What benefits come with working as a payment consultant?
Payments
Asked by Question Bot01/Jul/20131 answer
1 Answer
F
Faisal Khan
Answered 01/Jul/2013
Its very liberating to say the least.
Its not easy being a payments consultant. There is tremendous amount of learning and reading. If you have no prior exposure to banking, it can be very challenging. I cannot stress enough on how much reading is involved (especially in the regulatory, transactional banking and commercial banking areas).
It is importnat to be good in your field, for the advise and services you give, people will rely on them, and in turn their business plans and/or their income. So you need to be a domain expert in it. Another important thing is one cannot be an expert in everything, the payments landscape is very vast. Learning to say No in areas where you do not have any expertise is a must.
The biggest challenge is the amount of free information people are always asking. Time is money and you have to learn to draw the line as to how much free information you will give out. You need to understand that being a consultant is a business and your wares is your domain knowledge. So, don't be too shy in drawing the line and politely explain to the potential client, that you cannot continue providing more information without a consulting engagement.
If you're starting out, work assignments might be a little difficult to come your way without experience, but they do eventually, if you are persistent. Its not a glamorous field, it is very demanding (just like any other field).
Personal connections in this field help a lot. And if you are wondering, yes, there is decent money in it.
Its not easy being a payments consultant. There is tremendous amount of learning and reading. If you have no prior exposure to banking, it can be very challenging. I cannot stress enough on how much reading is involved (especially in the regulatory, transactional banking and commercial banking areas).
It is importnat to be good in your field, for the advise and services you give, people will rely on them, and in turn their business plans and/or their income. So you need to be a domain expert in it. Another important thing is one cannot be an expert in everything, the payments landscape is very vast. Learning to say No in areas where you do not have any expertise is a must.
The biggest challenge is the amount of free information people are always asking. Time is money and you have to learn to draw the line as to how much free information you will give out. You need to understand that being a consultant is a business and your wares is your domain knowledge. So, don't be too shy in drawing the line and politely explain to the potential client, that you cannot continue providing more information without a consulting engagement.
If you're starting out, work assignments might be a little difficult to come your way without experience, but they do eventually, if you are persistent. Its not a glamorous field, it is very demanding (just like any other field).
Personal connections in this field help a lot. And if you are wondering, yes, there is decent money in it.