Visa in move to spark Kenyan fintech growth through Visa Everywhere Initiative
Visa has announced the 2021 edition of the Everywhere Initiative – a global innovation program and competition for fintechs. This year, the focus is on expansion and accessibility, with Visa offering a one-stop experience to register and learn about upcoming opportunities and competitions – via the global website.
Fintechs started by everyone, everywhere will pitch their ideas in regional competitions to a panel of expert judges from across the payments industry. All applicants from Sub Saharan Africa (SSA) are invited to compete first on a CEMEA stage to win a combined $25,000 in total prize and then on a global stage for a combined $100,000 in total prize money. and to tell their companies’ stories.
“Supporting companies across the globe who are building solutions that power seamless money movement everywhere is a top priority for Visa. We recognize fintechs as a force for innovation that is core to our business and encourage everyone to apply to Visa Everywhere Initiative. I am looking forward to seeing the many brilliant ideas from Kenya and across Sub Saharan Africa this year,”
noted Aida Diarra, Senior Vice President and Group Country Manager for Visa Sub Saharan Africa.
Participants are invited to submit applications in English to the CEMEA regional pitch before May 7, with the regional CEMEA finals scheduled for June 8 and global finals – for September 14, 2021.
Visa and TechCrunch will promote and host live-streamed and virtual events in North America, CEMEA and Latin America.
Participants can register and submit applications following the link: https://visaeverywhere.
About Visa Everywhere Initiative
The Visa Everywhere Initiative is a global, open innovation program that tasks start-ups and fintechs to solve payment and commerce challenges of tomorrow, further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners.
The program first launched in the U.S. in 2015 and quickly expanded into a global program with more than 7,000 participating startups. To date, startups have collectively raised over $2.5 billion in funding, and the program has been activated on six continents—touching more than 100 countries.
Prizes
Six monetary prizes will be awarded during the global finals event:
CEMEA Competition
Winner: $15,000 USD
Audience Favorite: $10,000 USD
The CEMEA winner will participate in the Global Competition
Global Competition
Overall Winner: $50,000 USD
Audience Favorite: $25,000 USD
2nd Place: $15,000 USD
3rd Place: $10,000 USD
Visa does not ask for any equity from Visa Everywhere Initiative competitors as part of this competition.
Who should apply for the Visa Everywhere Initiative?
Visa is looking for creative minds who are solving the payments and commerce challenges faced by businesses of all sizes and sectors, including but not limited to:
Enabler of Digital Services and Digital Issuers
- Blockchain & Cryptocurrency
- Crowdfunding
- Banking as a Services
- BIN Sponsors
- Issuer / Processors
- Program Managers
Digital Issuance:
- Blockchain & Cryptocurrency
- Alternative Lending
- Personal Financial Management
- Money Transfer & Remittance
- Digital Banking (aka Neo Banks)
- Digital Wallets, P2P &Transfers
- Employee Benefits
- Payables
- Corporate Cards (aka expense management)
Value-Add for Merchants and/or Consumers when it comes to Finance
- Data & Analytics
- ID, Authentication & Security
- InsurTech
- Loyalty
- Merchant Services & Tools
- Process & Pay Infrastructure
- Retail Technology
- Other
Small/Medium -Sized Business Recovery
- Money Movement (disbursements, Intra-account, p2pvendor, payments)
- Acceptance (e-commerce, mobile acceptance)
- Risk Management (chargebacks, etc.)
- Brand Management (Community building, etc.)
- Other
For more details, please visit http://visa.com/