Nikos Theodorou is Head of Payments at Remote, a company that helps organizations access and hire global talent remotely. Nikos’s story is one of continuous learning and adaptation, navigating the intricacies of global payments and sharing his passion for innovation in this ever-evolving field. Here, he shares his story, highlighting his fascination with payments and why he left eBay for a start-up that is redefining how people work.
I began with an undergraduate degree in engineering, majoring in EE&CS. Following my studies, I served in the Greek Hellenic Navy before moving to the U.S. for graduate school. Afterward, I transitioned into consulting, a field I stayed in for nearly four years.
My first exposure to payments came through a project involving card networks and banks. I was captivated by the complexity and the ongoing discovery process at the intersection of global compliance, regulation, and innovation. After managing several projects in this area, I decided to join eBay, where my payments career truly began.
I joined eBay in 2019, right after its split from PayPal. This timing provided a unique opportunity to build a new payment infrastructure from the ground up, supported by a well-funded global brand. It was a novel and challenging experience—like changing a plane's engines while it was still in the air.
At that time, the team was enormous. About 400 engineers were dedicated solely to payments, along with 100 people on the business and operational side.
While I enjoyed the deep experiences and unique challenges at eBay, there were some downsides typical of large companies. Though necessary, the numerous constraints, approvals, and internal processes could be cumbersome and frustrating.
I wanted to move to a smaller company where I had more autonomy and payments could be built more quickly. At Remote, decision-making is fast: you present a solid case with data, and if everyone agrees, you can act immediately. That’s what I love about working here—we’re creating a new way of working, and that means making change happen fast.
When I joined Remote, I was one of the first payment specialists, working alongside the current Head of Payment Operations. Initially, I reported to the VP of Finance, but now I report to the COO. As a payments leader, I oversee operations, partnerships, strategy, and the licensing operations team, and working closely with our product and engineering teams on their quarterly and annual roadmaps...
Our function handles payroll payments to over 80 countries and contractor payments to more than 150 countries. We aim to deliver an industry-leading experience to everyone involved.
Our team consists of roughly 10-11 operations and partnership specialists, five product managers, and around 15 engineers.
Although it’s a relatively small team for a global organization, everyone here is an expert in their field, and we are very agile. We automate routine tasks, focus manual operations on edge cases, and have adopted an API-first approach to our infrastructure.
My job involves a bit of everything, depending on current priorities. I might handle incidents such as double payments or an increase in chargebacks or manage a key payment partner essential for our cross-border payment flows. Other times, I’m focused on building out our core infrastructure, preparing for our payment licenses, dealing with regulators, and working with sponsor banks in the U.S.
Education is also a crucial part of my role. I ensure our product teams have sufficient guidance on what they’re building and why while also communicating various complexities to other functions and decision-makers.
There isn’t a one-size-fits-all approach. In our context, we optimize for customer experience, speed of payments, and economics. I explain that one of these aspects will suffer unless we take specific actions. Starting from the North Star, or the end goal, helps bring people along on the journey and makes it easier for them to see why specific steps are essential. This approach ensures everyone understands the reasoning behind our decisions and the impact on our overall objectives.
The best thing is the constant novelty. Every day, there’s a new challenge or learning opportunity that keeps me engaged. Building tangible systems and seeing the actual movement of money—from customer payment to recipient receipt—is incredibly rewarding.
On the flip side, there are some frustrations, especially when navigating global regulations. There can be many grey areas, so having a business-minded legal team that can bridge the gap between law and business objectives is crucial. Another tricky aspect is managing expectations. People who don’t work in payments often expect things to happen quickly, which isn’t always feasible. That’s why education is so important.
I always look for two key attributes: ownership and a willingness to learn. I’ve hired many people without a payment background simply because they’ve demonstrated these abilities.
Ownership involves not waiting for direction and being able to push things forward. Payments are such a niche and time-sensitive field that when things go wrong, you need people who can respond and react quickly, even before issues arise. This quality will always be vital, regardless of technological advancements like AI.
A willingness to learn is equally important. The payment landscape constantly evolves with new regulations, technologies, and market dynamics. Having a team that can quickly adapt and grow with these changes is crucial. These attributes will remain essential as the field continues to advance.
Absolutely—it’s a fascinating field for anyone who loves to learn. There are countless details to master, so you’ll never be bored. FinTech and payments are also part of a tight-knit community where people generally know each other, creating a great environment full of opportunities.
I advise newbies to be patient with the steep learning curve and not be afraid to lean on others for their experience. Even today, there are some nuanced rules for certain transactions (e.g., ACH) that I may not fully know, but I’ll rely on my Head of Operations who is a true expert in that field... Collaboration is crucial because, in this industry, no single person can know everything. Embrace the learning process and make use of the expertise around you.
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