Visa is expanding its Fintech Fast-Track Program in the Central and Eastern Europe, Middle East and Africa (CEMEA) region as part of its efforts in developing the next generation of digital payment solutions.
Already rolled out in Europe, Latin America and 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.
With the Visa Fast-Track program, fintechs based in CEMEA can now onboard to Visa’s global network in as little as four weeks as it reduces the number of onboarding conditions. The program also links fintechs to platforms that are already certified by Visa and connects fintechs to sponsoring banks, providing fintechs with scaling opportunities through Visa’s global network.
Andrew Torre, Regional President, CEMEA, Visa, said, “Our aim is to connect new players and ideas with our network partners, so that we can deliver intuitive and relevant payment, banking and retail experiences to customers and merchants.”
The Fintech Fast-Track program provides a new commercial framework that includes access to Visa’s payment capabilities, reduced fees and streamlined processes. After successful launches in Europe, Latin America and Asia Pacific in the second half of 2018, the program is now available to fintechs in CEMEA. Visa is inviting all innovative fintechs in the region to apply to the program by registering online through the program website – www.visa.com/fintechcemea.
The Fast-Track program is one of several Visa initiatives designed to support fintech and startup companies through investments, partnerships and engagement. Recent fintech investments globally have included Klarna, Paidy, Marqeta and PayStack in Nigeria.
Many payment platforms and fintechs are already collaborating with Visa globally to create new consumer and merchant experiences, including YellowPepper, NovoPayment, Stripe, Conductor, Flutterwave and Revolut.
In Sub-Saharan Africa, Visa will work with Global Technology Partners (GTP), to design and enable turnkey end-to-end packaged solutions jointly for the Visa Fintech Fast Track program. The enterprise solution will include bin sponsorship, issuer processing services, acquirer QR code processing services and program management services.