Female Executive in Fintech Talks: Paysafe's Lyuba Popova on Women's Competitive Edge in the Fintech Industry

The fintech industry runs at an exhilarating pace. Working in such a fast-paced and dynamic industry, people face many challenges on a daily basis. Survey results also indicated that legal professionals generally experience higher level of stress than members of the general population. So obviously the practice of law in the fintech industry is never easy. It requires perseverance, resilience and loads of hard work to excel at the job.

Challenging and stressed though it is, a number of women, who are stereotyped as less resilient to stress than men, are working in the highly competitive profession, making a determined effort to address the heavy workloads and keep a balanced lifestyle. Lyuba Popova is just one of them.

Popova is currently Senior Legal Counsel at the Digital Wallets Division, Paysafe Group, a multinational online payments company, responsible for overseeing the overall mid-level management of the digital wallets operations of the company within the EEA.

Previously, Popova has been with DXC Technology, a Fortune 500 global IT services provider for 20 months. She parted ways with the firm and got into the fintech industry as a Legal Counsel at Paysafe in 2017.

​Fazzaco is conducting a series of special reports on women in the fintech industry. Today, we spoke to Popova and looked at what competitive advantages women have over men in practicing law in the fintech sector.

Fazzaco: Hi, Popova. Pleasure to have you here today! First, could you please tell us about yourself and your current job in Paysafe?

Popova: Nice to e-meet you, Jessica! My name is Lyuba Popova, I am a Sr Legal Counsel, Digital Wallets at Paysafe Group. My journey with the company goes back almost 5 years. I joined in mid-2017 and have since been working on Paysafe's digital wallets service offering, including its complementary services – cross-border remittance, open banking, pre-paid cards and payment network. Paysafe is a specialized payments provider and we're very focused on certain industries including the crypto space, and have recently launched an innovative embedded finance offering, and so I'll be very involved in these areas as well as other opportunities we see in the emerging metaverse and NFT space.

Supporting me, I have a team of three super talented legal experts who I am grateful to work with on a daily basis.

Outside of work, I like photography and sailing, and I am quite keen on criminal psychology.

Fazzaco: We've learned that you've been with an IT technology company for a few years prior to Paysafe. How is a legal job in the fintech industry different from that in other technology industries?

Popova: Before joining Paysafe, I spent nearly 5 years working for other IT companies which I very much enjoyed and which really prepped me for my role at Paysafe. For example, it was very helpful learning so much about technology and legal issues in intellectual property rights, cyber security, and networks. At Paysafe, I have been able to deepen this knowledge further and get exposure to the fintech world, which, to me, is a fascinating fast-paced combination of regulation, technology, and finance. Having the chance to see first-hand how tomorrow's technology develops, and being able to play part in it is a very rewarding experience that no so many companies can offer.

Fazzaco: What has made you move into this new industry back then?

Popova: Well, a combination of personal and professional factors. I had more or less exhausted my role in the previous company I worked at and had started looking around for something new and exciting. I also went through some turbulent personal times and needed that new beginning. I was extremely fortunate that there was a great job offering at Paysafe at the time and I didn't hesitate when I received a job offer. Paysafe had been on my radar for quite a while but it's rare for the right opportunity to come up within the legal team here (which speaks about the value of the team). In all honesty, I was a little terrified as I had no financial background and had to start building my legal 'fortress' from ground zero. Fortunately, I have great colleagues who were very welcoming and helped me get up to speed in no time.

Fazzaco: What's the biggest challenge you've faced in work? How did you cope with it?

Popova: Probably catching – up with all regtechs on top of the day job. We always say that legal lags behind technology and the current framework is incapable to efficiently meet business' needs. Yet, you can really get lost digging into the rabbit hole of all acts, guidelines and procedures. Paysafe is a company with global coverage, meaning you must be up to date with European legislation but also in other countries where we operate and that is a great daily challenge. However, I enjoy it a lot; it broadens your mind and makes you think outside many, many boxes  

Fazzaco: What competitive advantages do you think that women have over men in the capacity of a legal counsel in the fintech sector?

Popova: Gender diversity is important, and any organization can benefit greatly from it. I think women can sometimes have more of a nurturing side that can bring a lot of value on the management front. Approaching team members with care and thought for long – term development has shown me that a team can go to great lengths, together as one. Same refers to customers' retention practices.

I think women can act as better balancers in difficult situations.

Fazzaco: Tell us your secrets to balancing work and family life.

Popova: Asking the wrong person :D Joke aside, I've come to realize that exercise is incredibly important for not just looking after yourself physically, but also for managing your mental health and over the past year I've been trying to get myself to go to the gym and the pool more often.

The past two years also helped me re-evaluate my personal relationships and how they reflect on my work and vice versa. I've come to appreciate my friends and family more; this brings a lot of stability to one's life.

Fazzaco: As an outstanding female legal counsel, what do you want to say to other honourable women who are also fighting their way towards a brighter future?

Popova: To channel their emotional intelligence the right way. Often, I've been told that I've acted too emotionally (with the negative connotation that a man wouldn't act that way). To be honest – it's a growing pain but once you master it, the benefits are endless. It was a lesson I also learnt the hard way, but I am grateful for it. Gender equality means exactly that – not making excuses or expecting preferential treatment based on your biological marks/behavior and this should translate equally to men and women.

Also, to not take things too personally. There will always be that one person who thinks they know or can do better. Take it as some white noise and don't lose focus.