Fintech Disruptor Reach Gains Momentum with Appointment of David Mays as Independent Board Member
- Payments , People Moves
- 29.06.2021 10:20 am
Reach, the global payment localization provider, has further strengthened its senior management team by appointing leading cross-border ecommerce stalwart, Dave Mays, as an independent board member.
Mays’ appointment is the latest strategic hire by the disruptive fintech pioneer as it reaches a pivotal stage in its expansion plans, which are gathering pace as the borderless payments ecosystem continues to soar to an estimated $156 trillion in payment flows just by 2022.
With 21 years’ experience leading cross-border and ecommerce logistics businesses, including as founder of parcel logistics and distribution specialist Landmark Global, Mays will drive Reach to the next level of growth.
As someone with a unique understanding of overcoming the obstacles a growing business can face, Mays comments: “As much as there is a bounty of untapped opportunities for merchants in the modern world of ecommerce, so too do they face real challenges, none more so than the rise in competition and the potential for inflation following the COVID-19 pandemic. The ever-present possibility of regulatory changes that restrict companies from doing business outside of North America also impact not only a merchant’s ability but desire to enter the competitive cross-border ecommerce arena.
“With so many factors that merchants must consider when operating global ecommerce operations, I’m thrilled to be joining such a pioneering company as Reach, which truly has the ability to help retailers deal with these issues and to become a market leader by doing so.”
After the most fiscally successful start to a year in Reach’s history, Mays is the latest senior hire attracted to Reach’s growing team as it makes its mark in new territories and leverages a portfolio of powerful strategic partnerships worldwide. Reach’s rapidly expanding headcount, which has doubled in size from 40 to 80 in just six months, is testament to the strength and broad appeal of its proposition to businesses of all sizes in all sectors.
“Payments are the most complex and important piece of an international transaction. Managing payments on a global scale can be difficult, creating company liabilities, adding risk, and introducing roadblocks to growth and indeed participation in the cross-border ecommerce space. I believe that Reach is in the best possible position to provide logistics and payments solutions to retailers looking to serve the top 30 international markets,” Mays continues.
Reach’s platform empowers businesses to expand on a global scale by offering localized processing, which reduces costs, increases conversion rates, and offers customers across the world a better shopping experience. At a time when ecommerce has become increasingly popular from both a B2C and B2B perspective, localized payments processing provides huge rewards for small and medium businesses looking to compete with the big players in the industry.
Sam Ranieri, CEO of Reach, adds: “We’re honored to welcome Dave as a member of the board at Reach and already witness the profound impact his years’ experience and expertise is bringing to our team. From parcel flow and customs clearance to fulfilment functions and bolstering operational efficiencies in emergency and desirable territories, his understanding of business and tackling challenges will be vital as we move forward in 2021 and beyond.
“The appetite for cross-border ecommerce has never been higher, with more customers looking beyond their own localities for goods and services. We know the true value that Reach can bring to these retailers and consumers alike. We are incredibly proud of the progress we have made over the last year and we want to continue to support retailers who are finding themselves faced with new challenges. There are huge opportunities for retailers working in cross-border ecommerce and with appointments like Dave we are putting ourselves in the best position to help brands take those opportunities.”
This announcement follows the news that Reach recently welcomed Sarah Hermary as Head of Human Resources and Lohrasp Seify as Head of Data. Reach’s phenomenal growth in such a short space of time is accompanied by its relocation into an entire floor of the Edison building, one of Calgary’s most prestigious workspaces. The Edison is home to a range of financial and technology enterprises, making it the ideal location for an innovative fintech disruptor.