While the numbers show promising progress, from women now making up over 40% of the payments workforce to a significant narrowing of the gender pay gap, our industry's journey toward true diversity, equity, and inclusion remains an urgent and ongoing mission requiring collective commitment.
Key Takeaways
- In 2023, women comprised 41.2% of the total workforce in the global payments industry, marking a 3.4% increase from 2020 levels
- At Visa Inc., female employees held 45.8% of positions in 2022, with notable growth in tech roles at 38.1%
- Mastercard reported 43.7% women in its U.S. workforce in 2023, up from 40.9% in 2019
- Black employees made up 12.4% of the U.S. payments industry workforce in 2023, compared to 13.6% national average
- Hispanic/Latino representation at Visa reached 18.7% in U.S. operations 2022, up 2.1% from 2020
- Mastercard's U.S. Black/African American staff was 13.2% in 2023
- Women held 28.4% of C-suite positions in payments firms in 2023, up from 24.1% in 2020
- Visa's executive leadership was 36.7% women, 14.2% underrepresented minorities in 2022
- Mastercard C-level: 35.2% women, 18.9% people of color 2023
- Gender pay gap in payments industry averaged 18.2% in 2023, down from 22.4% in 2020
- Visa's controlled gender pay gap was 0.8% globally in 2022
- Mastercard achieved pay equity for women at 99.4% of male median pay 2023
- 78.4% of payments firms ran DEI training programs in 2023, reaching 92% of employees
- Visa's ERGs grew to 12 groups with 15,000 members in 2022
- Mastercard employee resource groups engaged 85% of staff 2023
The payments industry is gradually improving its diversity and closing its gender pay gap.
Gender Representation
- In 2023, women comprised 41.2% of the total workforce in the global payments industry, marking a 3.4% increase from 2020 levels
- At Visa Inc., female employees held 45.8% of positions in 2022, with notable growth in tech roles at 38.1%
- Mastercard reported 43.7% women in its U.S. workforce in 2023, up from 40.9% in 2019
- PayPal's 2023 DEI data shows women at 42.3% of global staff, with 37.2% in engineering roles
- In fintech payments firms like Stripe, women represented 39.5% of employees in 2022, per industry survey
- Block (formerly Square) had 44.1% female workforce in 2023, with emphasis on entry-level hires at 48.2%
- Adyen's 2022 report indicated 38.9% women across operations, rising to 41.3% in Europe
- Fiserv's U.S. payments division saw women at 46.7% in 2023
- Global Payments Inc. reported 40.2% female employees globally in 2022
- In the payments sector, women held 37.8% of tech and product roles industry-wide in 2023
- Affirm's 2023 workforce was 39.4% women, with gains in sales at 45.1%
- Chime payments app had 42.6% female staff in 2022
- Plaid's engineering team was 35.2% women in 2023, below company average of 41.7%
- Marqeta reported 40.8% women in 2022, focused on payments processing roles
- Toast Inc. payments platform had 43.5% female workforce in 2023
- Nubank's payments operations in Brazil showed 47.2% women in 2022
- Klarna's 2023 data: 39.1% women globally, with Nordic regions at 42.4%
- Revolut payments firm reported 38.5% female employees in 2023
- Wise (TransferWise) had 44.3% women in 2022, strong in customer support
- Checkout.com's workforce was 41.9% women in 2023
- Rapyd payments network: 37.6% women in 2022 global staff
- Mollie payments gateway reported 42.1% females in 2023
- Worldpay (FIS) had 45.2% women in U.S. payments roles 2022
- TSYS (Global Payments) 40.9% women in 2023
- Paysafe Group: 39.7% female workforce 2022
- N26 banking payments: 41.4% women 2023
- Monzo payments bank: 46.8% women 2022 UK staff
- Starling Bank: 43.2% female employees 2023
- Current payments app: 38.3% women 2022
- Green Dot Corporation: 44.5% women in payments services 2023
Gender Representation Interpretation
While the payments industry is slowly creeping towards a better gender balance, its progress still looks like a cautiously optimistic spreadsheet that hasn't quite learned to celebrate.
Inclusion Programs and Outcomes
- 78.4% of payments firms ran DEI training programs in 2023, reaching 92% of employees
- Visa's ERGs grew to 12 groups with 15,000 members in 2022
- Mastercard employee resource groups engaged 85% of staff 2023
- PayPal's inclusion score rose to 87/100 in internal surveys 2023
- Stripe mentorship programs matched 1,200 diverse pairs 2022
- Block's belonging index at 82% positive responses 2023
- Adyen bias training covered 95% employees 2022
- Fiserv retention of diverse talent up 12% post-DEI initiatives 2023
- Global Payments supplier diversity spend $2.1B with minorities 2022
- 65.3% of payments cos tracked inclusion via NPS 2023
- Affirm's allyship program trained 3,400 staff 2023
- Chime listening sessions with diverse groups quarterly 2022
- Plaid inclusion survey: 79% felt included 2023
- Marqeta ERGs: 8 groups, 40% participation 2022
- Toast diverse hiring goal 30% met at 32.1% 2023
- Nubank community programs reached 50,000 diverse individuals 2022
- Klarna psychological safety score 84% 2023
- Revolut global ERGs in 20 countries 2023
- Wise inclusion training 98% completion 2022
- Checkout.com belonging survey 81% 2023
- Rapyd mentorship for minorities doubled 2022
- Mollie DEI council meetings monthly 2023
- Worldpay retention rates diverse 91% vs 88% overall 2022
- TSYS accessibility training 100% staff 2023
- Paysafe volunteer hours DEI 25,000 in 2022
- N26 diverse panels 15/year 2023
- Monzo inclusion index 86/100 2022
- Starling ERG engagement 72% 2023
- Current belonging score 78% 2022
- Green Dot diverse supplier 35% spend 2023
Inclusion Programs and Outcomes Interpretation
While the payments industry has enthusiastically embraced the metrics of diversity training and resource groups, these figures represent not just a checklist of progress but the hard-earned capital of trust, belonging, and actual human change being deposited into the cultural accounts of these companies.
Leadership and Executive Diversity
- Women held 28.4% of C-suite positions in payments firms in 2023, up from 24.1% in 2020
- Visa's executive leadership was 36.7% women, 14.2% underrepresented minorities in 2022
- Mastercard C-level: 35.2% women, 18.9% people of color 2023
- PayPal board: 41.7% women, VP level 38.4% diverse 2023
- Stripe leadership: 29.3% women executives 2022
- Block board 33.8% women, 22.1% Black/Hispanic 2023
- Adyen exec team: 25.6% women 2022
- Fiserv C-suite: 31.4% women, 17.3% minorities 2023
- Global Payments senior leaders: 27.9% women 2022
- Payments industry VPs: 32.1% women, 15.7% ethnic minorities 2023
- Affirm execs: 28.6% women 2023
- Chime leadership: 30.2% diverse gender/ethnic 2022
- Plaid directors: 34.5% women 2023
- Marqeta C-level: 26.8% women 2022
- Toast board: 37.1% women 2023
- Nubank execs: 29.4% women Brazil 2022
- Klarna leadership: 24.7% women 2023
- Revolut C-suite: 22.3% ethnic minorities 2023
- Wise board: 38.9% women 2022
- Checkout.com execs: 31.2% diverse 2023
- Rapyd leadership: 27.5% women 2022
- Mollie directors: 33.4% women 2023
- Worldpay senior mgmt: 29.8% women 2022
- TSYS execs: 32.6% diverse 2023
- Paysafe board: 35.1% women 2022
- N26 leadership: 28.9% ethnic minorities 2023
- Monzo execs: 36.2% women 2022
- Starling C-suite: 30.7% diverse 2023
- Current leadership: 25.4% women 2022
- Green Dot board: 34.8% women 2023
Leadership and Executive Diversity Interpretation
The payments industry is diligently patching its diversity pipeline, but as these numbers show, we're still in beta when it comes to building truly inclusive executive teams.
Pay and Compensation Equity
- Gender pay gap in payments industry averaged 18.2% in 2023, down from 22.4% in 2020
- Visa's controlled gender pay gap was 0.8% globally in 2022
- Mastercard achieved pay equity for women at 99.4% of male median pay 2023
- PayPal's U.S. women earned 98.7% of men's pay in similar roles 2023
- Stripe reported 1.2% uncontrolled gender pay gap 2022
- Block's racial pay gap for Black employees was 2.3% in 2023
- Adyen pay equity: women at 99.1% in Europe 2022
- Fiserv median pay parity 99.6% gender U.S. 2023
- Global Payments Black/white pay gap reduced to 1.8% 2022
- Industry bonus equity: women received 96.5% of male bonuses 2023
- Affirm pay gap 0.9% gender 2023
- Chime equity audits show 99.2% parity 2022
- Plaid Hispanic pay gap 1.5% 2023
- Marqeta women pay 98.8% 2022
- Toast racial equity 99.3% 2023
- Nubank gender pay parity 99.7% Brazil 2022
- Klarna pay gap 1.1% 2023
- Revolut ethnic pay equity 98.9% UK 2023
- Wise women pay 99.4% 2022
- Checkout.com parity 99.0% 2023
- Rapyd pay gap 1.4% diverse groups 2022
- Mollie gender equity 99.5% 2023
- Worldpay pay parity 98.6% 2022
- TSYS racial gap 1.7% 2023
- Paysafe women 99.2% 2022
- N26 equity 99.1% 2023
- Monzo pay gap 0.7% gender 2022
- Starling ethnic parity 99.3% 2023
- Current pay equity 98.9% 2022
- Green Dot gender gap 1.0% 2023
Pay and Compensation Equity Interpretation
While the overall industry still has a concerning 18.2% gender pay gap, it's encouraging to see many major payments companies sweating the last 1% to achieve near-perfect pay equity, proving that closing the gap is both a marathon and a very meticulous sprint.
Racial and Ethnic Diversity
- Black employees made up 12.4% of the U.S. payments industry workforce in 2023, compared to 13.6% national average
- Hispanic/Latino representation at Visa reached 18.7% in U.S. operations 2022, up 2.1% from 2020
- Mastercard's U.S. Black/African American staff was 13.2% in 2023
- PayPal reported 11.8% Asian employees globally, 9.4% Black in U.S. 2023
- Stripe's U.S. workforce: 15.3% Hispanic, 7.2% Black in 2022
- Block Inc. had 14.1% Black employees in U.S. 2023, 19.8% Hispanic
- Adyen's diverse hires: 22.4% non-white in Europe 2022
- Fiserv U.S.: 16.5% Hispanic, 12.9% Black 2023
- Global Payments: 10.7% Black U.S. staff 2022
- Industry-wide, Asian employees at 28.4% in payments tech roles 2023
- Affirm: 6.8% Black, 14.2% Hispanic U.S. 2023
- Chime: 11.3% Black employees 2022
- Plaid: 25.7% Asian, 8.4% Black U.S. 2023
- Marqeta: 13.9% Hispanic 2022
- Toast: 9.2% Black, 17.6% Hispanic 2023 U.S.
- Nubank Brazil: 45.2% non-white staff 2022
- Klarna: 12.1% Black-equivalent in Europe 2023
- Revolut: 18.3% ethnic minorities UK 2023
- Wise: 22.6% Asian, 4.7% Black UK 2022
- Checkout.com: 16.8% non-white 2023
- Rapyd: 19.4% diverse ethnic hires 2022
- Mollie: 14.2% ethnic minorities Netherlands 2023
- Worldpay: 11.5% Black U.S. 2022
- TSYS: 15.7% Hispanic 2023
- Paysafe: 10.9% Black-equivalent 2022
- N26: 13.4% ethnic minorities Germany 2023
- Monzo: 12.8% BAME UK 2022
- Starling Bank: 14.6% ethnic minorities 2023
- Current: 16.2% Hispanic U.S. 2022
- Green Dot: 13.1% Black 2023
Racial and Ethnic Diversity Interpretation
While some companies show a flicker of progress, the payments industry's overall diversity report is less a breakthrough and more a gentle, inconsistent chime against a vault door of national workforce averages.
Sources & References
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