🎙 NEXT.io Podcast #249 with Jake Dovey, CEO and Founder of PayModum
What’s the cost of not accepting something or the cost of not doing it right?
From unpacking the true cost of “cheap” payment methods to exploring PIX in Brazil, open banking in Europe, and the rise of biometric KYC, Jake explains why the path of least resistance always wins.
Jake Dovey is raising money for Chordoma UK, join us in supporting the cause at this link: https://www.justgiving.com/page/jake-dovey-1?utm_medium=FR&utm_source=CL
⏰ Timestamps:
00:00 - Intro
00:24 - Sponsors Message
01:45 - Welcome back Jake Dovey, CEO of PayModum.
02:32 - Payments as cost vs. opportunity
04:20 - “The customer is always right” explained
06:15 - Why operators shouldn’t focus on cost first
13:32 - Finance vs. product teams: balancing costs and innovation
15:09 - Integration challenges and resource bottlenecks
16:55 - Personal story: legacy vs. modern pension payment experience
18:46 - Why true cost is customer friction, not fees
21:29 - Do operators really understand payments?
22:16 - Brazil & PIX: instant bank payments explained
26:36 - Biometrics and frictionless KYC (Octo example)
29:31 - Shopify & Amazon: lessons for gaming payments
33:42 - How AI is transforming integrations & customer experience
41:34 - Biggest payment bottlenecks in iGaming
50:05 - Too early to innovate? Lessons from Pay n Play, PIX & open banking
53:31 - The challenge of recurring crypto payments
57:15 - Why innovation needs risk-taking (Rory Sutherland’s rule)
01:01:12 - Big vs. small companies: innovation culture (Apple vs. Xiaomi)
01:08:48 - PayModum’s USP: deep customer and payments understanding
01:11:22 - Closing: Jake’s fitness journey & marathon for charity
01:13:26 - Tribute to Jake’s mother & Cordoma Foundation
01:17:11 - Running, friction, and perseverance in life & business
01:21:39 - How to donate: JustGiving link & final thanks
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