A payments group has formed in the New York City area that is so new, it doesn't have a website or a charter yet. But it does have several founding members, including Steve Kietz, who was a senior executive at Citigroup and Chase before forming payments consulting firm Woodbury Advisors; consultant and managing director of Market Innovations Ron Mazursky; entrepreneur and Payvision owner Rudolph Booker; Capgemini Financial Services principal Deb Baxley; Dale Laszig, vice president of sales at Castles Technology and contributing writer at The Green Sheet; and founder and Nitin Gupta, former Capgemini banking sales director.
The group aims to promote the sharing of ideas and best practices among payments professionals in the New York metro area. It started out as a virtual group in the networking site LinkedIn. It now holds bi-monthly physical networking events.
"The payments industry is undergoing a transformation of sorts right now with the birth of new business models and ideas almost on a weekly basis," says Nitin Gupta, founder of NYPay and a Capgemini veteran. "I wanted to expand my network in payments and when I started looking for a platform to enable that, I found nothing. That led to the formation of NYPay."
The group's inaugural meeting was held September 29. Senior executives from American Express, MasterCard, Citigroup, PayPal, PayVision and other consulting firms chatted over wine about the future of mobile payments. Kietz talked about the merger between Verizon, AT&T, T-Mobile, Barclays and Discover and what it means for the mobile payments industry, as well as competition from other companies like Apple and Google. Baxley talked about some of the innovative things happening in the area of mobile and location-based marketing and how that is driving mobile payments.
NYPay's next event will be held on December 2; executives from American Express and Citi will speak. Future events will tackle issues such as regulation and compliance, the impact of regulations on interchange, the alternative payments landscape and the growth in the prepaid card business.
Those interested in joining this group should submit a request to the NYPay LinkedIn group.