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In this episode of PayFAQ: The Embedded Payments Podcast, host Ian Hillis welcomes Matt Downs, President of Worldpay for Platforms, to discuss software-led payments predictions for 2025 and beyond. Navigating market dynamics in 2025 and beyond Matt emphasized the cyclical nature of the payments industry, likening it to a pendulum.
And he also has the, I don’t know, benefit or dubious distinction, but lived through this before in 2008 and 2009. Right now, learning for companies is only at 10% online. We have all this data online, if you want to see more results from the survey. It stands for vision, values, methods, obstacles and measures.
Romain Huet : Of course, besides the brand I mentioned earlier like, Google, Apple and Facebook, and so on, a lot of marketplaces also like Uber and Airbnb they tend to think of themselves as platform because they have the buyers and the sellers connecting to each other. Let’s start with our five key steps.
We looked at the world in 2008, 2009, and we said, “How come it’s almost impossible to connect two companies to do business, especially if they have complex business processes, but we can all connect as consumers on LinkedIn, Facebook, Twitter, every single day we want to do business? We can do the private marketplaces.
In May 2008, I graduated college — with 1.56 million of my peers — directly into the 2008 recession. My classmates moved back into their childhood bedrooms, fought for part-time jobs in retail and food service. Basically: Today’s economic climate looks very different from 2008. The job market vanished overnight.
WePay is a payments company for platform businesses like marketplaces, crowdfunding sites & small business software. I think on the plus side, coming into a firm like JPMorgan, we were a 200 person company when we were acquired. The day that acquisition closed, we became a 250,000 person company. Bill Clerico : Yeah.
In 2008 Leah founded TaskRabbit, the leading on-demand servicemarketplace in the world. It’s not about the convincing sales rep or the old school view of a sales person anymore. In a lot of larger companies, they’re completely okay with giving you two or three year payments all up front.
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