Transaction Trends

The COVID-19 pandemic has created startling workplace challenges across the globe, and a post-COVID environment will include a new normal that could be just as challenging. The pandemic has impacted women disproportionately hard, especially relating to unemployment. The National Women’s Law Center reviewed the September 2020 report from the Bureau of Labor Statistics and found that 80% of the more than 1.1 million workers ages 20 and over who are no longer working or looking for work are women.

That’s 865,000 women – the majority of whom are women of color (37% Latino, 7% Black).

According to Ann Cairns, Executive Vice Chair, Mastercard, and featured speaker at PayTechWomenLive, presented by Wnet, COVID-19 and its impact on gender equality is undoing 50 years of progress for women. “When crisis strikes, it amplifies the disparities that always existed,” remarks Ann.

Nearly 1 million women in the year 2020 had to leave their jobs. One of the most obvious reasons for this dilemma is the lack of child and/or elder care options during the pandemic, forcing many more women than men to have to stay in the home.

On the flip side, women are more likely than men to work in industries like healthcare and social services which are more substantially affected by the coronavirus pandemic. Women working in these front-line sectors still make less money on average than their male counterparts.

With so much negative impact on women’s health, wealth and opportunities, the pandemic has toppled some of the business infrastructure that was barely stable for females in the workplace. The successful post-COVID economic recovery will rely on strengthening those foundations and improving the gender pay gap. Ann believes “It’s essential for our business that we foster a workplace where all employees feel valued, respected and empowered to reach their greatest potential. That includes equal pay for equal work.”

During the virtual PayTechWomenLive event, Ann will share ideas for combatting the many work-life balance challenges during and after the pandemic. Attendees of the 90 minute experience will learn Ann’s strategies to:

• Stay relevant and valuable while working from home or anywhere
• Make flexible scheduling work for them, their employer, and their family
• Influence a post-COVID-19 business environment that supports gender equality

“Ann Cairns’ commitment to inclusion calls for greater representation of women across all levels of international organizations, something we fully support,” said Wnet President Joan Herbig. “As a global change agent, Ann believes that optimism, inclusion and communication are key, especially during a pandemic when much of the longer-term economic impact will be burdened by women. Her insights at PayTechWomenLive will show how a post-COVID-19 environment that works better for women works better for everyone.”

The live, online experience includes interactive, small-group breakouts for attendees to network and discuss Ann’s advice about the impact of COVID-19 and gender equality on the careers of women worldwide. These breakout networking sessions will be led by some of the most successful global leaders in payments and fintech, including, but not limited to:

• Christine Lee, CEO, Billing Tree; President, Electronic Transactions Association (ETA);
• Gail Burgos, Senior Diversity and Inclusion Manager, Global Payments Inc.;
• Jodie Kelley, CEO, Electronic Transactions Association (ETA);
• Joe Carella, Assistant Dean, Eller Executive Education, University of Arizona;
• Kelly Beatty, Chief Transformation Officer, FIS;
• Liz Pike, President and Managing Director, Green Rhino Recruitment;
• Mary Uslander , SVP Product Management, Product Commercialization and Client Experience, Fiserv;
• Nicole Baxby, Director of Customer Success, Featurespace;
• Polly Van Duser, Senior Partner, Payments & Fintech – North America, Greenings International;
• Rawan Shawar, Lead Software Engineer, ACI Worldwide;
• Serena Smith, Executive, Financial Services – Realpage, Inc.;
• Stacy Hughes, Chief Information Security Officer, Global Payments; and
• Velera Wilson, Author, Speaker, Marketing Director, Fiserv.

We are honored to have Christine and Jodie of ETA leading discussions with attendees and supporting our efforts of empowering women in the payments industry.

Learn more about Ann Cairns’ gender equality solutions being presented at PayTechWomenLive on November 5, 2020 from 11:30am – 1:00pm ET: paytechwomenlive.org.