In a bid to develop the next generation of digital payment solutions, Visa Inc. has announced it is expanding its Fintech Fast-Track Program in the Central and Eastern Europe, Middle East and Africa (CEMEA) region, reported IT News Africa.
The Visa Fintech Fast-Track Program, which has already been introduced in Europe, Latin America and the Asia Pacific in 2018, provides fintechs with a faster and easier integration process with Visa’s global network, VisaNet, and also offers a suite of customized digital solutions and growth capabilities. It also provides access to Visa’s payment capabilities, reduced fees, and streamlined processes. According to Visa, the program is aimed at accelerating investment, partnerships, and engagements.
The Fast-Track program will enable fintech companies based in CEMEA to join Visa’s global network in less than four weeks time. It will be tailored as per the needs of fintechs, adapting to their realities and providing them with faster processes by reducing the number of onboarding conditions. The program will also link fintechs to Visa certified platforms and connect them to sponsoring banks, providing fintechs with scaling opportunities through Visa’s global network.
Visa To Work With Global Technology Partners
Notably, in Sub-Saharan Africa, Visa will join hands with Global Technology Partners (GTP), to design and enable turnkey end-to-end packaged solutions for the Visa Fintech Fast Track program. The solution will include bin sponsorship, issuer processing services, acquirer QR code processing services, and program management services.
“GTP is excited to work with Visa to bring new digital products to our banks and cardholders,” said Rich Bialek, CEO of GTP.
He added that the fintech companies based in the CEMEA region are developing innovative solutions to meet the needs of the rapidly growing consumer base.
“By expanding the fast-track program to CEMEA, Visa and GTP will enable these companies to rapidly deliver new technologies and services to consumers, improving and expanding how commerce works in this dynamic market,” Bialek said.
All innovative fintechs in the Central and Eastern Europe, Middle East and Africa (CEMEA) region can apply to the program by registering online through the website – www.visa.com/fintechcemea.