Money 20/20: Serena Williams, a businesswoman who attracts crowds

The second full day of sessions at Money20/20 USA kicked off with a bang today, as tennis legend Serena Williams took to the stage to discuss her VC fund: Serena Ventures.

Serena sat down with Takis Georgakopoulos, Global Head of Payments at J.P. Morgan and Scarlett Sieber, Money20/20’s Chief Strategy & Growth Officer to discuss changes in consumer shopping habits and the influence of social media, the emergence of smart devices, and the blurring of the lines between the online and offline world. The trio also discussed how blockchain technology has the capability to be the method of payment in the future. Georgakopoulos elaborated on JPM’s shift in thinking from payments rails to taking on the full end to end solutions and supporting ecosystems.

The day continued with fintech predictions from Vinod Khosla, Founder of Khosla Ventures. And a technology race with China is coming for the US – and that’s a good thing, because that will mean multiple parties innovating multiple technologies, Khosla told Zach Anderson Pettet, US Content Director for Money20/20. “I think that a technology race is good for the planet, but people’s self-interest will determine how they use those capabilities,” he said. However, these platforms will also open up a lot more possibilities for entrepreneurs. Currently though, times might be hard in fintech when it comes to funding – thanks to the current economic environment – but that might be a good thing for entrepreneurs, Khosla said. “Maybe funding is a little harder to get, but if you get it, your competitors also aren’t going to be funded as easily, and maybe not with as much money,” Khosla said. “So I think that the capital you raise will be used much more efficiently than it would have been two or three years ago.”

Throughout the day, innovation in payments continued to loom large. OnlyFans CEO Amrapali Gan announced that the company has paid out $10bn to creators on its platform, since inception in 2016. The company itself experienced a 115% year-over-year growth, with revenue at $930 million, according to CFO Lee Taylor. “We only earn if the creators earn,” he said. “So our revenue of $930 million – the creators earn four times that.” Taylor was joined on stage by Zach Anderson Pettet to discuss how OnlyFans is a fintech company at heart. “To be a truly international social media platform payment network, [payment] has to be as smooth as it is to go from US to US, as it is to go from US to UK or Japan,” Taylor said.

Crypto in Payments at Money 20/20 in Las Vegas, Nevada, October 24, 2022. INSIDER IMAGES FOR MONEY 20/20

And technologists have a responsibility to innovate payments, according to May Zabaneh, VP of Product, Blockchain, Crypto & Digital Currencies at PayPal. May was joined by Jess Houlgrave, Head of Crypto Strategy at, who sat down with CNBC Reporter Hugh Son to discuss crypto as payments. May confirmed that PayPal is open to exploring crypto payments. “I think it’s our responsibility to be exploring and thinking ‘how do we make systems better,’” May said. “And how do we make it better for people and around the world?” However, it is actually the technology that has the potential to change payment systems,” Jess said – who also added that her confidence level that this technology is going to find its way into payments infrastructure is at 90%. Exactly how long that takes though, neither May nor Jess could forecast.

Jessica Turner, Executive Vice President, Global Open Banking & API at Mastercard practically had a standing room only while discussing Open Banking. The applications are already providing customers with better financial services and allowing transactions to be processed faster and more secure globally. Not only can open banking empower consumers to benefit from their own data, it is reimagining how money is transacted – one million people start using open banking every 6 months, according to the open banking implementation entity.

The day concluded with an inspirational panel discussion led by Scarlett Sieber, Chief Strategy and Growth Officer of Money 20/20, who was joined by heavy hitters Derek Jeter, Entrepreneur, Philanthropist & National Baseball HOF Inductee; Allyson Felix, Most Decorated Track & Field U.S. Olympian, President of Saysh; and Mark Sullivan, EVP, Financial Services, Salesforce. Of all the sectors using Salesforce, financial services is the fastest growing, with 70% of fintechs empowered by the Salesforce platform. People and passion are also key to succeeding in business, the panel agreed. “You have to be passionate about what you’re investing in and you need to be passionate about your people,” Derek said. “You’re going to go through it. You need a good team.”

Attendees arrive to Money 20/20 in Las Vegas, Nevada, October 24, 2022. INSIDER IMAGES FOR MONEY 20/20

See more: Money 20/20 broke the boundaries of creativity to deliver a completely immersive experience

See below for today’s announcements:

See what Scarlett Sieber, Chief Strategy and Growth Officer of Money 20/20, had to say about today!

“What a day, we kicked off with some exciting news from Money20/20; we’re heading to Bangkok! As one of the most innovative hubs for fintech, this location was the obvious choice for us, said Scarlett Sieber. “We then heard from one of the most highly decorated athletes in our lifetime, Serena Williams, but her success isn’t only confined to the court. Invited on by JP Morgan to discuss all things venture capital and embedded finance with a particular focus on payments. The audience laughed as Takis shared that JP Morgan’s share price went up 5% after Serena tweeted she was joining them on stage.”

“We then heard from other superstars: Derek Jeter, Allyson Felix and Mark Sullivan of Salesforce as they discussed how adversity and grit lead to success” she continued. “By midday, we had another invigorating talk from the CEO of OnlyFans, who offered insights into how important efficient payment processing was for the expansion of the platform, sharing that the company has paid $10 billion out to creators since its inception in 2016. The platform has also transformed the creator ecosystem, from a handful of influencers securing branded partnerships to today – a full blown creator economy.”

“Between these inspirational sessions, a wide range of keynotes, workshops, and lectures on the topics that matter in today’s fintech world: dark markets, open banking, embedded finance.”