships with nearly every Issuing bank and card bureau as well as both major schemes, and the value of this shouldn’t be underestimated in not only the personal relationships with the various departments but also the detailed understanding of their forms, processes, and interfaces.

3. What do you do when not working? What are your hobbies?

As a proud mum of 3 children, aged 14, 12 and 9 years, my weekends tend to involve a lot of hollering encouragement at the side of a netball court or football pitch. I enjoy cooking, particularly on a Sunday evening, when I sometimes have 3 different meals on the go at the same time as I prepare in advance for the week.

4. What are your personal goals for 2020?

I’ve let my commitment to exercise slip, as I’ve been telling myself for the past couple of years that I’ll have more time in 3 months. I’ve recognised that working in such a high growth business, especially as we expand globally, it is never going to get less busy, so I need to find a way to incorporate into my daily routine as it stands. We’ve just installed exercise bikes in our offices, which has been really well received and we are competing against other firms on a charity round the world challenge #BreaktheCycle.

The content of this article does not reflect the official opinion of Edgar, Dunn & Company. The information and views expressed in this publication belong solely to the author(s).

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