ETA Member Companies Discuss the Importance of Gender Equality in Payments

In honor of Women’s History Month the ETA recently interviewed member companies for a discussion of the important role women play at all levels of the payments industry. Payments leaders from the US and Canada reported positive trends, acknowledged gaps, and offered avenues to support all genders in the payments ecosystem. They highlighted resources and networks that are both internal and external to the industry, as well as tips that create alignment, community, and enthusiasm in individual companies.

Wins and Recognition

Ainsworth Clarke shared that the Bloomberg Gender-Equality Index has recognized Fiserv five years running for their steadfast commitment to women and gender equality. Fiserv teams up with the Women’s Impact Network (WIN) to host virtual events, serving to highlight women in leadership at Fiserv. They also encourage all employees, regardless of gender, to join WIN, which helps develop leadership throughout the company.

Fiserv is not the only payments company taking a position on gender equality: Diane Driscoll of US Alliance Group, Inc. shared that their Executive to Manager level is held by a majority of women–53%. Deanna Rich of Infinicept works to raise the profile of women in payments through the ETA Young Payments Professionals Scholar Program. But external resources are not all she leverages: as co-CEO, she and Todd Abolowitz share a single vote equally for all decisions regarding the future of Infinicept. This not only encourages discussions that move their company forward, but fosters alignment as well.

Mentorship in Payments

Marta Rzeszowska of Moneris and Lacey Frenzel of DishOut both stressed the importance of mentorship and community building to equalize opportunity. Lacey Frenzl mentioned Wnet as the “perfect example” of an organization that cultivates community for women in payments, offering a safe space to go for advice and empowerment.

Earlier this year, Moneris partnered with Elevate to launch Canada’s first ecommerce accelerator, eCommerce North. They too, focus on coaching and mentorship, zeroing in on sustainability, equity, and mental health. Even better, in alignment with the Canadian government’s 50-30 initiative, a minimum of 50% of the program’s participants are female founders and at least 30% come from traditionally underrepresented backgrounds.

Room to Grow

Sam Pfanstiel of Viking Cloud acknowledged the discouragement that many capable and ambitious young women have experienced in payments security and cybersecurity, while Shalav Gupta of FSS Technologies reported some encouraging trends: the increasingly-held perspective that diversity is an asset, not a risk, more men understanding their role in promoting gender-equal workplaces, and a cultural shift towards consensus-based decision-making. But he, too, acknowledges a long road ahead towards true equality among genders.

The Way Forward

Adi Ekshtain of Amaryllis Payment Solutions summed up the benefits of a diverse, inclusive workspace, noting that any payments company that prioritizes fostering this type of environment will have a more agile and creative workforce. As for me, I am pleased to report that I experience less prejudice every year in our industry. With an emerging attitude of true equality, people seem to care only about my ability to help them make the best decisions possible.

With the important work that we do, processing over $6 trillion in purchases in the USA alone last year, we need everyone on deck, and thriving! Let’s keep pushing ahead.