- Today, we're joined by Olga Karablina, a seasoned business woman who previously ran a successful travel business in South Africa and went on to build a top career in fintech. Olga is Ecommpay's Head of Payment Product Development and Partner Relations, and in this interview, we chat about the culture shock of starting a business on the other side of the world, and her experience of working in the male-dominated fintech industry.
Let's start from the beginning. Please tell us a little about your early life and career journey.
I was driven and slightly stubborn as a child, though my parents taught me to have respect for others, as well as to be independent.
While still at school, I applied for a job as an office administrator during the summer holidays. It was an interesting experience, but ultimately, I decided I didn't want to be trapped within the four walls of an office.
Years later, I received a Bachelor's in Economics and completed some additional courses in travel and hospitality. I imagined that I'd be able to travel and make money at the same time, which I found very appealing! Eventually, my dream became a reality when I started a travel business in South Africa.
That's an exciting career move! How did you end up in South Africa? What was it like to be a businesswoman in South Africa?
I would say honestly, it didn't cross my mind that, as a woman, I would encounter any difficulties or blocks. In fact, I experienced quite the opposite.
In Europe, I feel that many women in business face certain struggles or have to put in extra effort to move forward. In South Africa, people simply supported me and wanted me to be successful.
Was there anything difficult about living there?
Definitely. As a foreigner, opening a company was more challenging than I thought.
In Europe, you are used to doing everything fast online, and there are plenty of manuals and guidance to help you get up and running. You must be very patient in South Africa, often queuing for hours and being turned away if forms are not filled out correctly.
Did you receive any guidance from locals or colleagues?
Once I decided to set up an agency for inbound travel, I visited WTM (World Travel Market). Their expos take place in several cities worldwide, including London and Durban. I visited a WTM expo in my first year, and I was surprised how many people were willing to help my startup, including hoteliers and the Association of Tour Guides.
What helped your business stand out and helped you become successful?
I think it was down to my attitude. Even now, I believe you must go to work each day to a job you love and take a positive attitude with you. When you run a business, it means you don't have paid holidays, and you don't have sick leave. You basically have to rely on yourself and no one else. It can be really hard in the beginning, so you have to love what you do.
After eight years in South Africa, you decided to move back to Latvia. Why did you make that decision?
I thought it was important for my daughter — who was born in South Africa — to be able to enjoy the company of her grandparents. I'd also managed to successfully run my own travel agency for eight years and thought I'd like to try working for a big corporate company, as it was something I hadn't done before. I tried my hand at various sales positions before ending up at Ecommpay.
Was the transition back to Europe difficult?
It was. When I moved to South Africa, I was surprised about how nice, open and friendly the people were. When I moved back to my home country, I felt like a foreigner. Luckily, I had support from my friends, but essentially, I had to start over from scratch.
So, did you feel any sort of discrimination when you moved back to Europe?
Discrimination is a powerful word. I felt a different kind of acceptance from people in business meetings and conferences and felt that I had to make a strong first impression. I think convincing an audience is very different for a man compared to a woman, and sometimes I felt like I had to prove that I knew what I was doing.
So, after working as a sales manager, you ended up at Ecommpay. What drew you to the job?
Initially, I applied for a sales position at Ecommpay. I sent my CV and was invited to an interview. Unfortunately, the day before my interview, I lost the keys to my flat and had to stay at my sister's house. I had no time to find a proper smart outfit and had less time to prepare myself than I'd have liked.
Fortunately, the interview went well, and I had a nice chat with HR.
However, the next day, Ecommpay called me and said, 'We liked you, but we're not going to offer you a sales position. We're going to offer you a position as a partner manager'. I said, 'Okay, fine, I agree', although I had no real idea what that meant!
I was very excited to get started in a corporate environment, but I didn't have any experience in the acquiring business.
The first few days and probably weeks were tough as I realised I had much to learn, but I enjoyed the new challenge very much.
What was the transition period like when you started your new career at Ecommpay?
I was very excited because it looked like I had achieved my goal of working in a corporate environment. The problem was I had no experience in fintech or the acquiring business. The first few weeks and months were tough because I had to learn all the terminology. It was a steep learning curve, but I enjoyed the challenge.
You've now had a very successful career in fintech. What is your job role today?
My current role is the Head of Payment Product Development. I started as the partner manager for the affiliate program, so my role now carries a huge responsibility.
However, I work in a field where I can develop and realise my ideas, helping the company grow, be profitable, and build a good brand image.
As for the specifics of my job, I help develop products around all of the alternative or local payment methods required to pay online. For example, imagine you own a business in the UK that sells clothing.
A shopper in France is browsing your online store and decides they want to buy an item. When it's time to go to the checkout and pay, that shopper sees a Bank of France logo, at which point, they think, 'Oh wow, I can pay securely with my bank. That's really cool, even though I'm shopping from a non-French shop'.
The ability to have these region-specific payment methods on a checkout page is part of what I do.
We look for partners, check local markets in different countries, observe how people pay there, and what payment methods they trust.
Armed with that information, we can advise our clients to add these payment methods to their checkout pages to increase conversion.
What is your current focus when it comes to these popular alternative payment methods?
The example I used a moment ago about the Bank of France was a functionality of Open Banking, which is a strong focus for me at the moment.
In many European countries, people prefer to pay by bank rather than by card, which makes Open Banking a useful addition to e-commerce checkouts.It's also worth noting that this payment method completely removes the risk of chargebacks, making it an interesting proposition for online merchants.
Finally, because Open Banking uses strong customer authentication, it's almost 100% guaranteed that the person making the payment is a legitimate shopper, which vastly reduces the risk of fraud compared to card payments.
As well as cross-border solutions for Europe and the UK, we’re also building some great products for accepting payments from Asia and South America.
South America is an interesting market and one of the fastest-developing regions for online businesses today. So obviously, we're paying a lot of attention to that part of the world.
Aside from the advantages for merchants, why is Open Banking a particular focus for you and your team?
Open Banking is a modern, secure, and versatile technology that allows Ecommpay to offer high-speed processing and transfer times with fewer middlemen. With a single integration, we can provide merchants with all the popular payment methods their customers expect, allowing them to expand effortlessly into new markets and quickly react to new innovations and trends.
And finally, for those inspired by your personal story, what advice do you have for other women in fintech?
Ecommpay is a company where women hold quite a few management positions, so I can't really speak about discrimination here.
However, regarding general advice, I'd say the most important thing is to support other women around you. If someone is willing to build a career, help them, educate them, and try to be a good mentor.
My second piece of advice would be to not think too much about being a woman in a male-dominated sector. If you have to walk into a room full of men, chat with directors and lead meetings, don't put yourself in the mindset that you are in a lower position.
Try to normalise the situation and feel your power. Don't underestimate yourself in any situation.
