Visa has announced the launch of the 2021 Visa Everywhere Initiative, a global innovation program for FinTech companies.
In a statement the company said: “Fintech companies from all over the world are invited to participate in the Visa Global Competition. With a total prize survey of $125,000 and an opportunity to draw the international professional community’s attention to their project.
Also, this year program participants are expected to develop new innovative solution to help broaden the capability of receiving payments and make the finance sector available to a broader range of customers.
In addition, there will be two phases in the competition: regional and global.
All applicants from Sub Saharan Africa (SSA) are invited to compete first on a CEMEA stage to win a combined $25,000 in total prize and then on a global stage for a combined $100,000 in total prize money and to tell their companies’ stories.
“Supporting companies across the globe who are building solutions that power seamless money movement everywhere is a top priority for Visa. We recognize fintechs as a force for innovation that is core to our business and encourage everyone to apply to Visa Everywhere Initiative.
“I am looking forward to seeing the many brilliant ideas from South Africa, Kenya, Nigeria, and across SSA this year,” Senior Vice President and Group Country Manager for Visa Sub Saharan Africa, Aida Diarra, said.
Participants are invited to submit applications in English to the CEMEA regional pitch before May 7, with the regional CEMEA finals scheduled for June 8 and global finals – for September 14, 2021.
Visa Everywhere 2021 Global Program participants will be able to present their solutions in four categories:
1. Development of digital services and issuers of digital services
2. Digital emission
3. Additional (value-added services) financial services for sellers and/or consumers
4. Restoration strategies for the SMB segment.
Since its launch in 2015, about 7000 start-ups have participated in the program.
To date, start-ups have raised more than US$2.5 billion in investments from the program.
To apply visit Visa Everywhere Initiative 2021 website.