Visa Seeks Startups Equipped with Next-Generation Digital Payment Technology Capabilities for Support

Plan to Select Startups Equipped with Capabilities in Fund Transfer, Cryptocurrency, and Open Data

[Image source=AP Yonhap News]

[Asia Economy Reporter Ki Ha-young] Global payment technology company Visa announced on the 3rd that it is recruiting companies to participate in the 'Visa Accelerator Program,' which supports startups in the Asia-Pacific region in entering overseas markets.

Following last year, the program focuses on startups seeking commercialization opportunities through collaboration not only with Visa but also with financial institutions, government agencies, and merchant networks across the Asia-Pacific region.

The Visa Accelerator Program was established to discover and support startups that have successfully introduced solutions in their domestic markets and wish to take the next step. As a 'network of networks' encompassing various networks, Visa plans to help these startups enter overseas markets and attract new customer bases.

Visa plans to select startups with the capability to address financial and technological challenges in the Asia-Pacific region, focusing on fund transfers, virtual currencies, open data, and B2B. Together with these startups, Visa aims to contribute in areas such as ▲developing new domestic and international remittance methods by simplifying and diversifying fund transfers among consumers, businesses, and governments ▲implementing new payment solutions like virtual currencies based on blockchain technology ▲building efficient decision-making and evaluation systems in digital identity verification, consent management, credit evaluation, risk management, and fraud prevention using open data environments ▲personalizing and differentiating shopping experiences through new credit models, Buy Now Pay Later (BNPL), and customer loyalty management solutions ▲accelerating corporate digital transformation by simplifying credit underwriting solutions and developing mobile solutions for supply chain management.

The Visa Accelerator Program plans to select startups that have entered Series A stage or beyond, are committed to contributing to the long-term growth of the Asia-Pacific region, and possess solutions already validated in their domestic markets. The application period is from today until January 9 of next year, and the program is scheduled to commence around mid-April 2022.