January Product Tank – My Storify

You can see my Storify from January’s Product Tank after the jump.

January Product Tank – Payments

January Product Tank – Payments

Product Tank is a monthly meeting of product management minds, curated by Mind The Product. The topic for January’s meeting was Product Management in Payments. Speakers were Andy Young from Stripe and Yuval Samet from Klarna. Here’s how it went.

  1. We have a couple of great speakers lined up for you tonight: Yuval Samet, Chief Product Officer at Klarna (@yuvalsamet) … #producttank
  2. … and Andy Young (@andyy) who works on “UK Things” at Stripe #producttank #prodmgmt
  3. Andy Young from Stripe (twitter)

  4. Stripe is the best way for developers to accept payments online and by mobile. Andy talked about how product management works in his company, and how having a great user experience is a competitive advantage.

  5. 1st lesson from #producttank. Focus relentlessly on your user, know what they want and need, build that.
  6. 10% better is not enough. It doesn’t create a competitive advantage, says @andyy at #ProductTank pic.twitter.com/1j1Tl97ejC
  7. .@stripe @andyy your checkout pages should not be generic or uniform – address each mkt #producttank #prodmgmt
  8. 2nd lesson from #producttank. (At @stripe) everyone is doing product management. (Compare w/ the idea that everything we do is marketing.)
  9. There was a gasp when Andy said Stripe have no product managers. Instead, everyone has a product management responsibility. The engineers have a product management
    role. The organisation has a flat structure. Any team can ship at any
    time. All emails are open to all users all the time – cuts down on
    time wasted in meetings, instead users can just search the archive.
    (more on that email policy here)

  10. Email transparency, nice concept from @andyy / @stripe – anybody can access emails internally – good use case for @copyinapp #ProductTank
  11. Read the whole companies emails??…I guess they must spend a lot of time by the water cooler! #producttank
  12. “Be excellent at one thing, to one group of people” #ProductTank
  13. Yuval Samet of Klarna (twitter)

  14. Klarna is the easiest way for
    consumers to pay online. It is a big player in the Northern Europe
    ecommerce market, accounting for around 30% of all ecommerce
    transactions in the last year. It works by asking the customer for
    three tiny snippets of information which are sufficient to decide
    whether to underwrite their purchase. The decision is made in real
    time, and customers receive a fee-free invoice by email after the
    goods are delivered.

  15. Key success factors for #prodmgmt – CEO @Klarna is product mgr by nature, works well with engineering (@yuvalsamet) #producttank #prodmgmt
  16. Yuval spoke about the culture of Klarna, and about how its many product managers work.
  17. 3rd lesson from #producttank. Help your users to feel like James Bond.
  18. New user only provides email, zipcode and nat’l ID no. – @Klarna authenticates, extends credit, makes the payment @yuvalsamet #producttank
  19. Best Product manager definition I’ve heard = single throat to choke if something goes wrong #producttank
  20. 4th lesson from #producttank. The product manager should be the CEO of the product…the “single throat to choke”…
  21. How to disrupt the point of sale experience by @Klarna – brave live demo from @yuvalsamet #producttank #prodmgmt
  22. .@Klarna dual track agile – engineers are always fed with mature prototypes not requirement docs @yuvalsamet #producttank #prodmgmt
  23. People are willing to consume credit from different providers providing a balance simplicity and clarity @yuvalsamet #producttank #prodmgmt
  24. 5th lesson from #producttank. Software as a service as a service, e.g. drop-in checkout. Let your customer focus on their own business.
  25. .@Klarna @yuvalsamet payments r hugely market dependent what works in 1 country might not in another #producttank #prodmgmt
  26. 6th lesson from #producttank. Payments is a global concept, but diversity of economies and cultures actually make it a hyperlocal problem
  27. Great talk by Yuval Samet last night at Product Tank London. @yuvalsamet I’d love to hear more about your post-military Product journey!
  28. Questions and Answers

  29. A1: @yuvalsamet: @Klarna has a comprehensive risk operation, and algorithms to detect fraud – this is their special sauce #producttank
  30. Q2: company about to integrate payments for first time – any advice on what not to do? #producttank #prodmgmt
  31. A2: many modern APIs allow users to get going quickly and to iterate, experiment – mistakes can be reworked @andyy #producttank #prodmgmt
  32. Q4: In terms of the groups described – how big are they @stripe, do people move between groups? #producttank #prodmgmt
  33. A4: About 8 or so people in team, with product owner, people move between teams and coordinate on diff levels in @asana #producttank
  34. A4: decisions are made by consensus, everyone listens to opinions, but opinions backed by evidence @andyy #producttank #prodmgmt
  35. Q5: How much does CEO’s approach affect the rest of the company? #producttank #prodmgmt
  36. A5: some companies are founded by people who are product-centric, some not. The prevalent culture within the company that is important.
  37. The evening offered two very
    different perspectives on product management in payments, from two
    very different companies.

    (I’ll post a link here to
    the video of the talks once they go up at the Mind the Product page)

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