Visa is seeking to fintechs to speed up; know particulars and take part

Startups with solutions linked to financial services can apply from today to the payments company’s open innovation program

Small financial services and payments companies, the so-called fintechscan apply starting this Wednesday (24) in the payments giant’s open innovation program Visa.

The program, called Visa for Startupsseeks startups with innovative proposals within themes defined by Visa and that can develop solutions in partnership with the company.

In total, six will be selected. startups who, with Visa’s help, will develop their proofs of concept (POCs), the name given to the first steps in the process of validating a business idea. The development of the program’s methodology will be in charge of the corporate innovation company The Bakery.

For this edition, startup solutions should be in the areas of:

• New payment flows;
• crypto assets;
• Open Finance & Data Solutions;
• Acquiring and Accepting and Business Solutions

What is the program?

Visa created the program with the aim of connecting with startups to generate business and be closer to the innovation and payments ecosystem, fostering the creation of new businesses and solutions that still do not exist in the sector, says Cristiane Taneze, Executive Director of Innovation at Visa . “Like the network of networks, Visa for Startups will co-create new open innovation solutions to explore new possibilities and opportunities not yet addressed by our industry,” she says.

“Large companies have already understood the importance of open innovation to ensure their longevity in the market, investing in the search for solutions beyond their internal limits. We help to facilitate and structure a win-win relationship with the startup universe, which is essential for this interaction to be successful”, says Felipe Novaes, co-founder and partner of The Bakery.

how to sign up

Companies from all over Latin America that already have revenue, a customer base and wish to expand operations can participate. The application period starts this Wednesday, 24, and runs until September 23, on the program’s website.

after the registration period through the website, the selected startups will go to the stage of presenting ideas to a panel formed by Visa professionals and ecosystem partners.

At the end of the process, six companies will be chosen to participate in the program, which will provide support for business development and possible partnerships and investments.

The announcement of the selected startups will take place until October 10th.

Source: Exam