702 interview – Steven Kark, the co-founder and Group CEO of Paycorp702 interview

Steven Kark, co-founder and CEO of the Paycorp Group, recently spoke to Bruce Whitfield on The Money Show's Shapeshifter segment.

Steven Kark, co-founder and CEO of the Paycorp Group, recently appeared on The Money Show's Shapeshifter segment

Hosted by the esteemed business journalist Bruce Whitfield on Radio 702 and Radio Cape Talk, Shapeshifter delves into the lives of influential individuals who have navigated significant shifts in their careers or industries.

During the interview, Kark provided a comprehensive overview of his journey in the payment industry, tracing Paycorp’s origins back to its founding at the turn of the millennium. Initially focusing on deploying ATMs in non-traditional locations, Paycorp addressed a gap in the market left by major banks. Over time, the company diversified its operations into digital and card payments, and recently venturing into cryptocurrencies with an innovative app facilitating crypto withdrawals at its ATM network.

Kark also discussed Paycorp’s strategic expansions into international markets such as Eastern Europe and the UK, highlighting the company’s global growth trajectory. Additionally, he shared insights into navigating the challenges and seizing the opportunities presented by the COVID-19 pandemic, as well as reflections on the strategic sale of various Paycorp businesses.

Throughout the conversation, Kark reflected on the lessons learned from private equity involvement, emphasising the importance of patient capital and exploring the nuances of private versus public ownership. His insights shed light on Paycorp’s resilience and adaptability in an ever-evolving industry landscape.

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