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Laurent Le Moal. He brings extensive knowledge of digital payments in emerging markets to PayU where he serves as the CEO. He culminated an 11-year career at PayPal as general manager for continental Europe, Russia, Middle East and Africa, leaving a billion dollar development vision across diverse geographies. Prior to PayPal, he founded an Italian startup called Talent Manager. He built a 40-person team there and now the startup has expanded to France and Spain. He also has experience in McKinsey and Antal International. He leads PayU\\u2019s strategic direction and development and is currently building on the company\\u2019s position and high-growth markets all around the world. Given the company\\u2019s focus on being an expert in a local market in which it operates, Le Moal leads the creation and implementation of payment methods which best suits PayU\\u2019s customers all around the world.

Famous Five:

• Favorite Book? \\u2013 The Hard Thing About Hard Things
• What CEO do you follow? \\u2013 Chris Skinner
• Favorite online tool? \\u2014 The Top Inbox
• How many hours of sleep do you get?\\u2014 6-7
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cJust go and experience more\\u201d

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Time Stamped Show Notes:

• 01:19 \\u2013 Nathan introduces Laurent to the show
• 02:22 \\u2013 PayU is a payment gateway which is basically serving merchants
• 02:43 \\u2013 PayU has their own original platform
• 02:53 \\u2013 \\u201cI believe that payments are extremely local and regional\\u201d
• 02:58 \\u2013 Since Laurent joined PayU, they moved from pure payments to actual financial services offering credit solutions
• 03:22 \\u2013 Payment is still the bigger market for PayU
• 03:34 \\u2013 Laurent thinks that financial services is strategic move for payment companies
• 03:56 \\u2013 Nathan had Monish Anand in Episode 617 who talks about data science
• 04:25 \\u2013 \\u201cThe ability to offer credit is the ability to manage risks\\u201d
  • 04:38 \\u2013 All banks are using the same credit score model
  • 04:48 \\u2013 If you go to India and want to address 90% of the population, then have the means to repay their debt
  • 05:16 \\u2013 If you have a technology that does credit scoring, then the rest of credit is just mechanics
• 05:40 \\u2013 Talent Manager is Laurent\\u2019s first company
  • 05:54 \\u2013 Laurent started small in Milan
  • 06:39 \\u2013 Laurent was 25 when he started Talent Manager in 1997
  • 06:56 \\u2013 It was easy to get consumers
  • 07:20 \\u2013 Laurent raised around \\u20ac5M for their first round
  • 08:01 \\u2013 It was growing fast
  • 08:22 \\u2013 Laurent goes to India and sees companies with a high burn rate, which is a couple of hundred million rupees a year
  • 09:26 \\u2013 Talent Manager was able to have a couple of million in revenue
  • 09:36 \\u2013 Talent Manager\\u2019s software was sold
• 10:29 \\u2013 Paypal started in 2004 with 3 people in Europe
  • 10:35 \\u2013 They were looking for someone to do a market study about the potential for PayPal outside of eBay
  • 11:00 \\u2013 PayPal expanded outside of eBay
• 11:22 \\u2013 When you go to a high-growth market like India, most of the companies are still trying to increase the engagement of consumers
• 11:47 \\u2013 Laurent had different stock options with PayPal
• 13:01 \\u2013 PayU is part of Naspers, which is a diversified group and one of the biggest technology investors for the high-growth market
• 13:28 \\u2013 PayU has their payment business and a fintech arm which is investing in interesting startups
• 13:56 \\u2013 For PayU, the opportunity is not to just be an operator, but an investor
• 14:04 \\u2013 Laurent believes that in fintech, it is difficult to scale your business
• 15:08 \\u2013 Laurent invested Monese who is building the new bank for \\u201cunbanked\\u201d people
• 16:11 \\u2013 Laurent shares how he got into PayU
  • 16:30 \\u2013 Laurent join Naspers and PayU on the basis that he\\u2019d manage the business and transform it into a financial service company
• 16:53 \\u2013 In 2016, PayU \\u2018s total payment transaction was around $18B
• 17:12 \\u2013 Growth rate is around 40% year over year
• 17:20 \\u2013 PayU forecasts to maintain their growth rate
  • 17:24 \\u2013 PayU sees a really big push in India where the growth is around 70%
  • 17:30 \\u2013 Laurent sees India as the most exciting market in the world
• 17:50 \\u2013 Laurent sees their financial services to be continuously building in the coming years
  • 18:10 \\u2013 Laurent wants 10% of their revenue to come from credit
  • 18:24 \\u2013 Credit is the consumer credit where you give money to people and make money based from the interest rate
  • 18:38 \\u2013 \\u201cWhat is important is when you start credit from scratch, it\\u2019s actually to build your portfolio in a very consistent way\\u201d
• 19:06 \\u2013 PayU takes 1-3% per transaction
• 19:35 \\u2013 Team size is close to 1500 from 4 main regions and they have 16 offices
• 20:54 \\u2013 In fintech, there are regulations including money laundering regulations
• 21:53 \\u2013 Average ARR in 2016
• 22:24 \\u2013 PayU just launched LazyPay in India
  • 22:35 \\u2013 The concept is to give you the possibility to buy something online then pay your debt later
  • 23:43 \\u2013 The merchants love it
• 24:08 \\u2013 The Famous Five

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3 Key Points:

1. The payment gateway space is expanding and more startups are giving people easier access to credit.
2. Regulations are necessary, especially when it comes to managing those who try to take advantage.
3. Just go out there, gain more knowledge, and experience MORE.

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Resources Mentioned:

• The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Organifi \\u2013 The juice was Nathan\\u2019s life saver during his trip in Southeast Asia
• Klipfolio \\u2013 Track your business performance across all departments for FREE
• Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
• Freshbooks \\u2013 Nathan doesn\\u2019t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW

Show Notes provided by Mallard Creatives