Welcome to another episode of our payments series. This time we’re diving into B2B payments with Brandon Lloyd of Forward, Bo Jiang of Lithic and Wade Arnold of Moov.

These 3 are experts to say the least. We covered everything from the transformation of payments infrastructure, complexity of embedded payments, the regulatory environment, adoption (or lack of) of pay by bank and FedNow, and future innovation predictions.

Huge thanks to our sponsors, Highnote and Array, for making this series possible!

While most issuer processors build small, predefined boxes for their customers to fit in, Highnote has built a game-changing platform that enables unparalleled flexibility for its customers to differentiate their card offerings. On top of that, they can do it across all commercial, consumer, credit, and debit program types.

Visit Highnote.com to learn more about how to take your card program to the next level.

Array offers embeddable tools that integrate seamlessly into your fintech platform, from identity and privacy protection to credit monitoring. Array helps fintechs fast-track their innovation, generate revenue, and enhance user experience. With Array, you’re not just keeping up – you’re leading. Visit www.array.com to learn more.

🎧 How Money Moves Podcast: All Things B2B Payments, with Brandon Lloyd of Forward, Bo Jiang of Lithic and Wade Arnold of Moov

Welcome to another episode of our payments series. This time we’re diving into B2B payments with Brandon Lloyd of Forward, Bo Jiang of Lithic and Wade Arnold of

Apple Podcasts

Transcript:

Julie: Well, hi guys. Today we're going to be focusing on B2B payments and that is definitely a large specialty of the three of you. Why don't we just do like a very brief intro of how you got into payments and what your companies are doing in this space.

Bo: Yeah. Awesome. Happy to be here. Thanks for having me. So Bo, co-founder and CEO here at Lithic. I have kind of an interesting story of getting into payments. We started a direct to consumer fintech company 10 years ago now with two high school friends. And the idea was the company is called privacy.com. We still actually run it as a [00:03:00] kind of independent BU within our broader company, but basically it was a direct to consumer fintech company, and we wound up having to build a ton of infrastructure around issuing cards, moving money. And about five years to realize that, Hey, tons of other companies need this as well.

And decided to kind of transform our business and productize our own infrastructure for other companies in the fintech space, looking to issue cards. And so today, Lethic is a card issuing processing platform that works with a lot of sort of mid market emerging fintech companies. 

Brandon: I'm Brandon Lloyd, founder of Forward. And we built vertical SaaS companies that had some nexus to payments for years. Made a ton of mistakes. Sold our most recent one to Fiserv and I ran a couple of scale businesses for them, integrated payments and partner solutions. And then we really built Forward to level the playing field to help software companies succeed in both integrating and monetizing payments.

Wade: Thanks for having me. Wade Arnold here, co-founder and CEO of [00:04:00] Moov. Moov really kind of follows along both where Bo and Brandon came from in the sense that I had started a digital banking company, Banno, that was acquired by Jack Henry, helped start a bill pay company. I was an investor and executive at Billgo, which is modern bill pay and really in both scenarios spent most of my time debugging the underpinning infrastructure or payments layer. And so you move money in digital banking and it doesn't actually move. They call the digital banking provider. Go ballistic. And so the idea at Moov was how do we rebuild these low level payment protocols and services inside of the United States and do it in a way that is designed for kind of the post internet era, both from an availability and scalability standpoint.

Matt: Awesome. Thanks guys. So for our first question, I want to start with, you know, you all have been in the space in a variety of ways for quite a while. [00:05:00] So like what, Are some of the key changes that you have seen in the industry, either really great or they could be really terrible. I'll start with you, Wade.

Like, what do you think is one of the biggest changes that has happened since you first started?