Payments & More - Allyiz Show
Episode 8: On the road to Asia | Elodie Trichet
Tune in to this episode of the Payments & More podcast with host Nico as he chats with payments professionals about their business journeys and lessons learned. Don’t miss out on the stories and perspectives they share that will shed light on what’s hot in the payments space.
Today’s guest is Elodie Trichet, who has 18 years of experience in payments, with 10 of those years being with Adyen. As Elodie is based in Singapore, today we will hear how consumers are thinking in Asia and learn about local regulations specific to Asian countries.
To begin, both Nico and Elodie attest that many payments expats happen to be French. Elodie explains that her entrance into the world of payments was by complete coincidence. She was offered a position with Bibit upon relocating to the Netherlands, which captured her initial fascination with the career path. Some time afterwards, she became Head Partnership at Adyen, eventually finding it most logical to relocate to Singapore. Believing initially that this would lessen her time spent traveling, she has found herself travelling even more now than before.
Then, Nico asks Elodie to share her perspective regarding Asian consumer markets. She articulates some of the factors which vary from country to country, with the Philippines being an example of an economy heavily reliant on pawn shops and bartering goods to make payments. In Indonesia, she explains payments are often made at local convenience stores. She points out that some very remote areas, like Indonesian islands, don’t even have ATMs. Listen as Elodie explains how some of those cash-driven societies operate. There has been quite a lot of concern regarding the growing digitization of finances, and many companies are working to address this.
Marketplaces, especially in China, have become big and more Asian merchants are now creating online commerce profiles. Elodie speaks of the acceleration of various tech platforms in Asia and the benefits of such technology. They discuss the subsequent growth of QR payments, which Elodie says is quite prevalent in Asia as well. They share their predictions on the elimination of card-based payments in light of online wallets and the rivalry between public versus private payment sectors. There is definitely a new generation of financial technologists, but because Southeast Asia is so regulated, Elodie believes it is difficult for them to emerge into the market. These regulations are fragmented but are slowly coming around in terms of data protection and how money is stored.
Nico takes a break for the Golden Minute in this episode to hear how Elodie would pitch a call to action for merchants moving into the Asian market as the President of all e-commerce merchants in the world. She would urge them to come to Asia and explore the markets by themselves, get to know their customers and build strong in-person relationships.
The episode draws to a close on a personal note. Elodie shares an instance in which she failed in her career when she first arrived in Asia. It was her Western mind frame trying to make things as frictionless as possible, but she soon realized the market was not quite ready to dive straight in. She gives insight into her passion for climbing volcanoes and describes her ideal gift.
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0:38 - Elodie Trichet introduced
2:46 - How Elodie got started in the industry
4:00 - Elodie’s relocation to Singapore
4:45 - Praise for Elodie
5:30 - Discussing Asian consumers
7:30 - Is there concern in Asia over growing financial digitalization?
9:05 - Is commerce possible in Asia in just a market setting?
12:55 - Growth of QR Payments
14:00 - Discussing credit cards and private vs. public payment sectors
16:20 - New generation of FinTech
19:35 - Regulations in Asia
20:36 - Golden minute
24:28 - Elodie shares a career failure
27:15 - Closing words
About Elodie Trichet
Over 16 years of International Online Payment experience across all continents for B2C & B2B business. After 11 years in the Netherlands, relocated to Singapore 6 years ago heading up Strategic Partnership & Market development for the region. Work closely with the tech giants and multinational companies assisting them in expanding their Ecommerce footprint across the globe and enter the more exotic markets as seamless as possible.
Connect with Elodie on LinkedIn.
Allyiz (pronounced allies) is the “go-to” company for payments experts for businesses who want to source knowledge, time or people. Allyiz distinguishes ourselves from consultancies by bringing the expertise and experience of professionals who have successfully run the function on the business side and have done it well many times. We run short projects and deliver actionable results.
Email Allyiz or leave us your comment on LinkedIn on what questions you’d like answered, suggestions on people to interview, or any other thoughts you have!