Visa, a world leader in digital payments, has announced an open call for startups across Asia Pacific to apply for the Visa Accelerator Program 2023. Now in its third year, the Visa Accelerator Program selects a small group of startups to collaborate on some of the most pressing challenges in the payments industry. The 2023 program will focus on developing solutions in the following areas: Web 3.0, global money movement, embedded finance, merchant and small business enablers, and open banking solutions.
The Visa Accelerator Program was launched in 2019 and has since enabled the growth of some of Asia Pacific’s most prominent startups. The five startups from the 2022 cohort presented their proof-of-concepts at the Visa Accelerator Spotlight event, after working with Visa product and business development teams to bring their concepts to life and expand their businesses into new markets across the region.
Startups from the 2021 and 2022 cohorts secured nine commercial deals with Visa’s clients and partners in Asia Pacific. Additionally, Visa has entered into six partnership and commercial agreements with selected startups, emphasising the value that startups can bring to the larger payments industry.
Chris Clark, President, Asia Pacific, Visa said, “It is exciting to see great products co-developed by the successful startups from the previous cohorts, who have also become our valued partners. Expectations are high as we recruit for the third cohort, because we want to continue bringing the best startups across the region into Visa’s payments network. We’re looking forward to seeing applications from all around Asia Pacific for the 2023 Accelerator Program.”
Ivana Tranchini, Visa Country Manager for Cambodia, said: “We’re on the lookout for talented, out-of-the-box thinkers, who are working on solutions that could shape the future of payments in Asia Pacific. With our scale and network, we are in a special position to support these startups and are eager to help them to drive growth and provide a transformative consumer experience.”
To tap into the best of the Asia Pacific startup community, Visa is partnering with Plug & Play, one of the world’s most successful global innovation platforms. Plug & Play will be a key strategic partner and will curate access to emerging fintech-focused startups for the Visa Accelerator Program 2023. Plug & Play will bring their expertise as a highly successful investor and their experience working with other major corporate accelerator programs, to identify, attract and accelerate startups who want to solve industry challenges and scale new technologies.
Jupe Tan, Managing Partner of Plug & Play APAC said, “We are delighted to be working on the Visa Accelerator Program. Our goal is to provide a line-of-sight into the most innovative fintech startups that are shaping the financial services industry across Asia Pacific, as well as enable successful proof-of-concept engagements between the finalised startups and Visa.”
Clark added, “Our partnership with Plug & Play will connect Visa with like-minded fintechs that share our common goal to build new digital commerce experiences together. From exploring the potential of new developments like Web 3.0 and embedded finance, to making it easier for businesses to move money around the world, there are so many opportunities for startups to work with Visa and our network of bank and merchant partners.”
Join the program
Applications for the Visa Accelerator Program 2023 are now open and will close 10 January 2023. The program is the right fit for startups that are at Series A and above, have a long-term commitment to Asia Pacific growth and existing operations in the region, and have a market-validated, proven solution. The six-month program will allow selected startups to work together with Visa’s payment experts, product architects and business development teams to rapidly co-develop, test, and iterate solutions, while pursuing tangible go-to-market opportunities with Visa’s extensive network of financial institutions, merchants and digital partners. For more information, including how to apply, visit: https://www.visa.com.sg/apaccelerator
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