Commerce Conversations

Payments are commoditized; the value is in what happens before and after the transaction. This insight drove KeyBank's entire fintech partnership strategy. Speed in banking is relative. Nine months from handshake to product launch was a standout result -- built on 10 years of trial and error refining processes. Organizational structure matters. Having payments leadership report directly to the CEO...

In this episode of Commerce Conversations, Ysbrant Marcellus, partner at Commerce Ventures, interviews Tom Bianco, who leads Newline at Fifth Third Bank. The two discuss the evolution of embedded payments, the organizational challenges of building fintech infrastructure within traditional banks, and where the industry is heading next. Here are the key takeaways: Defining Embedded Payments: Tom cla...

Setting the Stage: What Is First-Party Fraud? First-party fraud = authenticated, fully KYC’d customers who are who they say they are… but “not doing nice things” (abuse, friendly fraud, promo gaming). Shanthi Shanmugam After 2021–2022, banks and deposit-heavy institutions saw a double-digit increase in fraud losses tied to their own customers rather than external attackers. Shanthi Shanmugam Tradi...

2026 Predictions: Agentic Commerce & Retailer Response Agentic commerce gets real: Transaction volumes from AI agents move from a trickle to “meaningful,” as consumers progress from researching via AI to completing purchases on platforms like ChatGPT connected to Shopify, Etsy, and large retailers. Retailers limit scraping: Many top U.S. retailers will restrict broad, agentic scraping of their sit...

In this episode, Dan and Brandon cover: Brandon’s founder journey: from building software in college to multiple exits and now leading Forward The pain points of legacy acquiring and why funds-held and outdated tech nearly cost him a business The three 20-year “eras” of payments and why embedded software is just getting started Why most vertical SaaS companies vastly under-monetize payments, and h...

This week on Commerce Conversations, Dan is joined by Tom Brown for a candid, operator-level walkthrough of the next big change in payments: tokenized deposits and controllable payment intangibles (CPIs). Instead of shuttling funds across intermediaries, banks can keep value parked and transfer the claim —a model that looks a lot more like immobilized securities than traditional money movement. We...

Stablecoins are moving from the margins of crypto speculation to the center of real-world commerce—and regulation is finally catching up. In this episode of Commerce Conversations , Dan Rosen is joined by two experts on the frontlines of fintech law: Lindsey Haswell, Chief Legal Officer at MoonPay and board member for BlackRock’s crypto ETFs, and Mitzi Chang, co-chair of the blockchain and fintech...

In this episode of the Commerce podcast, Ys chats with longtime friend and payments operator Marco Mahrus—now Head of Revenue at Bridge—about how stablecoins are reshaping the future of global payments. Marco takes us behind the scenes of building payments products at Uber and Brex, including the complexities of launching a co-branded card and navigating global regulatory environments. He explains...

In this podcast, Kirill Gurtman, Co-Founder of Conduit, shares his journey from growing up in Ukraine to building one of the leading infrastructure providers for stablecoin-powered cross-border payments. After living in multiple countries and adapting to new cultures, Kirill developed a sense of resilience and adaptability—traits that would later prove essential in his entrepreneurial journey. Kir...

In this episode of Commerce Conversations , the Commerce Ventures partners outline their key predictions for 2025, diving into FinTech, Retail Tech, and broader industry trends. They begin by examining stablecoins, predicting their adoption for cross-border payments due to increased liquidity, expanded use cases, and favorable regulatory environments. Moving to the banking sector, they foresee sig...

In this podcast, Johnny Ayers, CEO and Founder of Socure, delves into his journey from a sports-oriented upbringing to becoming the founder of Socure, a leader in identity verification. Growing up in a competitive environment, Johnny developed a strong work ethic and resilience, which were further reinforced by mentors and exposure to successful entrepreneurs. After college and navigating a tough...

  1. Introduction Host Julie Verhage Greenberg introduces the Commerce Conversations podcast and the episode’s focus: a conversation between Dan Rosen and Aaron Schum, CEO of Vestwell, discussing Aaron's journey, entrepreneurship, and the U.S. retirement crisis. 2. Aaron’s Background and Early Influences Aaron shares his upbringing in a blue-collar family in Chicago, where his father’s interest in...

In this episode of Commerce Conversations, Vivek Krishnamurthy, partner at Commerce Ventures, interviews Kirti Shenoy, co-founder and CEO of Zeal. The two discuss the future of payroll technology and how Zeal is pioneering solutions in the space.   Here are the key takeaways: Background and Entrepreneurship: Kirti grew up in a blue-collar environment and was inspired by her father's entrepreneuria...

Melissa's Background Early Life : Melissa was born and raised outside Minneapolis, Minnesota, with a strong family influence from her mother, a teacher and mathematician, and her father, a Vietnam vet and entrepreneur in tech and education. Career Path : Started in financial services due to her interest in combining tech and numbers. Joined Citi, eventually moving to Fifth Third Bank. Career Highl...

Global Perspective and Resilience: Sharda's upbringing was deeply influenced by her parents' journey from India to the United States and their subsequent global relocations. This nomadic lifestyle instilled in her a sense of global citizenship and adaptability. She learned the importance of creativity, risk-taking, and dreaming big from her family's experiences, which have significantly shaped her...

Key Discussions:  Future of Sponsor Bank and FinTech Relationships : Banking as a Service (BaaS) : The discussion centered on the evolving role of BaaS, especially in light of a major player's public bankruptcy. The consensus was that future models should focus on collaboration between fintechs and sponsor banks, jointly handling regulatory compliance, product development, and financial monitoring...

In this interview, Madeline Parra, CEO and Co-Founder of PurpleDot, shared her journey from growing up in North Carolina and being a D1 swimmer at Davidson College to becoming an entrepreneur. Madeline's interest in startups sparked after reading Paul Graham's blog, despite initially lacking coding knowledge. Her first entrepreneurial venture was a fashion startup aimed at helping teenage girls fi...

This episode centers on the emergence and development of Banking as a Service (BaaS), tracing its recognition and adoption back to around 2019. It was a period when FinTech platforms began to explore BaaS as a means to expand their offerings without forming direct partnerships with banks. The concept was initially appealing because it promised a reduction in the complexity and regulatory overhead...

In this episode of Commerce Conversations, Erika Hull, a Senior Associate at Commerce Ventures, talks with Melissa Pancoast, the CEO and Founder of The Beans—a company dedicated to developing financial tools for what is described as the "caring class." Pancoast shares her entrepreneurial journey, beginning with her childhood in Miami, Florida, where early experiences with money and her family’s na...

Sean Harper, Co-Founder and CEO of Kin, recounts his formative years in Wisconsin, painting a picture of a Midwestern upbringing with a twist: his mother was the principal of his grade school, and his father, a police officer. This unique family dynamic, combined with his early exposure to programming, laid the groundwork for his interest in technology. Sean's fascination with algorithms began not...

This episode delves into the journey of Wade, a serial entrepreneur with a passion for technology and community building. Growing Up and Early Influences:   Wade shares insights into his upbringing in Davenport, Iowa, and how being the third of four boys fueled his drive for entrepreneurship. His love for biking and computers started early in life, shaping his interests and hobbies. Wade's transit...

Entrepreneurial Background and Early Experiences: Rene grew up in a family of entrepreneurs. Shared a personal story about being born on a night when his mom was sorting punch cards for a payroll job for a defense contractor. Emphasized the importance of having a "dinner table MBA" by growing up around small businesses run by his family. Career Journey: Worked at Pricewaterhouse as an accountant t...

Introduction: Overview of the podcast focusing on Commerce Ventures' annual prediction season. Discussion on examining the outcomes of 2023 predictions and their implications for 2024. Review of 2023 Predictions: Buy Now, Pay Later (BNPL) Implosion: BNPL usage remains high, defying expectations of implosion. Resilience noted despite economic challenges. Acknowledgment of misjudgment on BNPL provid...

Rich Clow's Role and Team: Rich Cloud leads payment innovation at Bank of America. Focus on evaluating new technologies and solutions. Assessment of new networks, checkout solutions, and step-function capabilities. Pro-stage gated process for evaluating and validating solutions. 75% of his time dedicated to consumer and small business solutions. 25% of the time with the GTS function, bringing Bank...

Background and Early Life: Born in Cameroon, moved to Paris at three. Studied in the United States, as student athlete in track and field. Achieved fifth place at French Junior Nationals in track and field. Represented Cameroon at the World Championships in 2003, faced injuries. Injured before the 2004 Olympics, ending his athletic career. Transition to Technology: Met someone on a train working o...