Visa launches fast-track access and $100mn fund for fintech startups in Europe
Visa has announced two new programmes to help support fintech startups across Europe.
The United States-based financial services firm will give fast-track access to its global network to promising startups, while it is also opening an investment fund worth €100mn which will support the development of European payment solutions.
Its commitments were outlined by Charlotte Hogg, its CEO of Europe, at the Money 20/20 conference in Amsterdam, the continent's biggest fintech event which is being held from 4-6th June in the Dutch capital.
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"These are exciting times for payments in Europe," said Hogg. "The introduction of new regulation, combined with dramatic changes in consumer behaviour and rapid technology developments, have transformed Europe into a region where new commerce ideas are born every day. This creates an incredible opportunity for new and existing payment companies to deliver more seamless, simple and secure payments that people demand.
"At Visa we are open for all players to take advantage of the reach, capabilities and security of our global network to grow their businesses. Our commitment is to be the most responsive and supportive network for both emerging payment players and our existing clients and partners."
As part of its fast-track programme, Visa will partner with providers to sponsor start-ups who wish to participate within just four weeks, offering consumers and merchants new and innovative digital commerce experiences.
The €100mn investment fund will focus on supporting startup businesses that are innovating in the arena of open banking and those using emerging technologies such as artificial intelligence and blockchain.