Can you tell us more about your journey from working for several fintech startups to joining Wix, and what’s kept you interested in the fintech industry?
I’ve always been fascinated by the monetary system. It’s the undercurrent that moves everything and it is constantly evolving. Over the last 10–15 years, we’ve seen the responsibility of moving money shift from banks to fintech platforms, with technology operating in the middle. Because of this, the evolution of the user journey is always changing. I wanted to be a part of this ongoing evolution and have a stake in shaping the user experience. I believe that platforms like Wix are making a difference in their flow, and I wanted to be a part of a team that provides solutions that meet the needs of users.
What has been your proudest accomplishment since joining Wix?
My proudest accomplishment has been scaling Wix Payments from a pilot project of 10 people to a widely-adopted business solution with a global team. The company’s mission has always been to provide our users with the best products and solutions to manage their business online. It’s an honor to lead Wix Payments, an integral piece of propelling this forward by providing a native payment solution to manage their entire business, payments, and payouts, all from the Wix platform.
What is your team focused on these days?
We are focused on understanding how we can help users around the world manage their payments with a native solution tailored to their needs. We strive to make the financial aspects of operating a business, such as opening a Wix Payments account and getting payments and payouts, as simple and intuitive as possible. At the end of the day, we want to do the heavy lifting so users can focus on what they do best: running their businesses.
We strive to make the financial aspects of operating a business, such as opening a Wix Payments account and getting payments and payouts, as simple and intuitive as possible.
In what ways has Wix’s customer base changed since the company’s founding in 2006?
Websites have become much more interactive and transactional. In 2006, a website was maybe a page with some images and text. Now it can be used to sell products and services, communicate with customers in real time, manage mailing lists and events, and so much more. All of this requires specific products and features, tailored specifically to the needs of each business.
As a result, Wix has expanded to become a complete operating system to manage an entire business online. This includes a wide range of commerce and business solutions to help users maximize SEO, transact, facilitate deliveries, and go beyond a simple website. Wix supports self-creators, small businesses, agencies, and enterprises in many different verticals including retail, restaurants, fitness, and more.
How do you think Wix’s platform will continue to evolve?
Our CEO, Avishai Abrahami, set a goal to have 50% of the internet built on Wix, and for that to happen, the platform must constantly evolve to stay relevant with industry trends and our users’ needs. For example, this year we launched our new Wix Editor, which simplifies complex design capabilities and enables all users, from self-creators to professional web developers, designers, and agencies, to swiftly turn their web creation visions into realities. It’s just one example of us removing barriers that complicate growing and managing a business online.
How is Wix helping deliver seamless transactions from start to finish?
The personalization of the buyer’s journey has been growing for several years now. We’ve made significant strides to make the checkout and payment experience seamless for merchants and their customers. They expect to have multiple payment methods to choose from at checkout, whether it’s their own local payment solutions, buy now, pay later (BNPL), or Apple Pay.
Additionally, one of the most sensitive touchpoints in the customer journey is the actual payment because you’re asking people to share their credit card information, shipping address, and more.
As a company, Wix provides enterprise-grade security and performance for all users and this is a key aspect for Wix Payments in enabling a seamless experience for both merchants and their customers.
We’ve made significant strides to make the checkout and payment experience seamless for merchants and their customers.
How do you see small businesses on Wix taking advantage of your platform?
Broadly, small businesses are taking advantage of running their entire business from one place. Activities that once required a lot of resources, or were only accessible to large enterprises, are now readily available to small businesses. This can include logistics like shipping and drop-shipping, marketing, SEO, and much more. Because of this, the world of side gigs has become a main gig for many people.
For example, Wix enables small businesses to create their own Branded App, which enables users to have ultimate ownership and freedom to design their own native mobile app. For business owners, having their own branded app opens another platform to activate their brand and connect with their customers.
How is Stripe helping businesses on Wix?
Along with online payments, we offer POS solutions through Stripe that enable our Wix Payment users in the US and Canada to accept secure in-person payments of goods and services, syncing their online and their offline channels. Wix POS transactions are processed through Wix Payments via Stripe Terminal, offering Wix users a wide variety of ways to accept in-person payments including contactless cards, chip, and digital wallets.
Through integrations like these, we are able to offer our users the ability to connect integrated sales channels to their stores, and ultimately increase their revenues globally.
Stripe enables us to successfully operate across a variety of international markets by allowing Wix business owners to sell in multiple currencies and settle in the localized currency. This allows them to reach a wider audience and conduct business more efficiently.
Wix is continuously evolving to offer the latest technology to help businesses grow, and we look forward to continuing our work with Stripe to empower unique payment experiences.
Through integrations like [Stripe Terminal], we are able to offer our users the ability to connect integrated sales channels to their stores, and ultimately increase their revenues globally.