Ruchi Rathor on Innovation, Empowerment, and Leading the Charge for Women in Tech
Technology moves fast and breaking into the male-dominated tech industry is no small feat. Ruchi Rathor stands as a powerful force of innovation and empowerment. As the founder of Payomatix, a groundbreaking payment platform, and the Empowered Women Foundation, Ruchi has not only redefined the fintech space but also created opportunities for women to thrive through education and entrepreneurship.
In our exclusive interview, she shares her inspiring journey, how she built a global fintech company from the ground up, and why she’s dedicated to helping women in an ever-evolving world.
You’ve made significant strides in the fintech industry with Payomatix. What inspired you to create a payment platform, and how does Payomatix differentiate itself from other solutions on the market?
The idea for Payomatix came to me from a mix of personal experience and professional observation. Having spent a considerable amount of time in the tech and finance sectors, I noticed a persistent gap in the market—a lack of a unified, simple, and secure payment solution that caters to the diverse needs of businesses, both big and small. I wanted to create something that addressed these pain points, particularly for small and medium-sized enterprises that often get overlooked by larger payment providers. These businesses needed a platform that could seamlessly integrate with their existing systems, reduce costs, and offer a high level of customization.
Payomatix differentiates itself by focusing on three core pillars: simplicity, security, and scalability. Our platform is designed to be user-friendly, with an intuitive interface that requires minimal technical know-how, making it accessible to all types of businesses. We also prioritize security by employing state-of-the-art encryption and fraud detection technologies, ensuring that every transaction is safe and secure.
Finally, our scalability sets us apart; as businesses grow, Payomatix grows with them, offering a suite of tools that can be customized to meet their changing needs. We have created an ecosystem that supports diverse payment methods and channels, providing merchants with flexibility and customers with convenience. This approach has helped us carve out a niche in a highly competitive market.
What were some of the biggest challenges you faced as a woman entering the male-dominated tech industry, and how did you overcome them while building Payomatix?
Entering the male-dominated tech industry as a woman certainly came with its fair share of challenges. One of the most significant obstacles was navigating the biases that still exist, consciously or unconsciously. From the outset, I faced skepticism and often found myself being the only woman in the room, whether in meetings, networking events, or negotiations. I felt the pressure to constantly prove myself and my expertise, which can be both exhausting and discouraging. Another challenge was finding mentors or role models within the industry who could guide me and share insights based on similar experiences.
However, these challenges also motivated me to push harder. I overcame them by focusing on building a strong network of allies and supporters—both men and women—who believed in my vision for Payomatix. I also made a conscious effort to educate myself continually, staying updated on industry trends, and acquiring new skills to build my credibility and confidence.
Additionally, I worked on cultivating resilience; setbacks became stepping stones, and every “no” was a step closer to a “yes.” I was fortunate to have a few mentors who guided me, but I also learned the importance of self-advocacy. Through determination, adaptability, and an unwavering commitment to my goals, I managed to carve out a space for myself and Payomatix in the tech landscape.
Technology is rapidly evolving—how do you ensure that Payomatix stays ahead of the curve and continues to innovate?
Staying ahead of the curve in such a fast-paced industry requires a proactive and strategic approach. At Payomatix, we prioritize a culture of innovation, where every team member is encouraged to think creatively and challenge the status quo. We actively invest in research and development to explore new technologies, trends, and customer preferences. Regular brainstorming sessions, hackathons, and workshops help us foster an environment where ideas can flow freely, and where our team feels empowered to experiment and take calculated risks.
We also stay closely connected to our customers and partners, constantly seeking feedback to understand their evolving needs. This customer-centric approach ensures that we are not just reacting to changes in the market, but anticipating them. Leveraging data analytics and artificial intelligence allows us to predict trends and adapt our strategies accordingly. Furthermore, we collaborate with fintech innovators and participate in industry events, staying connected to the latest advancements. By maintaining this balance between innovation and customer focus, we can keep Payomatix at the forefront of the industry.
You founded the Empowered Women Foundation to support women’s education and entrepreneurship. Can you share the origin story behind the foundation and what motivated you to focus on this cause?
The inspiration behind the Empowered Women Foundation came from my own journey and the realization of how crucial support, education, and mentorship are for women. Growing up in Agra, India, I witnessed first-hand the societal barriers that women often face—limited access to education, resources, and opportunities. I have always believed that education is the most powerful tool for change, and I wanted to create an initiative that would help bridge the gap for women who are often left behind.
When I entered the tech and business worlds, I realized how underrepresented women were, not just in leadership roles but at all levels. I was motivated to change this narrative. The foundation was born out of a desire to provide women with the skills, knowledge, and confidence they need to take control of their careers and futures. I wanted to create a platform that not only provided resources but also built a community where women could support and uplift each other. The goal was simple: to empower women to pursue their dreams, whether in education, entrepreneurship, or any other field of their choice.
What are some of the most impactful programs offered by the Empowered Women Foundation, and how do they help underserved women take control of their careers and futures?
The Empowered Women Foundation offers several impactful programs designed to equip underserved women with the tools they need to thrive. One of our flagship initiatives is the “Skill Up” program, which provides vocational training and digital literacy courses. This program is particularly focused on women from low-income backgrounds who may not have had access to formal education or professional training. By equipping them with practical skills, we help them find employment opportunities or start their own small businesses.
Another key program is “Mentorship Circles,” where we connect aspiring female entrepreneurs with experienced business leaders and professionals. This initiative provides valuable guidance, networking opportunities, and a support system to help these women navigate the challenges of starting and scaling their businesses. Additionally, our “Women in Tech” program offers coding boot camps, workshops, and scholarships to encourage more women to enter the technology sector, addressing the gender gap in STEM fields.
Each of these programs is designed to create a ripple effect, empowering women to become leaders and change-makers in their communities. By providing access to education, mentorship, and financial resources, we enable them to take control of their careers and futures, ultimately leading to more inclusive and diverse economies.
As someone who’s successfully built a tech business, what specific challenges do you see for women entering the fintech and tech spaces today, and how does your foundation help address these barriers?
Women entering the fintech and tech spaces today still face several persistent challenges. One of the most significant barriers is the lack of representation and role models, which can make it difficult for women to visualize themselves in leadership roles within these fields. Additionally, there is often an unconscious bias in hiring practices and workplace cultures that can result in women being overlooked for certain roles or not being taken as seriously as their male counterparts. This lack of inclusivity can create environments where women do not feel empowered to speak up, innovate, or take risks.
Access to education and resources is another hurdle. Women may lack the technical training or financial support needed to enter or thrive in these sectors. This is where the Empowered Women Foundation steps in. Through our various programs, we aim to break down these barriers by providing education, mentorship, and networking opportunities tailored specifically for women. Our “Women in Tech” program, for example, offers scholarships, coding boot camps, and workshops designed to upskill women and prepare them for tech careers.
The “Mentorship Circles” connect aspiring female entrepreneurs with seasoned professionals who provide guidance, support, and encouragement. We also focus on creating a community where women can share their experiences and learn from each other, helping them build the confidence and networks needed to succeed in these challenging environments.
With both Payomatix and the Empowered Women Foundation, you wear multiple hats. How do you manage your time between running a global fintech company and leading a nonprofit organization?
Balancing the responsibilities of running a global fintech company like Payomatix while also leading the Empowered Women Foundation certainly requires a lot of discipline, planning, and a bit of creativity. Time management is crucial, and I’ve learned to prioritize tasks based on urgency and impact. I start my day with a clear plan, focusing on the most critical objectives for both organizations. I delegate effectively and have built a strong team around me that I trust to execute and lead in their respective areas.
This delegation not only empowers my team members but also frees up my time to focus on strategic decision-making and vision-setting.I also make it a point to integrate my roles where possible. For instance, I often find synergies between Payomatix and the foundation, such as creating partnerships that benefit both.
Additionally, I’m a big advocate of self-care; taking time for myself ensures I stay focused, energized, and passionate about my work. Ultimately, I’ve realized that it’s not about balancing time perfectly but about aligning my actions with my values and vision, allowing me to remain effective and motivated across all my roles.
What advice would you give to young women interested in entering either the tech industry or starting their own business, especially in sectors where women are underrepresented?
My advice to young women aspiring to enter the tech industry or start their own business is simple but powerful: believe in yourself and your vision. The journey can be challenging, especially in sectors where women are underrepresented, but it’s essential to trust in your capabilities and stay focused on your goals. Don’t let the lack of representation deter you; instead, see it as an opportunity to break barriers and set new precedents.
Educate yourself continuously and be open to learning from others. Seek mentors and allies who can guide you, offer advice, and open doors for you. Remember that networking is key—build connections with people who inspire you, challenge you, and believe in your potential.
Also, don’t be afraid to take risks and make mistakes; they are integral parts of growth and success. Most importantly, stay resilient. There will be setbacks, but persistence and a positive mindset will see you through. And finally, be ready to support and uplift other women along the way; together, we can create a more inclusive and diverse landscape.
What’s next for Payomatix? Are there any upcoming features, projects, or expansions that we can expect to see in the near future?
Payomatix is on an exciting growth trajectory, and we have several innovative projects and features in the pipeline. One of our primary focuses for the near future is to enhance our platform’s AI and machine learning capabilities to provide even more personalized and predictive payment solutions. This involves developing smarter fraud detection algorithms and optimizing transaction processes to further increase security and efficiency for our clients.
We are also exploring expansion into new markets, particularly in regions where digital payment solutions are still emerging but have tremendous potential. By partnering with local businesses and financial institutions, we aim to create tailored solutions that meet specific regional needs. Another significant project is our push towards integrating cryptocurrency payment options, responding to the growing demand for decentralized finance. This step will further position Payomatix at the forefront of innovation in the fintech industry.
Furthermore, we are working on creating a more comprehensive analytics dashboard for our users, allowing them to gain deeper insights into their transaction data, customer behavior, and overall business performance. This will help businesses make more informed decisions and optimize their operations. Our focus remains on staying ahead of the curve by continually evolving and innovating to serve our customers better.
How do you envision the Empowered Women Foundation growing in the next few years? Are there any new initiatives or partnerships on the horizon?
The Empowered Women Foundation has ambitious plans for growth in the coming years. We aim to expand our reach, both geographically and in terms of the scope of our programs. We’re currently exploring partnerships with international organizations to bring our initiatives to more communities around the world. One of the new initiatives we are planning to launch is the “Digital Entrepreneurship Program,” which will focus on equipping women with the digital skills they need to start and run successful online businesses. This program will include training in digital marketing, e-commerce, and content creation, which are essential skills in today’s digital economy.
We are also looking at establishing more strategic partnerships with tech companies, educational institutions, and other nonprofits to create a more robust support system for women in tech and entrepreneurship. Another area of focus will be expanding our “Women in Tech” program, particularly by increasing the number of scholarships and introducing new courses that cover emerging technologies like blockchain, artificial intelligence, and cybersecurity.
In addition, we plan to increase our advocacy efforts, using our platform to influence policy changes that support women’s rights, education, and economic opportunities. By growing our programs and forming meaningful partnerships, we hope to empower even more women to become leaders in their fields and communities, driving positive change and fostering an inclusive future.
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