Visa Set to Implement Fintech Fast-Track Program
American multinational financial services corporation, Visa has announced that it is expanding its Fintech Fast-Track Program in the Central and Eastern Europe, Middle East and Africa (CEMEA) region. This is part of the company’s efforts to develop the next generation of digital payment solutions.
The program, which has already been rolled out in Europe, Latin America and Asia Pacific, 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. The program has been tailored to the needs of fintechs, adapting to their realities and providing them with processes that are faster, which include reducing 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.
According to the Regional President of CEMEA, ViSA, Andrew Torre, “the payments ecosystem is evolving at an unprecedented pace with some of the most exciting innovations coming from our region. We are actively engaged with passionate, entrepreneurial communities to understand where synergies exist in order to foster and bring new experiences to life in a secure and scalable manner in our pursuit of a digital future”.
Torre added that “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.
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.