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From swiping plastic cards to tapping smartphones, the world of payments has undergone a seismic shift in the past decade. Jeff Weiland’s career trajectory in the payments industry mirrors the evolution of this field.
As the current Head of Financial Partnerships at Bolt, Jeff has ridden the wave of innovation from traditional credit card companies to cutting-edge fintech startups, leaving his mark on how millions of people shop and pay. In his current role at Bolt, his focus has been on overseeing existing partnerships, strategizing new business developments, and exploring partnerships that align with Bolt’s ambitious roadmap. This position allows Jeff to blend his passion for improving merchant and consumer experiences with cutting-edge technology.
"When I started in this industry, 'mobile payments' was a foreign concept," Jeff recalls with a hint of amazement in his voice. "Now, it's not just common—it's expected." This transformation isn't just about technology; it's about reimagining the entire consumer experience, a mission that has driven Jeff's career from its earliest days at American Express to his current role in advancing e-commerce innovation.
Early career at American Express
Each role that Jeff took on throughout his career enriched his knowledge and prepared him for the complex world of payments. “I applied for a role to program manage Amex’s first effort in 'mobile payments.' That sounds like a common term now, but back in 2011, most merchants and consumers didn’t know what that was,” Jeff recalls.
After several years at Amex, Jeff transitioned to Restaurant Brands International, where he managed payments for renowned brands like Burger King, Popeyes, and Tim Hortons. This role underscored the critical importance of seamless payment solutions in enhancing customer experiences and marked a pivotal moment for Jeff. This experience taught him the importance of creating seamless, efficient payment experiences for diverse customer bases. “You can’t sell thousands of new viral chicken sandwiches if your mobile ordering is down or not functioning properly,” he notes.
Naturally, Jeff's journey then led him to the fintech sector, where he managed significant financial partnerships at Stripe and now Bolt, further solidifying his expertise in innovative payment solutions.
Leading financial partnerships at Bolt
At Bolt, there is a focus on integrating identity with payments to create seamless online shopping experiences for consumers that increase spend and conversion for merchants. By leveraging technology and data, Bolt simplifies the checkout process, reducing the need for repetitive data entry and enhancing the overall user experience. This is something that piqued Jeff’s interest. “One of the trends in payments that I'm most interested in is tying identity to payments to power more personalized user experiences,” he shares. This focus on identity and seamless unique ecommerce experiences is central to Bolt’s strategy to revolutionize merchant and consumer interactions. Shoppers in digital channels value their time and technology, so merchants should make checkout and payment so quick and easy that the excitement is centered around the goods and services, not the payment.
In his current role at Bolt, Jeff leads financial and fintech partnerships, overseeing existing partnerships and strategizing new business development. He works closely with product and sales teams to develop Bolt's roadmap and explore partnership opportunities for product builds. “Our key goals for this year are to scale our checkout solutions for shoppers that increase conversion and spend for merchants, add new features that help our merchants grow, and continue to deliver new value to shoppers as we expand our shopper network,” he explains.
One of the significant challenges Bolt faces is educating merchants that are focused on emerging technologies in ecommerce. All merchants know they need to stand up payments acceptance but we are offering new technology that enhances the overall shopping experience and grows revenue for our merchants. As a startup, resource prioritization is crucial, and Jeff emphasizes the importance of focusing on initiatives that promise the greatest impact. “Being very smart about prioritization and then getting cross-functional alignment on that,” he notes, is key to overcoming resource constraints.
“At a fintech, there are always so many things you want to build to add value to your end customers, but the biggest challenge is making the critical trade-offs around prioritization to have the greatest impact,” he explains. Additionally, educating the market about new sub-industries within ecommerce requires persistent effort and clear communication.
The evolution of the payments role
The role of payments professionals has evolved significantly over the course of Jeff’s career. What was once a backend function focused on transaction processing is now a strategic role integral to business operations. Payments can drive sales, optimize or improve margins, and create new revenue streams through innovative solutions like mobile ordering and innovative technology for fraud prevention.
At Restaurant Brands, Jeff points out that he was the first dedicated payments hire. Today, however, payments roles are pivotal in both fintech and merchant organizations, driving not just financial transactions but also business growth and customer satisfaction. “Businesses are recognizing that payments can actually increase your sales or improve your margins, and there's so much opportunity in product and partnerships that goes into that,” he explains.
Payments is now a large field and, for those starting in payments, Jeff's advice is to find their passion within it. A career in payments can encompass a wide range of activities, from mobile and digital innovations to fraud prevention and partnership development and Jeff’s advice is to identify what excites you the most and pursue it with dedication. Choose the paths or roles in payments that you are most curious about and your passion will drive hard work in your roles that will lead to success. Much of my learning came from the roles I threw myself into so find your area of passion, and pursue that and keep pursuing the things that you have the most passion for,” he advises.
And this outlook is also how he finds the best people for his team. Jeff looks for individuals who are genuinely passionate about solving problems and achieving objectives. “True work ethic and desire that comes with your passion, I think, is a critical thing to find throughout interview processes,” he emphasizes.
Prioritize balance and learning
Balancing a demanding career with personal life, Jeff underscores the importance of work-life balance, supported by Bolt's flexible culture as a remote-first company. This balance not only enhances his professional performance but also ensures he remains present for his family. “I can definitely maintain a work-life balance. I think Bolt does an amazing job of allowing for that,” he affirms.
In the dynamic payments industry, professionals like Jeff are at the forefront of innovation, shaping better experiences for both merchants and consumers. By embracing his passion he has been a part of businesses that are driving the industry forward, creating exciting opportunities for growth and transformation.
And the advice that he passes on to others is, “Throughout your career, you'll encounter both inspirational and ineffective leaders. Learn from both: adopt qualities from those who inspire you and avoid traits from those who don't. Each new company or leader you work for or with offers valuable opportunities for growth and learning.”
