Guillaume Pousaz has become one of the biggest fintech leaders in the world. As the founder of Checkout.com, Pousaz initially sought the investment banker route, but later dropped out of college to pursue surfing in California full time.
Guillaume Pousaz: Crypto Adoption Is Still Somewhat Low
When things on the ocean did not quite pan out the way he had hoped, Pousaz got a job at International Payment Consultants and then left to create his own digital startup. This company turned out to be Checkout.com, and since first arriving on the scene in 2012, several retailers have sought out the enterprise’s services to help them resolve any ongoing payment processing issues they might be experiencing.
One of the situations Pousaz has been encountering as of late involves companies looking to accept cryptocurrencies as forms of payment. Initially, most forms of crypto – such as bitcoin – were designed as a way of knocking fiat currencies, checks and credit cards to the side. It was hoped that digital currencies would soon become the go-to items to purchase goods and services, though this journey has been extremely slow given the volatility that has often come with these assets.
Traders are seeing this now more than ever. Bitcoin, for example, was trading at a new all-time high of approximately $64,000 per unit back in mid-April, though now (three months later), the currency has dropped by more than 50 percent. It is price swings like this over the years that have caused many companies to reject bitcoin and revert to the old ways of conducting business.
Things Could Potentially Change
For the most part, Pousaz says that crypto adoption amongst retail outlets is still relatively low, though he anticipates things will improve over the years, especially given how in demand bitcoin and so many other forms of crypto have become during the past 15 months. In a recent interview, he stated:
We are really excited to observe the innovation happening in crypto right now. We are technologists at heart and believe in the power of tech to simplify financial services. As it stands, we work with crypto merchants like Coinbase to facilitate fiat to crypto on-ramps or payouts. From time to time, we do hear from our merchants that they are considering accepting crypto payments. Right now, adoption remains relatively low, and so it has yet to make it onto our roadmap, although I think it is certainly possible in the future. We continue to be engaged in the conversation and developments of cryptocurrencies and believe in the need for strong regulation to protect the ecosystem and the consumers it serves.
Checkout.com recently ranked number 13 on CNBC’s Disruptor 50 list. In 2019, the company made headlines when it managed to rake in an impressive $230 million in Series A funding, giving the company a total valuation of around $2 billion.