Applications are opened to Fintech startups for a chance to win $50k with the Visa Everywhere Initiative.
The initiative which was launched two months ago in Sub- Saharan Africa seeks to explore the creative and innovative banks of the startup community. Hence it is looking for fintech startups that are developing several local fintech solutions.
According to Ventureburn, the initiative is a global innovation programme that tasks startups to solve commerce challenges of tomorrow and further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners.
Also, the initiative which was first launched in the US in 2015 has reached five continents with impressions in 40 countries.
Interestingly, almost 2100 startups across several continents and regions of the world( North America, Latin America, Europe, Asia Pacific, Africa and the Middle East) have participated in the Programme, which awards up to $50,000 (a $25,000 prize and potentially up to $25,000 in pilot funding), plus the potential opportunity to work with Visa.
The local fintech solutions that Visa is looking for from startups have been divided into three challenges, namely:
- Challenge 1: Merchant Payment — How can your startup leverage Visa Developer APIs to either: Enable smaller merchants to accept payments in-store digitally OR Provide a safe and secure solution for online merchants to drive ecommerce and reduce cash on delivery?
- Challenge 2: Social Business Payments — How can your company use Visa’s APIs to leverage mass reach partner platforms like Facebook to help businesses operating in fast-paced consumer-centric environments improve cash flow and receive payments?
- Challenge 3: Financial Inclusion — How can startups leverage technology to provide services that are functional for illiterate customers to provide them with secure transaction experiences that build and enhance their confidence in the banking system?
Interested startups can apply here, and on the online application form applicants are required to select which of the three briefs they are applying for, a brief description of the team, and a description of their idea.
Applicants in the Sub-Sahara Africa (SSA) region that are interested in submitting their entries have until Thursday, 31 May 2018.
