What roles are needed within a payment team

The size of payment teams can vary significantly across companies, even within the same industry and business size. 

One company might manage its payment operations with just a few staff members, while another might employ a team of over 50 professionals. 

There are those companies that still operate with nobody dedicated to payments. 

Lucas Quinio, Head of Payments at Conforarma, explains: 

“Overall, payments is still a very new role for most businesses. I speak with many people at events, and when I tell them what I do, they’re often shocked because they didn’t realize payments is a dedicated role or that their own companies might need it too. 

“On the other hand, some people are surprised that I’m the only one doing this job at Conforama. Everyone is looking for the right setup.” 

Key roles in a payments team 

The structure of payment teams today is influenced by several factors, including a company’s organizational setup, technology stack, and functional maturity. 

However, as payment teams evolve, specific roles are becoming essential. 

Let’s explore these key roles and their responsibilities:

Head of Payments: Leads the team and oversees the strategic direction and operational efficiency of the payment systems within an organization. They ensure compliance with regulatory requirements, drive innovation, and manage relationships with financial institutions, payment processors, and other key stakeholders.

Payment Operations Manager: Oversees the daily processing of transactions, ensuring accuracy and efficiency. They handle exception management reconciliations and coordinate with other departments to resolve payment-related issues and improve operational workflows. Depending on the company's size, these individuals may also have regional remits depending on the company's size. 

Fraud & Risk Manager: Will monitor and analyze transactions to detect and prevent fraudulent activities. They develop and implement risk management strategies to minimize financial losses and ensure the security of the payment systems. 

Payment Product Manager: Oversees the development, launch, and lifecycle management of payment products and services. They work closely with cross-functional teams to ensure products meet market needs, regulatory requirements and drive business growth.

Payment Engineering Manager: Leads the engineering team responsible for developing and maintaining payment processing systems. They ensure payment solutions' reliability, security, and scalability while coordinating with other departments to integrate new technologies and features.

Payment Partnerships Manager: Develops and manages strategic relationships with payment processors, financial institutions, and other partners. They negotiate agreements, collaborate on joint initiatives, and ensure that partnerships align with the company’s business goals and enhance its payment capabilities.

Payments Data Analyst: Analyzes transaction data to uncover trends, patterns, and insights that inform business decisions. They generate reports, identify opportunities for optimization, and support risk management and fraud detection efforts through data-driven analysis.

Specialized for success

As the role of payments within businesses continues to evolve, the roles within payment teams are becoming increasingly specialized and crucial to success. 

Companies that recognize the strategic importance of payments are better positioned to enhance customer experiences, ensure operational efficiency, and drive growth. While some organizations are still in the early stages of building dedicated payment teams, the trend is shifting toward a more structured approach.