As the pace of technology continues to accelerate in the payments industry, there will be new sources of jobs and advancement but also potential pitfalls that can hinder a career.
"I think everyone would agree that the rapidly changing environment driven by technology is a huge opportunity now for junior executives to grow and thrive," said Kim Fitzsimmons, CEO of payment processor Talus. Fitzsimmons is one of
"This shift to digital has introduced new players into the industry, expanding competition beyond traditional financial institutions to include tech giants like Apple, Google and Amazon," said Janitra Taylor, head of product for
New demands
Unlike in previous years, today's junior employees must navigate a field where
"Companies like Apple are pioneering changes influencing consumer expectations regarding security, speed and integration," she said.
For younger employees, career paths are defined not only by understanding core banking and payments principles but also by staying ahead of technological advancements and adapting to rapid shifts in consumer behavior.
"The competition, however, brings with it unique growth opportunities," Taylor said, adding that junior employees now have access to roles that blend technology and finance in ways that were rare in the past. Data analytics, machine learning and cybersecurity have become critical to payments, opening doors for "Big Tech" professionals.
"For those beginning their careers, this provides an unprecedented chance to work at the forefront of fintech innovation, with companies increasingly valuing cross-functional skills that blend technical knowledge with financial acumen," Taylor said.
In the current career environment, millennials and GenZ are more likely to be digital natives and have less of a learning curve. They are also more likely to be well-versed in
"Younger colleagues are far more capable of adapting quickly to new technology and operating systems," Fitzsimmons said. "They have a distinct advantage to leverage ChatGPT and AI to be more efficient and effective, bringing incremental value to any organization."
But young workers are also challenged by changing work environments. While recent employment trends such as hybrid work enable flexibility, it can also be harder for new employees to get noticed, according to Fitzsimmons.
"It is difficult for them to be recognized and rewarded for their work efforts which often hide in the background and are difficult to observe," she said. "Junior executives must make it a priority to be engaged with coworkers, peers and senior level executives to build helpful business and personal relationships, stay informed on strategic corporate priorities and gain well-deserved recognition for their efforts."
Junior colleagues should also be open-minded to any and all opportunities, projects, experiences and challenges, Fitzsimmons advised. "Whether it is in their current wheelhouse or role or when seeking a new opportunity outside of their current organization, they should never limit their thinking or assume they are not ready or a good fit. They need to take risks and always be in learning mode — learning what to do and what not to do in some cases," she said.
More role models
While there's still a gender gap in leadership in the payments industry, there has been some
"When I started in the financial services industry, being a woman in leadership was a rare and challenging experience," said Kathleen Pierce-Gilmore, senior vice president and global head of issuing solutions for Visa. "I often found myself navigating a male-dominated environment with limited support and mentorship. It required resilience, determination and a strong belief in my capabilities to step up and make a difference."
With more women now in leadership positions, they benefit from greater access to mentorship programs and diverse work environments that were not available in the past, Pierce-Gilmore said, which empowers younger women to contribute and lead projects more effectively and confidently.
"I encourage junior employees to embrace these opportunities, take risks, and lead with passion. The journey may still have its challenges, but the support systems now in place can help them grow into impactful leaders who make a meaningful difference in our industry," Pierce-Gilmore said.
Writing for
"When I first entered fintech, the African landscape was still developing, with limited opportunities for professionals, especially women. There were few African-led fintech companies and even fewer female founders," said Elizabeth Rossiello, CEO and founder of AZA Finance, which invests in emerging markets. She noted that today, junior employees entering the industry experience a vastly different environment. African fintech has rapidly grown, with more companies being founded, funded, and led by Africans.
The rise of female founders is also notable, offering junior professionals better representation and mentorship opportunities than before, Rossiello said. As a result, there are more inclusive workspaces and structured growth paths for young professionals.
"One significant advantage for junior employees today is their access to emerging technologies like blockchain, digital currencies, and artificial intelligence," Rossielllo said. "These technologies were still in their infancy when I began."
Because of this, less experienced employees today can make significant strides in their careers with access to better resources, mentorship and an industry that is far more supportive of new talent than it was a decade ago.
"Junior employees are part of a sector that is more open to tech experimentation, and they get to work directly with these cutting-edge tools from the start of their careers, accelerating their learning curve," Rosiello said.
Pros and cons of technology
Innovation can also create cultural challenges, according to Jennifer Cruz, senior vice president of U.S. credit issuance and Canadian Acceptance at Discover
"As in many areas of life, technology is both an opportunity and a challenge for the payments industry," Cruz said. "Data can be used for growth and connection, but if you are doing too much comparison, it can hurt confidence and work."
Technology allows for a vast amount of information to be available in an extremely short time frame. And it goes beyond accessing information; technology also improves access to people and leadership, Cruz said.
"People spend a lot of time comparing themselves to others, and social media does not help that," Cruz said. "Even on professional platforms it is easy to get lost comparing titles, promotions, companies and more."
This leads to the feelings of "do I belong here or am I good enough to be in the room?," she said. "Spending too much time questioning if you should be in your role is just taking time away from kicking butt in that role."
