VISA takes Fintech Fast-Track program to Africa, Middle EastSeptember 20, 2019
NAIROBI, Kenya, Sep 20– If you are an entrepreneur, you need to have a credible business plan, attractive product for Visa, appropriate regulatory license for you to join Visa’s Fintech Fast-Track Program in the Central and Eastern Europe, Middle East and Africa region.
This is according to Visa’s Vice President, Head of Strategic Partnership, Fintech and Ventures Central and Eastern Europe, the Middle East and Africa (CEMEA) Otto Williams who says there are several eligibility criteria for one to be accommodated in the program.
“The Fast-Track program is one of several Visa initiatives designed to support fintech and startup companies and the start-up must have followed the criteria of having appropriate regulatory license if required, no material adverse findings from background checks on directors, working capital or acceptable funding plan covering at least 12months of operations, among others,” he said.
Visa announced it is expanding its Fintech Fast-Track Program in the Central and Eastern Europe, Middle East and Africa (CEMEA) region early this year as part of its efforts in developing the next generation of digital payment solutions.
Already rolled out in Europe, Latin America and the Asia Pacific, the program provides innovative fintechs with a faster and easier integration process with VisaNet, Visa’s global network, in addition to a suite of tailored digital solutions and growth capabilities.
Since its launch, Visa has been engaging with Investments, partnership and engagement to expand the fast-track program.
The Fintech fast-track program covers consistent commercial deal framework to aid quicker decisions on deals with this community and provide rapid onboarding to help startups in the region gain access to the capabilities that lie within Visa’s global network to power their own ideas.
The fast-track program has been tailored to Visa’s fintech partners’ needs, adapting to their realities and providing them processes that are faster, which include providing flexibility on financial requirements, reducing the number of onboarding conditions, linking fintechs to platforms that are already certified by Visa and connecting fintechs to sponsoring banks.