Instant Payment Strategic Dilemma with Guest Kevin Olsen
Wrestling Payments Podcast: Season 1 - Episode 9
Episode Summary
In this episode of Wrestling Payments, host Joe Casali sits down with Kevin Olsen, the Payments Professor. Kevin shares his unexpected journey into the payments field, sparked by a job loss during the dot-com bubble. His path led him to become a leader in the industry, teaching others about the intricacies of electronic payments.
The conversation shifts to the creation of Kevin's podcast, the Payments Podium. Kevin reveals how a casual comment from a colleague led him to start recording his discussions about the payments industry. He shares his approach to finding guests, focusing on individuals with years of experience and knowledge to share.
The episode wraps up with a discussion about the future of payments, particularly the importance of instant payment capabilities. Kevin emphasizes the need for the U.S. to compete globally in this area. This episode is a must-listen for anyone interested in the evolution of the payments industry and the power of lifelong learning.
Download Episode Transcript
Guest-at-a-Glance
💡 Name: Kevin Olsen
💡 What he does: The Payments Professor
💡 Company: Payments Professor
💡 Noteworthy: Kevin Olsen, a tech graduate turned teacher, found his way into the payments industry by accident during the dot-com bubble burst.
💡Where to find Kevin: LinkedIn / Podcast
Key Insights
âš¡ The Birth of Payments Podium
Kevin Olsen shares the story behind his podcast, the Payments Podium. A casual comment from a colleague inspired him to record his discussions about the payments industry. He began by inviting people he knew to be guests and then expanded his network by asking each guest to recommend others. This approach has led to a wide variety of guests, each with their own unique experiences and insights to share. The podcast has become a valuable resource for anyone interested in the payments industry.
âš¡ The Importance of Fun and Joy in Learning
Kevin discusses the importance of making learning fun, especially when it comes to complex topics like electronic payments. He emphasizes the effectiveness of 'edutainment,' a blend of education and entertainment, in facilitating learning. He also highlights the importance of bite-sized, easily digestible content that busy professionals can revisit and relearn at their own pace.
âš¡ The Future of Payments
The conversation concludes with a discussion about the future of payments. Kevin underscores the need for the U.S. to develop instant payment capabilities in order to compete globally. He believes that staying abreast of changes in the industry is crucial for success and that financial institutions must strive to be more than just 'afloat' – they should aim to lead.
Episode Highlights
The Role of Strategy in Operations
Timestamp: [00:10:27]
In a deep dive into the role of strategy in operations, Kevin Olsen and Joe Casali discuss the importance of strategic thinking at all levels of an organization. Kevin emphasizes that strategy isn't just for the boardroom; even senior operations staff can contribute to strategic planning.
"People learn best in one of two states. Fear and joy. The other thing is these people with busy schedules, juggling a lot of balls, make bite-size [decisions], make it easy for them to be able to ingest, make it something that they can over time revisit. But on the other side is that board. The other side is the executive management team."
The Power of Asking Questions
Timestamp: [00:16:27]
Kevin shares his approach to learning and growth in the industry, emphasizing the power of asking questions. He encourages listeners to follow industry leaders they admire and to not be afraid to ask questions.
"So learn how you learn. Follow the people in the industry who you want to be like. If you wanna be like them, you follow 'em. If you don't wanna be like them, don't follow 'em and ask the questions."
The Evolution of the Payments Podium
Timestamp: [00:20:15]
Kevin shares the evolution of his podcast, the Payments Podium. He talks about how he started by asking his friends to be guests and then expanded his network by asking each guest to recommend others.
"So the first thing I did was I started asking my friends. Hey, can you guys be on this podcast? Can we talk about this next thing?"
The Importance of Instant Payment Capability
Timestamp: [00:22:45]
In a discussion about the future of payments, Kevin emphasizes the need for the U.S. to develop instant payment capabilities to compete globally.
"No doubt in my mind we have to have instant payment capability in the U.S. If for no other reason, but to compete globally."
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