Senior Product Manager - Billing

Xplor

About The Position

As Senior Product Manager— Billing, you will own how money moves between Xplor, our merchants, and our partners. This includes how merchants get paid, how they are billed for processing, and how royalties and rebates are calculated and disbursed. Getting this right is crucial for building trust with over 130,000 businesses. This role focuses on the money-out and money-owed aspects of Embedded Payments, specifically merchant settlement and payouts, the fee and billing platform, and the royalty and rebate layer. Your responsibility spans from transaction processing completion to ensuring correct fund distribution. As a Lead PM, you will set product direction, define integration contracts for local market teams and finance systems, mentor other PMs, and collaborate with engineering on architecture. You will own and evolve the strategy and roadmap for merchant funding, billing, and royalty management globally, defining the vision for consolidating regional logic onto a shared platform. You will also contribute to the overall Embedded Payments global product strategy, maintain a focused roadmap, prioritize money-critical work, and present investment cases to leadership. Key areas of ownership include merchant funding models (gross and net settlement), payout schedules, multi-currency and cross-border payouts, multi-party splits, disbursement to multiple beneficiaries, holds, reserves, and negative balance recovery. You will also contribute to the balance ledger for accuracy, auditability, and reconciliation against settlement files. Furthermore, you will own the fee and pricing platform (interchange-plus, blended, tiered models), defining how fees are assessed, calculated, and applied, including tax treatment, credits, adjustments, and back-billing. Owning merchant statements and invoices to ensure easy reconciliation, and defining collection methods (net-of-settlement deduction, direct debit, card) and recovery processes for merchants in debit are also key responsibilities. You will also manage partner and franchisor economics, including revenue share, residuals, royalties, and rebates, making the calculation logic configurable. This includes owning accrual, disbursement, and partner-facing statements, and partnering with commercial and finance teams on deal structures. A significant part of the role involves defining the integration contract and APIs for various systems, coordinating with local product and engineering teams on adoption and migration, and designing for multi-tenancy, multi-entity, and per-market configuration. You will also embed AI tools across the product lifecycle for tasks like synthesizing interviews, drafting PRDs, prototyping calculations, and monitoring dashboards, while championing AI adoption within the team. Finally, you will engage deeply with engineering on technical decisions, drive agile delivery, mentor product managers, and serve as the internal center of excellence for merchant money movement.

Requirements

4+ years of product management experience, with at least 3 years owning settlement, payouts, billing, ledger, or revenue-share products.
Deep understanding of merchant funding and settlement: funding models, payout timing and value dating, reserves, negative balances, and multi-currency payout.
Strong grasp of fee and billing mechanics: pricing model configuration, fee calculation, invoicing and statements, collection methods, and tax treatment.
Working knowledge of ledger design and reconciliation — double-entry thinking, balance integrity, and matching against scheme, acquirer, and bank files.
Experience with partner economics: revenue share, residuals, rebates, or royalty calculation and disbursement.
Experience building or owning a platform that other teams integrate with — defining APIs, contracts, and versioning, not just end-user features.
Track record of shipping money-critical products at scale where correctness, idempotency, and auditability are non-negotiable.
Comfortable with finance, treasury, and risk as primary stakeholders, not just engineering.
Demonstrated technical depth — able to engage engineers on ledger architecture, data models, and integration design.
Experience mentoring product managers or operating as a product lead across multiple squads.
Excellent written and verbal communication — able to write crisp PRDs, present to executives, and align distributed teams around a shared platform.
Hands-on proficiency with AI productivity tools (Claude, ChatGPT, Cursor, or equivalent), with real examples of using AI to lift PM output and quality.
Comfortable operating from India across global time zones (APAC, UK, and US).

Nice To Haves

Experience consolidating multiple regional settlement or billing systems onto a single platform.
Multi-currency, multi-entity settlement and cross-border payout.
Exposure to safeguarding, reserves, and settlement risk.
Franchise models where third parties take a share of merchant revenue.
Background in embedded payments, payfac, or platform models.
Exposure to month-end close, revenue recognition, or external audit requirements.
Experience working across federated teams where a central platform serves local market products.

Responsibilities

Own and evolve the strategy and roadmap for merchant funding, billing, and royalty management across all markets.
Define the multi-year vision for consolidating regional settlement, fee, and rebate logic onto a shared global platform.
Contribute to the Embedded Payments global product strategy as a senior product leader.
Maintain a focused roadmap, sequence money-critical work against risk and migration realities, and present investment cases to leadership.
Own merchant funding models — gross and net settlement — along with the payout schedules, cut-off times, and value dating.
Define multi-currency and cross-border payout, multi-party splits, and disbursement to several beneficiaries from a single transaction flow.
Own holds, reserves, rolling reserves, and negative balance recovery, working with risk and finance on settlement exposure.
Contribute to the balance ledger that keeps merchant positions correct, auditable, and reconcilable.
Support reconciliation against scheme, acquirer, and bank settlement files, including how breaks and exceptions are surfaced, aged, and cleared.
Own the fee and pricing platform: interchange-plus, blended, and tiered models, monthly minimums, service charges, and per-event fees.
Define how fees are assessed, calculated, and applied — including tax treatment across markets, credits, adjustments, and back-billing.
Own merchant statements and invoices, so a merchant can reconcile what we charged them without calling support.
Define collection: net-of-settlement deduction versus direct debit or card, plus recovery when a merchant sits in debit.
Cut fee leakage. Every chargeable event gets billed once, correctly, at the contracted rate.
Own how partner, and franchisor economics are calculated and paid — revenue share, residuals, royalties, and rebates.
Define tier, threshold, and volume-band logic, and make it configurable so a new deal does not need a code change.
Own accrual, disbursement, and partner-facing statements that stand up to scrutiny.
Partner with commercial and finance on deal structures the platform can support.
Define the integration contract and APIs that Voyager, Ezypay, Odin, and our finance systems plug into for funding, billing, and rebate data.
Coordinate with local product and engineering teams on adoption and migration, recognising that local teams own their own stacks and timelines.
Design for multi-tenancy, multi-entity, and per-market configuration, so one platform serves many markets without forking.
Treat idempotency, correctness, and auditability as first-class requirements from the start.
Embed AI tools across the product lifecycle: use LLMs to synthesise finance, treasury, and partner interviews, run competitor teardowns, and draft PRDs; use AI coding assistants to prototype fee calculations, model payout scenarios, and validate statement output against expected results.
Champion AI adoption across the Embedded Payments product team — document effective prompting patterns, share workflows, and upskill PMs.
Use AI-powered analytics to monitor settlement and billing dashboards, surface anomalies such as fee variance or a spike in reconciliation breaks, and write plain-language summaries for stakeholders.
Stay current with AI tooling relevant to product management, and operate at a higher output cadence than a traditional PM.
Engage engineering deeply on ledger design, data models, and the API contract, bringing product judgement to money-critical technical decisions.
Drive agile delivery across one or more squads with clear PRDs, user stories, and acceptance criteria that account for failure modes and edge cases.
Mentor product managers, raise the quality bar for discovery and specification, and model strong product practice.
Serve as the internal centre of excellence on merchant money movement — educating local teams, commercial, risk, finance, and treasury.