Nandan Sheth has spent 25 years in payments, building three growth companies along the way, including Harbor Payments (sold to American Express) and Acculynk (sold to First Data/Fiserv). He now runs Splitit, which takes a different path than most buy now, pay later providers: instead of originating a new loan, it turns the credit a consumer already has on their existing card into an installment plan, with no underwriting, no social security number, and no new debit card for repayments. With agentic commerce infrastructure being built in real time, Nandan argues that a frictionless installment option is exactly what merchants need to avoid being commoditized on price inside an LLM shopping platform.

What We Covered

• Three growth companies across 25 years in payments
• What attracted Nandan to Splitit from Fiserv
• Card-linked installments with no underwriting or new loan
• The card loyalist versus the credit needy
• $3.5 trillion of unused credit sitting on US cards
• Merchant-funded 0% economics and where the budget comes from
• A $1,300 average order value versus $250 to $300 for standard BNPL
• Point of sale through the Samsung Wallet integration
• Backing Google's Universal Commerce Protocol
• The overlooked small business to large supplier B2B use case
• Chargebacks, repudiation, and who carries the risk in agent-led purchases
• Splitit Go for the face-to-face services economy

Key Takeaways

• BNPL is really two markets, not one. Card loyalists want rewards, protections, and habit, while the credit needy want a new line of credit. Nandan thinks both get served, but by different products.
• The economics work because the merchant treats it as marketing spend. About 98% of Splitit's volume is a merchant-funded 0% plan, priced comparably to a percentage-off promotion, and it lifts average order value roughly four times over standard BNPL.
• In agentic commerce, price and delivery speed are the easiest things for an LLM to compare. A 0% installment option gives merchants a third lever that is not pure price competition.
• The B2B version may be the stronger use case. Small business owners face both a time problem and a working capital problem, which is a sharper reason to hand off buying to an agent than a consumer shopping for a polo shirt.

About Nandan Sheth

Nandan Sheth is the CEO of Splitit, the card-linked installments platform. He moved to the US from the UK 25 years ago and has spent his entire career in payments and fintech, including running e-commerce and omni-channel commerce at Fiserv. He previously built Harbor Payments, acquired by American Express, and Acculynk, acquired by First Data/Fiserv.

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Escheatment is a $70 billion problem hiding in plain sight: every state, territory, and dozens of countries have laws that hand dormant and unclaimed accounts over to the government after three to five years of inactivity. Allen Osgood, co-founder and CEO of Eisen, left a five-and-a-half-year run as a payments product manager at Coinbase to build the compliance infrastructure that helps banks, brokerages, and crypto platforms reunite customers with their money before the states ever claim it. In this conversation, Allen makes the case that crypto is about to collide with escheatment rules written in the 1960s, and that most institutions have no idea how large their own dormant balances really are.

What We Covered

• What escheatment actually is and how the state-by-state rules work
• The $70 billion states are holding for more than one in seven Americans
• Missingmoney.com and what happens after money is remitted
• Ohio's fight over using unclaimed property to fund a football stadium
• The Walter story: an E-Trade Amazon account liquidated to Delaware
• What counts as a "dormant" account and why logins matter
• Where Eisen plugs into the escheatment process
• Why reactivation beats remittance, and the Binance.US 48% case study
• Why institutions are blind to their largest dormant balances
• The 12-to-24-month gap where accounts just age untouched
• Displacing big-four spreadsheets with a single pane of glass, forecasting, and access controls
• Data volume as the hardest engineering problem, and where AI earns its keep
• The Claims Portal and QR-code reactivation
• Why crypto makes escheatment far more painful, from volatility to dust
• The coming wave of crypto liquidations and the tax problem
• Channel strategy with the cores like Fiserv, and the road to 1099 and tax reporting

Key Takeaways

• The best escheatment outcome is no escheatment at all. Eisen's real value is retention: keeping customers, deposits, and assets in the institution rather than shipping them to the state.
• Institutions routinely underestimate their exposure. One prospect thought it had 10,000 accounts about to escheat, the real number was 100,000. The disconnect sits between the compliance team and the data on the ground.
• Crypto changes the stakes. States generally require liquidation, so a dormant token gets sold, creating an unwanted taxable event and, if the market rips afterward, another Walter waiting to happen.
• Stale data is the enemy. The information that comes due for escheatment is by definition three to five years old, so address enrichment (LexisNexis, Socure, USPS NCOA) and early engagement are what actually move the reactivation numbers.

About Allen Osgood

Allen Osgood is the co-founder and CEO of Eisen, a compliance operations platform that automates escheatment and account offboarding for financial institutions. Before founding Eisen, he spent about five and a half years as a payments product manager at Coinbase, where he first ran into the strange world of unclaimed property and stayed through the company's IPO.

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Accounts payable has produced multiple billion-dollar companies, yet its mirror image, accounts receivable, remains almost entirely manual at most enterprises despite decades of software spend. In this episode, Caitlin Leksana, co-founder and CEO of Fazeshift, explains why AR has remained unsolved and how her company's AI agents are changing that. A mechanical engineer turned BCG consultant turned founder, Caitlin came to the problem the hard way, doing her own AR by hand at a previous startup, and her outsider's view of a stubborn back-office chore is exactly what makes the conversation worth your time.

What We Covered

• A million AR analysts doing manual work in the US
• Why accounts payable got solved and AR did not
• The leverage imbalance between AP and AR departments
• The swivel chair problem and fragmented data
• $200 million in unapplied cash on one balance sheet
• Fazeshift as a context layer, not a rip-and-replace
• Why traditional SaaS and if-then logic could never scale AR
• The collections, cash application, and AR inbox modules
• Human in the loop and building trust when AI touches money
• Training agents on historical data and tribal knowledge
• From Y Combinator to a Series A led by F-Prime
• The vision for the context layer and autonomous finance

Key Takeaways

• AR is the inverse of AP, and every bill is someone else's invoice, so the market is at least as large and mostly uncaptured.
• The real unlock is not the AI model but unifying fragmented data across the ERP, bank, CRM, and inbox into a single context layer.
• Human in the loop with full auditability is what earns risk-averse finance teams' trust, and it is how agents move toward full automation over time.
• Some of the best unsolved startup problems are the ones furthest removed from an engineer, because no one with the tools to fix them ever felt the pain.

About Caitlin Leksana

Caitlin Leksana is the co-founder and CEO of Fazeshift, a San Francisco startup building AI agents for accounts receivable. She earned bachelor's and master's degrees in mechanical engineering from Georgia Tech, advised Fortune 500 companies at BCG, and earned her MBA at Harvard Business School before founding a crypto marketing startup and then Fazeshift. The company went through Y Combinator's Summer 2024 batch, raised a $4M seed led by Gradient Ventures, and announced a Series A led by F-Prime in 2026.

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