Beyond the Product: How Product Development Drives Fintech Growth

Beyond the Product: How Product Development Drives Fintech Growth

October 2026/EliteXPress/ – In fintech, launching a new product is only part of the story. Behind every payment solution are business decisions, technical challenges, regulatory requirements, and, most importantly, people working together to make it happen.

As the payments industry continues to evolve, Product Development is becoming increasingly important in connecting business strategy with practical solutions. It is no longer simply about managing projects and delivering new features. It is about understanding market needs, identifying opportunities, and ensuring that new products create real value for customers.

To explore how this works in practice, we spoke with Ineta Kauliņa, Head of Product Development at WALLETTO, who shared her perspective on product innovation, working with Visa and Mastercard, managing priorities, and the importance of strong teams.

Product Development: Connecting Business Ideas With Reality

A successful product starts with understanding what customers need and how a company can respond to those needs.

In the fintech industry, however, turning an idea into a working solution involves much more than technology. Product teams must consider business opportunities, technical capabilities, payment scheme requirements, compliance, and operational processes.

For WALLETTO, Product Development connects these different areas and helps turn business plans into products and services.

“A good idea is only the beginning. The real challenge is bringing the right people together, understanding what needs to be done, and turning that idea into something that actually works for our customers.”

Having previously led WALLETTO’s Card Issuing Division, Ineta brings practical experience of the payments industry to her current role. This background helps her understand both the commercial opportunities and the operational challenges involved in developing financial products.

For her, Product Development is not only about delivering projects but also about helping the company move forward and creating opportunities for future growth.

Visa and Mastercard: More Than Just Requirements

As a principal member of both Visa and Mastercard, operating in issuing and acquiring, WALLETTO works in an environment where payment scheme rules, technical standards, and security requirements are constantly evolving.

Implementing these requirements, commonly known as mandates, is an important part of Product Development’s responsibilities. However, a mandate is rarely just a technical update. It can affect several systems, departments, processes, and sometimes even the services offered to customers.

“One of the challenges is understanding how a particular requirement affects the whole business. It is not enough to simply implement a technical change. We need to make sure that everyone involved understands what needs to be done and why.”

This requires close cooperation between Product Development, IT, Compliance, Operations, and external partners.

Ineta also believes that scheme requirements should not always be viewed purely as obligations. Sometimes, implementing a mandate creates an opportunity to improve existing processes, modernise systems, or introduce capabilities that support future product development.

Managing Priorities in a Fast-Moving Industry

One of the biggest challenges in Product Development is balancing business ambitions with available resources and realistic delivery timelines.

In fintech, priorities can change quickly. New regulatory or payment scheme requirements appear, customers request additional functionality, and technical dependencies can affect ongoing projects. With several initiatives progressing simultaneously, deciding what should come first becomes essential.

“In our industry, almost everything can seem urgent. But we cannot do everything at once. We need clear priorities, realistic expectations, and good communication between everyone involved.”

For Ineta, successful project delivery depends not only on planning but also on timely decisions, transparency, and cooperation across departments. Problems and unexpected challenges are part of product development. What matters is how teams respond to them.

“I appreciate when people come not only with a problem, but also with ideas on how we could solve it. We may not always have the answer immediately, but we can find it together.”

This approach helps teams remain focused on solutions rather than obstacles.

Developing the Next Generation of Payment Solutions

In today’s rapidly evolving payments industry, offering Visa and Mastercard payments alone is no longer enough. Businesses increasingly expect to access a wide range of payment methods through a single provider, allowing them to meet different customer preferences, simplify payment management, and expand into new markets.

At WALLETTO, we recognise this demand and continuously work to broaden our payment portfolio. Alongside traditional Visa and Mastercard card payments, we support Apple Pay and Google Pay, as well as MB WAY powered by SIBS, a popular local payment solution in Portugal. We continue to explore and develop additional payment options to meet the evolving needs of businesses operating across different markets.

Beyond expanding our range of payment methods, we are also actively investing in the development of our internet banking platform and mobile application. Our focus is on delivering intuitive, user-friendly functionality, simplifying everyday financial operations, and providing customers with a seamless and convenient payment experience. We continuously improve our digital platforms to make managing accounts, payments, and financial activities easier, faster, and more efficient.

We also closely monitor market developments, emerging technologies, and changing customer expectations. Rather than simply responding to existing demand, we aim to anticipate future needs and stay one step ahead by identifying new opportunities and developing solutions before they become a market standard.

“What I enjoy most about these projects is seeing how something that initially looks complicated gradually becomes a working solution. There are always challenges along the way, but when different teams work towards the same goal, we can achieve a lot.”

For Ineta, Product Development is not simply about introducing new features or technologies. It is about understanding customer expectations, improving the overall user experience, and creating solutions that deliver real business value.

Our goal is to make WALLETTO a comprehensive financial services partner, offering businesses a broad range of payment solutions and convenient digital tools through a single provider.

Strong Products Start With Strong Teams

While technology and innovation are central to fintech, Ineta believes that people are equally important to successful Product Development.

Having moved from leading Card Issuing to heading Product Development, she places particular emphasis on building a team where people understand the bigger picture, take ownership of their responsibilities, and feel comfortable sharing ideas.

“I genuinely enjoy working with people, seeing their strengths, and helping them grow. For me, a strong team is not just about having good specialists. It is about people who trust each other, share knowledge, and work towards a common goal.”

She also believes that a positive working atmosphere matters, especially in an environment with demanding deadlines and complex projects. Open communication, mutual respect, and a willingness to support colleagues can make a significant difference when challenges arise.

Looking Ahead: Turning Opportunities Into Results

As the payments industry continues to develop, customer expectations around speed, convenience, and payment choice will continue to shape new products and services.

For WALLETTO, Product Development will remain an important part of responding to these expectations while ensuring that new solutions are reliable, compliant, and aligned with business priorities.

For Ineta, the goal is clear: build a strong team, maintain focus on the right priorities, and turn promising ideas into practical results.

“At the end of the day, what matters is that we deliver something valuable for our customers and the company – and that we can be proud of what we have achieved together.”

About EliteX
EliteX is a global business media and recognition platform dedicated to spotlighting influential leaders, innovators, and changemakers across industries. Through curated editorial editions and feature stories, EliteX celebrates excellence, leadership, and impact that inspire audiences worldwide.

Media Contact:
Press Office
info@theelitex.com
www.theelitex.com