In an industry as crowded as financial technology, it helps to have the name Fintech. It helps even more to have Tad Phelps running the company.
Since taking over as Chief Executive Officer in 2017, Phelps has made a point of staying hands-on with the company’s growth, its products, and, above all, its people. “Our products, along with our people, are our lifeblood and I like to stay closely involved with both,” he said in a recent interview.
It’s an approach that’s served the Tampa-based company well. Fintech, founded in 1991, has built a reputation as a business solutions provider for some of the nation’s biggest retailers, including CVS, Dollar General, and Food Lion. Originally focused on automating invoice payments in the highly regulated alcohol industry, the company has expanded far beyond those roots under Phelps’ leadership. Today, its PaymentSource platform supports over 260,000 retail and hospitality businesses and more than 7,500 alcohol distributors across the U.S.
M&A is where Phelps leans in the most. “Each deal, win or lose, is its own project that has its own nuances and challenges,” he said. “I really like meeting other CEOs and founders and hearing their story and helping them find a home for their company and people.”
He brings that same sense of care to his own team inside Fintech. Phelps describes it as a “team-driven approach,” one built on loyalty and trust. “I would rather really know and enjoy those who are around me every day and give them every opportunity to succeed,” he said. “I have been paid back a thousand fold by those people that I have been loyal to over the years.”
Fintech’s growth has been fueled by strategic acquisitions—six in recent years—and by partnerships with private equity firms TA Associates and General Atlantic. With those resources behind it and a team-driven approach at its core, Phelps believes Fintech is well-positioned for what’s next. “The retail industry continues to quickly evolve,” he said. “And my role is to identify how we can evolve alongside our customers to best serve them.”
