Embedded Finance Review Podcast, episode 24. Published 1 May 2025. Guest: Arda Cagaptay, merchant wallet specialist. Host: Lars Markull.
Lars Markull: Starbucks is often described as a bank with a coffee business, because consumers store more than $1.7 billion in their Starbucks wallet, which they can redeem for coffee at a later point in time. But how does a wallet actually work, and why is a Starbucks wallet more of a wallet 1.0, whereas other merchants go for a wallet 2.0?
In this episode I speak with Arda Cagaptay about wallets, and why merchants are currently adopting wallet solutions. Arda has spent more than 15 years in fintech, and until earlier this year Arda was responsible for the wallet initiatives at food delivery platform Delivery Hero. He left Delivery Hero to start his own business, where he enables merchants to offer wallet products.
My name is Lars Markull, and this is the Embedded Finance Review Podcast. Every two weeks I'm interviewing the builders and shapers of embedded finance. And now let's dive in.
Welcome
Lars Markull: Hey Arda, welcome to the podcast. How are you doing today, and in what part of the world are you located right now?
Arda: All good, thank you for the invitation, first of all, Lars. And I'm now located in sunny Berlin.