By training, I’m an engineer, i suppose re payments expert by experience, held it’s place in fintech since 1999/2000, nearly two decades.
By education, my Ph.D. Was in aerospace engineering and I also should not be judged on that (Peter laughs), my masters was at computer engineering and my undergrad was at electric engineering, a reflection associated with the confusion at that phase of my entire life. That’s a summary of my background, I’m an engineer by training, essentially.
Peter: Okay, okay. So, you’re an engineer by training, you’ve chose to begin this business that is…it’s notably unique at a time where I don’t think anybody else was really doing much in the way of, you know, this sort of earned income access because I know you started it. Inform us a bit that is little ended up being the concept that led to the founding of PayActiv?
Safwan: in my experience, it absolutely was a thought that came throughout a period in my own life where we wasn’t doing such a thing you know, when you have a lot of time to think, you do think about the human condition and what’s going on so I had a lot of time to think and. One of several ideas that kept occurring for me and I’m chatting a decade ago had been just why is it that the wealthiest country on the planet has such a sizable pool of individuals living paycheck to paycheck. That term hadn’t yet been coined, we were into the post 2009 period of time and I also simply had been type of wondering what’s taking place here, do you know the underlying problems here and it’s also for the reason that situation that this notion of PayActiv first struck me personally. (more…)