In August 2023, Stax Payments took a notable step by naming Paulette Rowe, a British finance executive, as their new CEO. She’s now among the few Black women running a payments company. Stax Payments welcomes Paulette Rowe as their new CEO, as she brings tons of knowledge and skill. This sets Stax Payments on its path to becoming world-class in integrated payments. With rich experience, Rowe is ready to guide Stax Payments toward innovation and growth. She’s got a strategic mind and successful record that makes her perfect for building on what interim CEO John Kristel started. An accomplished executive in the industry, she’s ready to guide the company to keep winning and remain a payment tech leader.
Before joining Stax Payments, Rowe refined her expertise at Paysafe, a company based in London. During her time, she managed their integrated and online sales platforms. Known for her handling of financial issues and advocacy for innovative approaches, she has distinguished herself. With Rowe’s perspective and strategic insight, she is poised to lead Stax Payments toward expansion and prominence within the payments sector.
Key Takeaways
- New CEO at Stax Payments, Paulette Rowe: In August 2023, Paulette Rowe, an expert in the payment sector, became the CEO of Stax Payments. This big move reinforces the company’s goal of being top-tier in unified payments. With her affluent record, including leading Paysafe’s integrated and online commerce unit, Rowe is the ideal leader for Stax Payments.
- Rowe’s Distinct Career and Honors: Rowe joins Stax Payments with over 20 years of knowledge in payments, fintech, and banking. She’s performed high-ranking roles at notable organizations such as Meta, GE Capital, Barclays, and Paysafe, proving her skills. Named one of the most Influential Women in Payments, she is a steerage and is anticipated to evolve growth and operational plans within Stax’s software and payments range.
- Stax Payments’ Standing and Expansion: Under Rowe’s guidance, Stax Payments aims to keep up its outstanding growth in the payments field. The firm, having processed nearly $30 billion in payments, provides services to about 30,000 businesses worldwide. Having a valuation of over $1 billion and significant investments, Stax strengthens its standing through smart purchases, like Stax Bill, CardX, and Payment Depot.
- Inclusion and Diversity Thrive at Stax: Paulette Rowe’s management underscores inclusion and diversity at Stax Payments. Looking back on her initial career days, Rowe illustrates the importance of staying true to oneself and one’s principles. As the CEO, she manages a diverse team and promotes a culture that acknowledges the worth of different backgrounds and perspectives. This commitment to diversity is key in constructing an inclusive environment within the company.
Paulette Rowe Takes The Helm At Stax
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Paulette Rowe, a seasoned payments executive, has been appointed as the new CEO of US fintech Stax Payments. She assumes the position from John Kristel, who has been serving as interim CEO since January. During the transition, Kristel will continue his role as an operating partner at Greater Sum Ventures, a control investor in Stax Payments.
Rowe, recognized as a prominent figure in the financial sector, brings a wealth of experience to her new role. Prior to joining Stax Payments, she served as the CEO of Paysafe’s integrated and e-commerce solutions division. In February, she took on the role of an independent non-executive director at London-based paytech platform Global Processing Services (GPS). Rowe has held senior positions at notable institutions such as Meta, GE Capital, Barclays, etc.
With over two decades of experience spanning payments, fintech, and banking, Rowe is now entrusted with steering the growth and operations of Stax’s software and payments portfolio.
Paulette Rowe has also garnered multiple accolades, including recognition as one of the Most Influential Women in Payments. She will concentrate on steering growth and operational strategies within Stax’s software and payments portfolio in her new capacity. This portfolio aims to support merchants and SaaS platforms to flourish by eliminating transactional friction between these businesses and their customers.
Expressing her views in the press release in August last year, Rowe highlighted Stax’s remarkable inorganic and organic growth in recent years, establishing itself as a disruptive force and a leader in the payments sector. She is excited about the prospect of collaborating with the dynamic team at Stax to create innovative solutions that simplify and enhance integrated payments.
After conducting a thorough global search, Ross Croley, the CEO and founder of GSV, expressed satisfaction in welcoming Paulette to Stax. Recognized as an accomplished executive with extensive experience, Paulette comprehensively grasps the industry’s intricacies and can inspire teams toward more tremendous success. There is confidence that Stax will thrive under her leadership, and gratitude is extended to John for his guidance and dedication during this transition.
Since its inception, Stax has successfully processed approximately $30 billion in payments, as indicated in the release. The company’s payments technology is utilized by approximately 30,000 businesses globally, encompassing both large and small enterprises, along with software platforms conducting their payments through Stax’s platform.
With $245 million in investments, Stax achieved a valuation exceeding $1 billion in 2022. The company capitalizes on the robust interest among investors in recent years, especially in funding fintechs operating within the payments sector. Stax has strengthened its position through strategic acquisitions of industry peers, including Stax Bill, CardX, and Payment Depot.
Paulette Rowe’s Leadership Journey At Stax Payments
In the early stages of her career, Paulette Rowe, the CEO of Stax Payments, encountered a crucial learning experience that stemmed from receiving misguided advice. Post-graduation, Rowe initiated her engineering advisory business, Rowe & Petmezas, in collaboration with a business partner.
During a consultation with a business adviser, the suggestion was made to change the company name, citing that Petmezas sounded “too foreign.” To further exacerbate matters, the adviser recommended Rowe abstain from attending sales calls, asserting that prospective clients might not respond positively to a Black woman and would prefer to engage with her white, male business partner. Rejecting these inappropriate recommendations, Rowe promptly terminated the services of the misguided adviser.
Reflecting on this experience years later, Rowe learned the importance of not compromising her identity or beliefs. Presently, as the CEO of Stax, a position she assumed in August 2023, Rowe oversees a workforce of 318 employees, including an executive team of six women – a rarity in the fintech sector, as she notes.
In a more recent interview, she emphasized the integral role diversity plays in Stax’s success. At Stax, the belief is firmly rooted that excellence emerges from a variety of backgrounds, and embracing differences serves as a catalyst for innovation. The presence of diverse executives within the company is seen as a key factor in building a more inclusive culture across all levels of the organization.
About Stax
Stax Payments is a leading innovator in finance technology and one of the quickest-growing businesses in America. Highly recognized by top magazines like Fortune, Inc., and US News & World Report. They’re celebrated for their unique, straightforward payment tech. It has processed over $30 billion transactions already. Stax concentrates on supporting small firms, major companies, and even software platforms with their complete payment API. As a result, they’re seen as a top player in this field.
They give businesses and SaaS merchants useful tools to handle payment systems, examine data, and improve customer service using integrated solutions. Thus, Stax helps businesses work better and make wise, growth-driving decisions. Basically, Stax Payments provides businesses with the tools they need to succeed in today’s competitive business world through the influential power of payments.
Conclusion
Stax Payments made a critical move by appointing Paulette Rowe as CEO. With a career in finance and a successful stint at Paysafe, she brings a wealth of experience to the table. Rowe is now the helmsman, aiming to steer Stax towards fresh ideas and expansion. Her firm understanding of tackling challenging financial aspects and novel strategies will build a steady base for Stax’s future ventures.
John Kristel stepped aside smoothly as Paulette Rowe climbed the corporate ladder from temporary to permanent CEO. Paulette’s two decades-long experience and the honor of being one of the Most Influential Women in Payments make her an excellent fit for Stax Payments.
Stax’s remarkable feats, such as managing $30 billion in payments and surpassing a $1 billion valuation, show its robust market standing. Paulette Rowe’s leadership story is one of resilience against unhelpful advice. This showcases her dedication to staying true to herself and valuing diversity. With her, she brings these imperative qualities to Stax. In the face of changes in integrated payments, Paulette Rowe’s leadership is ready to lift Stax Payments to continuous success.
