Behind the Idea Paytech World-Region-Country

Behind the Idea: Wedo

The pandemic has highlighted the importance of quick and convenient payment transactions. Combined with the ever-growing pressure on businesses to provide good customer service, the need for an all in one solution to both make payments and a strong community is needed more than ever. 

Indiana Gregg is the CEO and founder of Wedo. 25 years as a tech innovator, five times founder, Gregg believes in creating companies that truly help to change the way tech can enable people. Her current innovation and startup, Wedo, allows real-time live streaming commerce through its video/audio drop-in platform and the ability to take payments, send invoices and bank in one seamless application. Wedo helps businesses build their communities and networks and take and make payments seamlessly without the heavy fees, paywalls, or barriers.

Gregg is known for fighting pirates with her disruptive music marketplace, streaming and payments service, Kerchoonz, which had 14.5M users over a decade ago.

What has been the traditional company response to financial technology innovations nationally?

We are innovators, so building in blockchain, P2P payments with cryptocurrencies, and enabling people with both fiat and crypto payments is how we’ve reacted.

How has this changed over the past few years?

I think the financial industries have been behind the times. They are not agile and many still work with legacy tech because they have an attitude that if it’s not broken, why fix it.

Is there anything that has created a culture of change inside the company?

At Wedo, we’re technologists, so we are naturally used to rapid change. We believe in innovation and providing services that really work for people. We think forward and plan forward. Our application was built to help more people grow their business easily by giving them the tools to manage their calendar, their money, and their online meetings and seamlessly take a payment in real time, send invoices, and make contracts with their clients. The challenge is always to create something that is easy to use, simple yet super powerful, and as we continue to talk to our customers and find out what they need, the challenge is to keep it simple.

What fintech ideas have been implemented?

We’ve automated invoicing, created live instream payments via video and audio calls, and created multi-currency wallets so that even the smallest companies or service providers will have the ability to truly go global.

What benefits have these brought?

We believe people should be enabled to do their business in a few clicks. This saves time and money and allows people to focus on the stuff they love.

Do you see any other industry challenges on the horizon?

I think the industry will need to accept decentralised finance and be aware that cryptocurrencies are here to stay. The introduction of stablecoins and the growth in use over the past few years make that reality inevitable.

Can these challenges be aided by fintech?

Absolutely. The more fintech innovates, the more our financial services sector as a whole will benefit and the better we will be able to serve our end customers, whether they are B2B or B2C. Sometimes big storms of disruption truly disrupt, while sometimes big storms come to clear a path.

Final thoughts…

I think the rapid pace of technology and computing will help humans become more efficient. How we work and how we get paid is essential for both businesses and individuals, and there is a huge opportunity in the market to create better fintech and become more efficient, freeing up businesses and people to make great products and do what they love.

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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