2019 SALT Conference: How Digital Payments Drive Entrepreneurship

Notes from Frank Bisignano, the Chairman and CEO of First Data, from his presentation at the 2019 SALT Conference called “Connecting The World: How Digital Payments Drive Entrepreneurship.”

digital payments drive entrepreneurship

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Connecting The World: How Digital Payments Drive Entrepreneurship

Frank Bisignano – Chairman & Chief Executive Officer, First Data

Anthony Scaramucci – Founder & Co-Managing Partner, SkyBridge

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Q1 hedge fund letters, conference, scoops etc

  • Frank is overseeing a $22bb merger with digital payments at First Data
  • Ringing the bell for the largest IPO of 2015, was a life changing moment for him
  • One of his biggest failures was running a global payments business at Citi
    • It was struggling, so they brought in a senior member from Oracle
    • It is not all on you as the leader, but you must be willing to bring the right people to the table
  • “How do we help the consumer make life easier”
  • They were the engine for the Starbucks digital payments
  • Will be in a cashless society?
    • There are countries just starting to take cards
    • Everything is going to transform; cash will become less popular
  • Putting payments into cars is the next big movement
  • Payments at the pump but also at QSR like McDonalds; you will never need to take out your phone.
  • Competition from Amazon and Paypal; managing cooperation and competition?
  • Clover, sits in SMID size businesses
    • Open environment for developers
    • They are partners with all the aforementioned players
    • Their real estate is so valuable that everyone wants to partner with them
    • You saw that with how Apple Pay played out for them
  • Surveilling code, hacking yourself and having a parameter that is tight as well
  • Cyber security is the number one risk
  • Disruption is second risk
    • Watch the competitive landscape and partners with the real threats
  • Old people are smart; learn from those that have experienced that change

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Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver