Card payment giant, Visa has announced two new programs designed to support European FinTechs who are developing the next generation of digital payment solutions.
From July, Visa said finTech start-ups based in Europe can onboard to Visa’s global network in as little as four weeks. The new FinTech fast-track program provides rapid onboarding and reduced fees to help early stage start-ups gain access to the capabilities that lie within Visa’s global network to power their own ideas.
Additionally, Visa has launched a $100m European investment program to support the thriving FinTech ecosystem in Europe and grow its investment activity in start-ups.
Visa’s CEO for Europe, Charlotte Hogg, said: “These are exciting times for payments in Europe. 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.”
A key element of Visa’s FinTech engagement activity is a fast-track initiative making it possible for start-ups to on-board with Visa in just four weeks.
Visa will partner with providers to sponsor start-ups who wish to participate in the program and offer consumers and merchants new and innovative digital commerce experiences.
At launch, Visa will be working with Contis, the alternative banking, payments and processing platform provider. The program will launch in July, initially focusing upon UK-based start-ups who can register their interest now at www.visaeurope.com/fintech. Additional European markets will be added soon with a view to global expansion of the program.