Covenant Pay Partners’ CEO Quincy McKnight appeared last month on the Leaders in Payments Podcast, hosted by industry veteran Greg Myers.
On the show (embedded below), McKnight covered a multitude of subjects:
On Having Big Dreams:
As an entrepreneur, McKnight has always been a dreamer, despite his experience growing up in the foster care system. Telling a child they won’t accomplish their dreams often results in a self-fulfilling prophecy. “You have visions…you have dreams…my foster [parents] would always [say] you’re not going to have this, you’re not going to [do] that,” McKnight remembered. Instead of falling into despair, he sought to prove them wrong.
As the CEO of his second payments firm and a candidate for U.S. Congress, it’s safe to say he has achieved great success and continues to set ambitious goals.
On Starting A Career in Payments:
When asked for his advice to young professionals who are interested in the payments industry as a career, McKnight stressed the basics. “Start at the bottom…see the nuts & bolts behind everything because it’s very difficult to understand…the flow of payments,” he said. “You need to understand everything about cloud-based [payment] systems, because everything is headed that direction,” he continued.
On Creating #Gruption:
Anyone paying attention to the payments industry and the growth of FinTech companies understand disruption is an industry-favorite buzzword used to describe innovation.
Unfortunately, not all disruption is positive for consumers and merchants; Covenant Pay Partners’ focus on only good disruption resulted in the coining of a new term: Gruption, or the combination of ‘Good’ and ‘Disruption’.
Short-sighted focus on short-term metrics is normal in the payments industry. Instead, the company is committed to mutually beneficial business arrangements, forgoing opportunities to pad the bottom line in favor of building long-term relationships and creating true loyalty and advocacy.
Only focusing on what is best for their merchants and partners, not necessarily what is best for Covenant Pay Partners, is in and of itself an example of gruption.
Continue the Conversation:
To learn more about #Gruption, how to advance your career in the payments industry, or how Covenant Pay Partners can help your business increase visibility, control, and efficiency in managing your payments, make sure to follow us on LinkedIn.