Vice President of Payment Processing

Job Description

Job Description

Job Title

Vice President, Payment Processing

This position requires an executive leader capable of balancing operational excellence, regulatory compliance, technological innovation, and strategic growth while ensuring the organization delivers secure, reliable, and customer-focused payment processing services.

Position Summary

The Vice President of Payment Processing is responsible for the strategic leadership, operational management, and continuous improvement of the organization's payment processing functions. This executive oversees payment operations, payment technology, regulatory compliance, vendor relationships, fraud prevention, and customer service while ensuring secure, efficient, and scalable payment solutions. The VP partners closely with executive leadership, technology, finance, compliance, risk management, and client-facing teams to support business growth and operational excellence.

Key Responsibilities

Strategic Leadership

• Develop and execute the organization's payment processing strategy aligned with corporate objectives.
• Identify emerging payment technologies, industry trends, and opportunities for innovation.
• Lead digital transformation initiatives to improve payment efficiency and customer experience.
• Establish departmental goals, KPIs, and performance metrics.
• Coach, mentor, and develop sales leaders and account executives, fostering a high-performance, customer-focused culture.
• Partner with Marketing and Product Management to develop go-to-market strategies, product positioning, and competitive differentiation.
• Collaborate with Operations, Technology, and Client Success teams to ensure seamless implementation and delivery of payment solutions.
• Build and maintain executive-level relationships with key clients, financial institutions, referral partners, and strategic alliances.
• Identify new market opportunities, emerging payment technologies, and industry trends to support business expansion.
• Participate in complex sales presentations, contract negotiations, and executive client meetings.
• Monitor sales pipeline, forecasting, customer acquisition, retention, and overall sales performance through key performance indicators (KPIs).
• Ensure the sales organization maintains a thorough understanding of payment processing regulations, compliance requirements, and product capabilities, especially with clients in high-risk industries
• Develop strategic partnerships with financial institutions, payment networks, Independent Sales Organizations (ISOs), fintech providers, and technology partners to expand market reach.

Payment Operations

• Ensure high availability, accuracy, and timeliness of payment processing.
• Optimize workflows to improve operational efficiency and reduce costs.
• Monitor transaction volumes and processing performance.

Technology & Innovation

• Work closely with IT and Product teams to implement payment technologies.
• Support API integrations and payment platform enhancements.
• Lead modernization initiatives including automation and artificial intelligence where appropriate.

Financial Management

• Develop and manage departmental budgets.
• Monitor processing costs, interchange expenses, and vendor contracts.
• Identify opportunities for cost savings while maintaining service quality.
• Support revenue-generating payment initiatives.
• Analyze residual reporting for accuracy and completeness
• Submit sales rep bonuses for payment to the finance department

Leadership & Talent Development

• Lead, mentor, and develop directors, managers, and operational teams.
• Foster a culture of accountability, innovation, collaboration, and continuous improvement.
• Recruit and retain high-performing talent.
• Promote employee engagement and professional development.

Qualifications

Education

• Bachelor's degree in Finance, Business Administration, Information Systems, Accounting, or a related field.
• MBA or other advanced degree preferred.

Experience

• 7-10+ years of progressive experience in payment processing, banking operations, fintech, or financial services.
• Minimum 3-5 years of senior leadership experience managing payment operations.
• Demonstrated experience leading large operational teams and strategic initiatives.
• Experience with enterprise payment platforms and payment network integrations.

Technical Knowledge

Strong knowledge of:

• ACH processing
• Wire transfers
• Card payment processing
• Real-Time Payments (RTP)
• Payment gateways and APIs
• Fraud management systems
• PCI DSS compliance
• Payment reconciliation and settlement
• Payment orchestration platforms

Core Competencies

• Strategic leadership
• Executive decision-making
• Financial and business acumen
• Operational excellence
• Regulatory compliance
• Risk management
• Process improvement
• Data-driven decision-making
• Cross-functional collaboration
• Executive communication
• Customer-focused leadership

Key Performance Indicators (KPIs)

• Operational cost reduction
• Customer satisfaction
• Vendor performance
• Service level agreement (SLA) attainment
• Employee engagement and retention

Reporting Structure

Reports To: Chief Executive Officer (CEO), Chief Operating Officer (COO)

Compensation

Competitive base salary plus aggressive commission structure with uncapped earnings.

$90-100K per year plus residuals

Additional benefits include:

• Health Benefits Package
• 401k / 4% Company Match
• Vacation / Personal time off – PTO approx 3 weeks
• Ongoing training and professional development
• Advancement opportunities as the division grows