Celebrating women at Paysafe
On the occasion of International Women’s Day, we are celebrating women at Paysafe and women in the workplace. With this in mind, we have asked some of our colleagues and members of our Women@Paysafe employee network, to reflect on the topics affecting women in our industry today, and what International Women’s Day means to them.
Megan Oxman, Interim President, Digital Wallets
In what ways do you feel companies could better support women in the workplace and in their career progression?
To foster an open and diverse organization, I believe it’s critical that women are represented at all levels. To achieve this, we must focus on retaining female talent and supporting their advancement. Research shows that the “broken rung” is helping women achieve their first step into management (per a Women in the Workforce report by McKinsey), for every 100 men promoted past entry level in the US, only 87 women are promoted). We also know that offering workplace flexibility (especially in a post-COVID world) is critical to attract and retain women: the McKinsey report notes 49% of women leaders say flexibility is one of the top three things they consider when deciding whether to join or stay with a company, compared to 34% of men leaders.
What significance does International Women’s Day have for you?
IWD provides a great opportunity to look back and see how far we’ve come. Recall that in the US and in most places in Europe, women only achieved the right to vote about 100 years ago! It’s a great time to reflect on what female leaders have accomplished, not only in business but also in sciences, arts, and government. IWD also helps garner attention on how much further we need to go to achieve a gender equal world and the steps our society can take to achieve it.
Chi Eun, EVP & Chief of Staff and Executive Sponsor of Women@Paysafe
In what ways do you feel companies could better support women in the workplace and in their career progression?
I think it is really important for companies to create a culture where challenges can be discussed openly. Women (and men) need to be given a space where these informal discussions can take place, along with a formal mentoring programme that supports their career development. This will allow them to also identify ‘hard’ policy changes ranging from maternity/carer leave to working time flexibility, etc. And of course, they also need to feel empowered to recommend these changes. In order for that to be possible, it requires strong sponsorship from the top leadership.
What significance does International Women’s Day have for you?
International Women’s Day presents an opportunity to collectively reflect on the amazing progress we have made but also to recognise how much more there is to be done for us to get to true equality and inclusion at all stages of our careers in different environments. It is also a day to learn from other people/companies about what they are doing to improve equity at work. And, lastly, International Women’s Day should inspire us not to get complacent, thinking what we are doing is enough, and instead motivate us to continue looking for ways to progress.
Rachel McShane, CFO Digital Wallets
In what ways do you feel companies could better support women in the workplace and in their career progression?
We can only move forward if women are given equal opportunity to succeed – equal pay, equal development and progression opportunities, fair representation at all levels of the organisation and acknowledgment of the support needed to manage building a family and a career at the same time. Having two children in quick succession (following years of juggling fertility treatment to get there), at a pivotal point in my career was tough. Finding the right balance and managing the guilt of not doing my best at both was a constant battle. With time, I’ve found my rhythm but as an industry if we want to develop and retain female talent, we need to get better at enabling a work-life balance which allows you to be a parent and have a seat at the table. If the pandemic has taught us one thing about flexible working, it is that it can be more productive.
Are there any prominent women that inspire you and why?
My life and career have been sprinkled with some amazing, inspirational women. One common theme amongst all of them is authenticity – they are the same person at home as they are in the board room, perhaps with an ironed shirt, but otherwise the same! Their core values transcend both, which in turn builds confidence and trust (in their teams, stakeholders and customer). This is something I have tried hard to emulate throughout my career.
Elena Dimova, VP HR Bulgaria and Operations & Technology
In what ways do you feel companies could better support women in the workplace and in their career progression?
Through better flexibility and transparent internal HR processes. I also think that a well-defined career path is important for the development of female leaders. It is crucial that companies make sure that they give equal opportunities to the various represented groups and continuously revise HR practices so that everyone has an equal chance for a career progression.
Are there any prominent women that inspire you and why?
I have regular contact with Paysafe colleagues and I admire how they deal with the challenges they face on a daily basis and the way they balance work and personal life. Apart from this, I closely follow the political career of Angela Merkel, I find her a truly phenomenal woman.
What do you see as the greatest barrier to entry for women in fintech?
I don’t think there are barriers to entry as such for women in fintech. Finance and tech as industries have been historically predominantly male dominated and the industry needs time to change this trend.
Alisa Barber, SVP Lead Generation
What significance does International Women’s Day have for you?
I love celebrating International Women’s Day. This special day celebrates how far we've come, and highlights that more progress is needed. My three daughters can dream of careers that my mother's generation couldn't have even imagined – so many more choices!
In what ways do you feel companies could better support women in the workplace and in their career progression?
One of the most effective ways companies can support women in the workplace is through mentorship and coaching. It’s important for everyone to have someone to turn to for career advice, but especially for women. Women learning from women is key. Personally, my mentors have been men. I am very grateful for that help throughout my career, but I think today, more than ever before, women need female mentors to help them navigate today’s challenging business environment. Secondly, we need to actively champion and celebrate women that are making an impact. Championing women will inspire other women, whose work and creativity will then have positive impacts on Paysafe as a company and community.
Veronika Missbichler, SVP Operations, Digital Wallets
What significance does International Women’s Day have for you?
To be honest, I am sad that we still need this day to remind us that there is still much work to do to achieve equity for women at work. But given that, I am happy to use that opportunity to draw attention to this topic, that’s one important step (of many) to change the world.
What do you see as the greatest barrier to entry for women in fintech?
Prejudices. I really encourage women to come in and find out for themselves instead of letting the perception of a traditionally male-dominated field scare them off. It’s a great space to work and grow your career!
Erica Anderson, VP Marketing & Product, Income Access
In what ways do you feel companies could better support women in the workplace and in their career progression?
It’s really important for all businesses to show concrete actions on how they are actively supporting women in the workplace. Organisations must look at all internal areas to really identify how to support, engage and grow women and their career progression. This starts with hiring, by making conscious decisions to have a diverse pool of candidates, as well as active mentoring programmes giving younger women and minorities direct access to senior leadership. At Paysafe, we have a variety of D&I networks including the Women@Paysafe network, which specifically has the mandate and goal to support women within our organisation. Women are engaged through the network through regular communications, networking, as well as global and local initiatives and events which are aimed at being involved with both our internal Paysafe community as well as our external local and global communities. It’s also key to show support for the varying life circumstances for women (and men) in the workplace, which could include needing a more flexible schedule to accommodate family needs. Supporting the woman as a person means that you will have more successful women in your organisation.
What significance does International Women’s Day have for you?
For me, International Women’s Day is a time for the celebration and remembrance of women. These women can be those that we know personally, inspirational like activists, leaders and philanthropists, but also the everyday woman. It is really a time to remember how far we have come from just over a hundred years ago when women couldn’t vote in Canada but also to remember how far women still have to go. I personally remember attending a high-school seminar given by a prominent Canadian feminist where she said to us that ‘every person should be a feminist, not because women are better than men but that every woman should have the equal rights of a man.” There are so many areas in the world where this is still not the case Even in my own country, there still exists a gender pay gap with the average woman making 90 cents to the dollar that the average man makes. These are still issues that, as women and as people in this world, we need to remember and make efforts to remedy.
Diana Gutierrez, Head of Financial Planning & Analysis, Latin America
Are there any prominent women that inspire you and why?
There are many prominent women who inspire me, including Christine Lagarde, Sheryl Sandberg, and Norma Piña among many other women who do amazing things but lack notoriety. These women have all broken down barriers and achieved great success in their respective fields, while also advocating for gender equality and social justice. Their resilience, intelligence, and dedication to making the world a better place are qualities that I admire in my own career and life.
What do you see as the greatest barrier to entry for women in fintech?
The greatest barrier to entry for women in fintech is likely the same as it is in many other male-dominated industries: a lack of representation and visibility. When women do not see themselves reflected in leadership positions or in the wider industry, it can be difficult to imagine themselves pursuing careers in fintech. Additionally, unconscious bias and systemic barriers can make it more challenging for women to be recognised and valued for their contributions in the workplace. Companies and industry organisations must actively work to promote gender diversity and inclusion in order to break down these barriers and create a more equitable and inclusive fintech industry.