Women in Payments: It’s Time to Get Out of Your Comfort Zone
Friday, September 20, 2019
Posted by Nidhi (Mathson) Alberti to Payments and Industry Trends
Share this:
As we gear up for Money20/20 U.S next month, we are excited to shine a spotlight on Natalia Ruiz, manager, Payments Risk Solutions at ACI Worldwide, who was recently selected to be part of the 2019 Rise Up Academy. This global program created by Money20/20 addresses the gender imbalance in leadership positions within the financial services and fintech industry.
At ACI, Natalia’s focus is to provide the ultimate customer experience, designing solutions for payments processing and fraud prevention. As a strong advocate for women in leadership roles, Natalia’s own story is an inspiration for women looking to take on the challenge and become leaders in the fintech industry. I spoke with her to find out more.
Nidhi Alberti: First of, congratulations on being selected for the 2019 Rise Up Academy!
Natalia Ruiz: Thank you! I’m really excited for this opportunity and it has motivated me to continue to work hard in my own career. I’m looking forward to getting a better understanding of how I might support other women in the industry as they move forward in their own careers.
NA: Tell us a little bit about your background and how you got started in the payments industry.
NR: Sixteen years ago, when I was starting college, I had many friends and family try to dissuade me from pursuing an engineering degree because it was a ‘tough career choice for a woman.’ Nevertheless, I turned a deaf ear and marched on into my future. It wasn’t until I entered my first class at college that what they were saying really hit me. I was among four women in a class of 60 students registered that year.
Having been raised by a working-class family, where nobody until my generation had completed a college education, I pushed on and finished my degree faster than the average engineering student.
I joined ACI in 2011 and after holding various responsibilities, I was offered a position in another country. I jumped at the opportunity immediately, even though it meant leaving my family and (temporarily) my fiancé behind. As I set myself up in a new country, learning a new language and finding my way around a new city took some time and I suffered panic attacks and anxiety during that time. I decided to build a support network to help get through the tough times and it soon paid off. My fiancé joined me after three months and started his own job search. While this took several months, we supported each other along this process and it all worked out.
Today, as a woman in the payments industry, I see the disparity in pay and job opportunities compared to men in the industry, but it doesn’t faze me. My background and upbringing have helped me see that there’s always light at the end of the tunnel if I work hard and never give up.
NA: That’s so inspiring to hear! What can the industry do to increase the number of women in payments?
NR: The figures speak for themselves. The market demands professionals in payments and technology, but the rate of students is too low to meet the market needs. Currently and for over 15 years, the list of enrolled students in technology careers have been dwindling and when we abstract those numbers to just the women in the field, the lack of females is shocking.
There are several reasons for this, lack of information, incentives and even the misconception about technical careers, which makes girls and teenagers abandon the idea of becoming part of the technology industry at an early age.
We also see women at some point in their lives taking on 2, 3 and up to 4 simultaneous jobs/roles: professionals, wives, mothers, homemakers; and that is the breaking point when women begin to doubt and assess which one of all those roles they want to devote 100 percent to. Twenty years ago, the industry was not ready to provide these women with the necessary conditions to fulfill both areas, personal and professional, but today it’s a different scenario.
I believe now is the time for change. I’m glad that organizations like Money 20/20 are shining a light on this subject and I’m excited to be part of the Academy next month and learn about things I can do to make a difference.
NA: That’s very informative! We’re excited for you to get the most out of Rise Up as well. Do you have any advice or parting words for women currently trying to make it in the payments industry?
NR: I’d say, never give up! The industry is changing, and women have the chance to do it all now more than ever before. Many times, we will need to challenge the status quo, and act upon our beliefs to grow both professionally and personally. It is hard and scary because it means getting out of your comfort zone, but if you think about this ‘comfort zone,’ it’s not always a personal choice, rather the acceptance of historical and social standards.
I have found that the best and most rewarding experiences were the ones that took me completely out of my comfort zone and added the highest value toward my progress; so, while tough to learn to deal with such experiences, it’s all totally worth it in the end.
Meet with ACI Worldwide's team of payments experts at Money20/20 USA 2019 in Las Vegas, October 27-30 (Veronese 2502), where Natalia Ruiz has been elected to the 2019 Rise Up Academy.
Related Blog Posts
Platform Driven Payments Can Drive Improved Profitability for Fuel and Convenience Store Merchants
Those of us who drive often don’t think too much about refueling our cars unless or until our tanks are nearing empty. And as long as the price is acceptable and the transaction efficient, a quick, convenient fill up is all we need.
The Nordics’ P27 Initiative: Payments in Uncharted Waters
The advance of real-time payments around the world seems unstoppable, with 45 schemes currently live and a further 13 (at the time of writing) in the planning stages. In Europe, the Nordics’ P27 initiative – the world’s first integrated multi-country, multi-currency, real-time payments platform spanning Denmark, Finland, Sweden and Norway – promises to make headlines as it takes payments into uncharted waters.
How Southeast Asia’s Banks Can Remain Competitive and Profitable in a Real-Time World
Cross-border payments across Southeast Asia are shifting as market dynamics, increased competition and increasingly demanding customers drive rapid change. As payment systems are modernized and the market evolves, banks and governments must stay on top of these trends.
The Benefits of Open Banking for LATAM
Thanks to customer demand and regulations on how customer data can be gathered and used, open banking has seen rapid growth throughout the world. The EU and U.K. have been leading forces in the implementation of open banking, while countries such as Canada, New Zealand, Hong Kong and Japan have been quick adopters.
Only One-Third of Major Fuel Merchants Have Fully Implemented EMV and 20 Percent are Still in the Planning Stage
Earlier this year, we blogged about the issue of EMV implementation in the U.S. fuel sector and the fraud issues fuel merchants can expect to see if they’re not ready by the extended April 2021 deadline.
Omni-Commerce Is Heating Up the Merchant Token Revolution
Merchants around the world have embraced the wisdom of keeping sensitive customer data (such as card numbers) out of their own environments, with tokens emerging as the tool of choice to bridge the gap. Merchant functions — including reservations, returns, reporting, rewards, research, reconciliation and more — have typically required access to sensitive data, but a series of high-profile breaches has highlighted the need to store card numbers in tightly secured safe harbors.
Brazil’s Digital Payments Transformation: Five Key Takeaways
Brazil has abundant growth opportunity when it comes to digital payments, with PIX – the Central Bank of Brazil’s new instant payments system – expected to have a significant impact. This was evident during a recent webinar Digital Transformation into Payments, hosted by Mercado & Consumo em Alerta and featuring experts from Getnet, Pernambucanas, Conductor and ACI.
Southeast Asia’s Domestic Payments Infrastructure Has Laid the Foundation for a Cross-Border Real-Time Network
Over the past decade, economies across Asia have been on the path to payments modernization, upgrading and replacing domestic payments infrastructure to make payments cheaper, faster and better. While the focus has been on domestic gains, this has set the foundation for a broader, cross-border real-time network – especially in Southeast Asia.
Could the Right Use Case Push the U.S. Over the Edge of Real-Time Payments Adoption?
New York City, while a world leader in countless ways, has only just made it possible to access the subway with contactless technology. Something a commuter in London, for example, has taken for granted for many years. While America’s tech companies, manufacturers and retailers have been constantly modernizing, the country’s payment methods and habits lag behind much of the rest of the world.
Are Alternative Payment Methods the Future of Fuel and C-Store Payments?
Card payments are still king in many sectors, including fuel and convenience, where according to Mercator Advisory Group, 57 percent of U.S. drivers currently use a credit or debit card to pay. However, the rising adoption and associated benefits of mobile and other alternative payment methods (APMs) in many other sectors have put the topic of APMs on the radars of fuel merchants.