What is a Payments Account Manager? How much do Payments Account Managers earn? How do you get your first job as a Payments Account Manager and what’s the long-term career potential? In this job explained profile we explore everything you need to know about Payments Account Manager jobs. . .
What is a Payments Account Manager?
A payments account manager looks after a Fintech company’s relationship with its customers with the goal of retaining revenue and generating expansion. They are in charge of building long-term relationships with a group of clients and usually stay with those customers for the length of their relationship with the company.
The Payments Account Manager role is sometimes hybridized with other roles including:
What does a Payments Account Manager do within the Payments and Fintech industry?
Account managers in the payments space need to understand the industry ecosystem as well as have a good background in and thorough understanding of the technology used in Payments and Fintech. This specialist knowledge is essential to be able to upsell or cross sell across accounts and give clients relevant advice.
Payments Account Manager Job Duties:
Generate sales among client accounts, including upselling and cross-selling.
Operate as the point of contact for assigned customers.
Develop and maintain long-term relationships with accounts.
Making sure clients receive requested products and services in a timely fashion.
Communicating client needs and demands to employer company.
Forecasting and tracking client account metrics.
Manage projects within client relationships, working to carry out client goals while meeting company goals.
Identifying opportunities to grow business with existing clients.
Coordinating with staff members working on the same account to ensure consistent service.
Collaborating with the sales team to reach prospective clients.
Keeping records of client transactions.
Potential to make a significant difference in your client's business.
Getting to know your client extremely well and build strong relationships.
Becoming an indispensable extension of your client's marketing team.
Maintaining a single client focus.
Ability to spread the load amongst your team.
Working with large, high profile clients looks good on your CV.
Variety of work.
Less pressure to bring in new customers compared to sales managers on the commercial end.
Harder to stand out as an individual.
Lack of client and campaign variety.
Client prioritisation challenges when project or campaign deadlines clash.
Can be hard to get to know individuals when managing multiple clients.
Less money vs business development managers.
How much do Payments Account managers earn?
Junior account managers can average £35k plus a yearly bonus. More mid-level positions - requiring more experience can expect to earn between €45k-60k, even as much as 70k , while senior account managers can command a salary between 55 to 85k, with top level earners making 100k+.
What skills and qualifications do you need to become a Payments Account Manager?
Experience working within payments and servicing financial institutions and/or banks.
Experience in working within sales and account management within a payments organisation.
Dynamic, sharp and independent, possess excellent commercial, negotiation, and presentation skills.
Ability to network at all levels, with strong verbal and written communication skills.
Experience working in financial product, gaming or gambling industry.
Account Management Experience
Client-Focused Solutions Experience
Project Management Skills
Ability to Communicate Client Needs with Staff
Talent for Influencing Client Management
Ability to Manage Multiple Projects and Relationships Simultaneously
Time Management Skills
How do I get a job as a Account Manager in payments and Fintech?
Becoming an Account Manager requires a good deal of experience working in sales with additional relevant experience working within the payments and Fintech sector. You’ll find Account Manager jobs advertised online, including junior, mid-level and senior positions. Be sure to include all relevant qualifications and experience when writing your CV - and don’t forget to send us a copy too, as we often have exclusive and unadvertised Account Manager jobs.