Visa Expands its Fast-Track Program Access to African Fintech Startups
Visa has announced the expansion of its fast-track program to support fintechs are developing the next generation of digital payment solutions in the Central and Eastern Europe, Middle East and Africa (CEMEA) region.
The programme which is already rolled out in Europe, Latin America and Asia Pacific, is geared towards speeding up the process for fintechs to integrate their payment solutions with VisaNet, Visa’s global network.
The initial focus for the CEMEA region will be to support fintechs that are innovating in verticals, such as wallets, payment processing and digital banking.
The program would provide a commercial framework that includes access to Visa’s payment capabilities, reduced fees and streamlined processes in just 4 weeks. The program will also link fintechs to platforms that are already certified by Visa as well as to sponsoring banks to help them scale.
To ensure easy onboarding process, the programme has been tailored to suit Visa’s fintech partners’ needs, with processes adapted for their various regions.
“The payments ecosystem is evolving at an unprecedented pace with some of the most exciting innovations coming from our region. We are actively engaged with passionate, entrepreneurial communities to understand where synergies exist in order to foster and bring new experiences to life in a secure and scalable manner in our pursuit of a digital future. Our aim is to connect new players and ideas with our network partners, so that we can deliver intuitive and relevant payment, banking and retail experiences to customers and merchants.”Andrew Torre, Regional President, CEMEA, Visa.
This programme is one of Visa’s initiatives to support startups in this region. Other initiatives by the payments giant had included its Visa’s Everywhere Initiative, Investments in companies with potentials (such as Paystack in Nigeria) and Partnership with other payment platforms (such as its recent with Nigeria’s Flutterwave).
In Sub-Saharan Africa, Visa will work with Global Technology Partners (GTP), to design and ensure end-to-end solutions for the Visa Fintech Fast-Track program.
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