Fintech

Visa expands its $100,000 Everywhere Initiative fintech challenge to Middle East and North Africa

Visa has expanded its Everywhere Initiative, a fintech innovation challenge in search for the next big innovation in financial technology and payments technology to startups in the Middle East and North Africa.

Coming to the Middle East and North Africa region for the first time, Visa’s Everywhere Initiative offers Startups a chance to win up to USD 50,000 to support a development program with Visa, or through a business partnership with Visa’s partners.

The challenge is divided into three. Acceptance Challenge for startups  that can leverage Visa APIs to enable merchants accept payments instore or online. The second challenge is the Airport Transit challenge which allows startups to leverage Visa’s APIs to disrupt airport and transit experiences while the third challenge is a Loyalty Challenge so startups should make it easier for merchants to build loyalty programs for consumers.

The winner per challenge will receive a US$25,000 in cash equity free and will also work with Visa to build their solutions and launch them to their markets while the overall winner receive an additional US$25,000 making it $50,000 in sum for the category challenge and for the overall challenge.

Visa’s Everywhere Initiative is part of a global implementation that is strategically important to the global payments company’s goal of fostering the growth of next generation payment technologies. Currently, it has nearly fifteen hundred participating Fintech startups across North America, Latin America, Europe and Asia.

Potential applicants can access www.visamiddleeast.com/everywhere-initiative for details on the Visa’s Everywhere Initiative.

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