Meet the President of Worldpay for Platforms — Leading the Evolution
We’re on the precipice of another giant leap in the evolution of software-led embedded payments, according to Worldpay for Platforms Group President Matt Downs. If anyone should know, it’s Matt. He’s been at the leading edge of integrated payments ever since the phenomenon started to take shape in the mid-2000s, not long after retailers finally had connectivity with software companies.
“Payment facilitation eventually came along as a challenger, and we started seeing software companies be very intentional about inserting payments DNA into their platforms. But it’s taken some time before it hits mass scale.”
He believes that’s what’s coming next. “What’s most exciting about the next stage in the evolution of embedded payments is the ability for more and more software companies to natively bring payments as well as other financial and business services right into the utility. It’s a huge opportunity.”
“We’re in the early days of mass adoption of payment facilitation as a service. And the evolution isn’t going to be limited to payment acceptance. You’re going to see a lot more things get exposed to workforce software over the next two to four years. And Payrix and Worldpay for Platforms are going to be there, helping drive that evolution as our long track record as a market-enabler as all these years has proved.”
Can’t Get Enough of a Good Thing
This isn’t the first time Matt has brought his experience, talent, and vision to the team at Worldpay. He’s a “boomerang” as they say. This is his third time around at the company. “Sometimes, your best opportunities are over your shoulder.”
With countless boomerangs on the team now, Matt believes it’s a testament to the fact that Worldpay for Platforms and Payrix have another Market defining moment and that vision brings people back. “Every time one of our team returns, we’re adding more experience and expertise that we can offer our software clients. Our team has unrivaled combined experience in integrated & embedded payments, and that experience equals value for software companies in time to market, intelligent purpose-built solutions that drive user experience and revenue.”
Matt started his career selling payments through Chase Merchant Services and went on to build Citi Merchant Services. Then, in 2008, he partnered with Rob Weschler and former Payrix CEO Eric Frazier to build one of the first integrated payments companies in 2008.
Over the course of the next 12 years, he built four software-led payments businesses, including one in the U.K. And most recently, prior to his current role, he worked client-side in the B2B SaaS community as a consultant, helping over a dozen software companies with their sales, go-to-market, and payment strategies. He eventually dropped in as an GTM operator in a SaaS company for a year as well. “I have a whole new set of tricks and knowledge that I can help other software companies with.”
Offerings as Robust as Experience
To meet the needs of software companies wherever they are on their payments journey, Worldpay for Platforms is the partner that brings a robust set of offerings that will meet their goals today and in the future. “We are well advantaged over any of our competitors, primarily because we operate our own PayFac®, a.k.a. Payrix. It helps us be smarter about our products and services. We think about how to develop a really slick API-first experience, so that our customers can be the hero to their clients.
“I’ve walked more than a day in their shoes, and I understand how much work it takes for a software company to do payments in a first-class way. That’s why our multi-level approach is such an advantage to our customers. We offer high value, relevant products, along with consultancy and experience. We can help them deliver better experiences for their clients, drive more value for their software subscribers, and ultimately, more revenue.”
Keep Looking Forward
The same excitement for what comes next in payments spills over to Matt’s life outside the office. He loves traveling with his family, Denver’s music and arts scene, and anything with handlebars – mountain bikes, motorcycle, dirt bikes – that allow him to explore what’s ahead and have some fun along the way.
Good advice for anyone starting out. “If I could give my younger self advice, it would be to stay loyal and surround yourself with people who are smarter, stronger, and better than you, because they’ll make you better, steel sharpens steel.”
